Product Description

During the '80s, Michael Milken at Drexel Burnham created the corporate raiders. He was the billionaire Junk Bond King. But, in the corner stood the U.S. District Attorney waiting to file criminal and racketeering charges.

Product Details

• Amazon Sales Rank: #40736 in Books
• Published on: 1989-12-31
• Original language: English
• Number of items: 1
• Binding: Paperback
• 400 pages

Synopsis
Reveals the stories behind the risk arbitrageurs and corporate takeover bond impresarios Michael Milken, Carl Icahn, Ronald Perelman, and Nelson Peltz.

Customer Reviews

The story of junk bonds in the 1980s
Today the phrase "securities fraud" evokes Enron, WorldCom and Tyco. Two decades ago, it evoked Drexel Burnham Lambert, the investment bank that ruled the junk-bond realm and helped fund some of the most audacious corporate takeovers of the 1980s. Enthroned at the center of Drexel Burnham was the king of junk, Michael Milken. Was he a financial genius who found ever more clever ways to make markets more efficient? Or was he a swindler running the world's biggest Ponzi scheme? New Yorker writer Connie Bruck sets out to answer those questions in this cautionary tale of Drexel's rise and fall. getAbstract recommends this fascinating, highly detailed financial history. However, the flaw in Bruck's narrative is the absence of a third act: She inexplicably ends the book before Milken's trial and sentencing. While its ending is weak, this provocative story makes one thing clear: Uneasy lies the head that wears a leveraged crown.

Enjoyable book about one of the greatest scandals in Wall Street
Absolute must read for people interested in business and financial markets
The research is very serious and the approach is very professional
Unfortunately, the research ends before Mr Milken was convicted. It would be nice to have a look of what happened with Drexel after Milken went down

Nice topic, weak author
The book gives good overview of Milken, leveraged finance and important players of the decade.
However, a bit too long for my taste, with too many unnecessary details, repeating in some parts as well. Ms Connie Bruck wanted to show all the angles, but went into excess.
The book is a recommended read for those who want to deepen they knowledge about Milken and takeovers of the 80's.