Word: greedfest
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Dates: during 2000-2009
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...center of the latest greedfest is Sam Waksal, an immunologist who turned into a dazzling biotechnology entrepreneur. In 1984 he founded ImClone, a little-known company until it made headlines for an apparent success with a cancer treatment called Erbitux in 1999. Waksal, 54, was always as much salesman as scientist and employed his reputation and charm as a ladder into elite circles that included home-decor guru Stewart, Mick Jagger, actress Mariel Hemingway, financier Carl Icahn and Dr. John Mendelsohn, the cancer-drug pioneer and former Enron board member. Waksal's eclectic posse combined science and celebrity with stock...
...verge of a greedfest like the reckless '80s, a period that youngsters may be surprised to learn was far more rapacious than anything served up during the Internet bubble. But change is in the air, and the wolves have their noses up. Last week Federal Reserve Chairman Alan Greenspan cut interest rates for the second time in less than a month. The rate cuts make it cheaper to borrow, a must in almost all buyouts that aren't stock swaps...