Word: banker
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...with Warner Communications.) Under Chairman S. Parker Gilbert, 56, the stepson of co-founder Harold Stanley, and President Richard Fisher, 53, Morgan hedged its bets by diversifying into many different fields rather than putting all its money into one or two fashionable trends. At the same time, top investment banker Robert Greenhill expanded Morgan's global reach. The firm is now engaged in businesses ranging from foreign-exchange trading in London to mergermaking in Tokyo...
...gave rise to the era's get- rich-quick mentality. Michael Milken, the deposed Drexel guru who pioneered junk bonds and nurtured them into a $200 billion market, was paid $550 million in 1987 for his unrivaled expertise. In a perverse version of the trickle-down theory, lower-echelon bankers raked in multimillion-dollar salaries, and new recruits with two years' experience earned six-figure sums. The fantastic payoff created a brain drain as the best and the brightest from top colleges and business schools across the U.S. flocked to Wall Street. In 1986 nearly half the senior class...
...downfall. Drexel's huge profits and free-wheeling methods attracted the attention of federal prosecutors who believed that, among other offenses, Milken fed inside information to a network of traders to manipulate the stocks of his target companies. Prosecutors first snared Dennis Levine, a Drexel investment banker, who pleaded guilty in 1986 to four counts of profiting from insider trading. The Government then got Levine to implicate Ivan Boesky, a Wall Street speculator, who was fined $100 million for insider trading. He in turn agreed to help prosecutors pursue Milken, who had become the ultimate Mr. Big. (Boesky, bearded...
...several of Beck's relatives and colleagues, Journal reporter Bryan Burrough discovered that Mad Dog had invented much of his past. During Beck's supposed Viet Nam service he was actually attending Florida State University. One woman who dated Beck after the breakup of his second marriage said the banker "would wake up in cold sweats, shaking," saying he'd been dreaming about Viet Nam. "The guy lied in his sleep," she said...
...story was horrible enough on its own. But it was made more poignant by the larger-than-life goodness of the heroine. "All anyone could remember about her," reported the New York Daily News, was her "grace, cheer and success." She was young, white, brilliant, a rapidly rising banker. And despite being overwhelmed by a "wolf pack," she put up a "terrific fight...