87 olds 98 help please

[mike4204]

on take off the front end had a real bad vibration so i decided to head home and check it out as i pulled into my drive way the front end poped real loud and it seemed like i lost almost all power

now it is very strong in reverse but not in drive
in drive if you let it build its own speed it will run through the gears fine but if i give it more gas it seems to just rev up and have no power
i have been told it is the tourqe converter but i dont know much about front wheel drives and i am totaly confused on how i can have power in reverse but not drive

please help
thanx
mike