Word: milken
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Dates: during 1990-1999
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...first book, Dennis Levine's Inside Out: An Insider's Account of Wall Street, is junk, bound. Don't waste your time. Instead, to learn about Levine and Ivan Boesky and particularly about Mike Milken, read James B. Stewart's spectacular Den of Thieves. I read it because, like most people, I wasn't entirely sure. Was Milken, though guilty, the victim of a witch hunt over largely technical violations? Were he and his faithful servants, like Arthur Liman (for the defense) and Ken Lerer (for the p.r. machine), the ones I should root for? Hah! For the first time...
Among the personalities at the well-attended symposium were Arthur Liman, U.S. Senate counsel for the Iran-Contra hearings and legal adviser to convicted junkbond king Michael Milken. Assistant Professor of Law Charles J. Olgetree, who advised Oklahoma law professor Anita Hill at the Senate confirmation hearings last week, attended as well...
Other recipients were unable to attend. Robert Clark Graham, winner of the Biology Award for his Germinal Choice sperm bank, which only accepts donations from Nobel laureates and Olympic athletes, was conspicuously absent. Dr. Strangelove accepted for him. Economics Prize honoree Michael Milken had a 15 to 20 year previous engagement, so Tammy F. Baker accepted in his stead...
...simple expedient of buying and selling stock with the help of inside tips. Arrested in 1986 and jailed for 17 months in a minimum-security prison, he led prosecutors to arbitrager Ivan Boesky, who, in turn, helped them reel in the biggest fish of all -- junk-bond king Michael Milken. Now permanently barred from the securities industry, Levine, 39, makes his living as a consultant to companies engaged in mergers and other deals...
...money flowed so freely that Levine kept breaking the law even after his legitimate yearly income rocketed to $2 million. That was not enough at a time when other Masters of the Universe made still bigger bucks and Milken earned an astronomical $550 million in a single year. Blinded by greed, Levine rationalized his crimes by asserting that everyone traded on inside information and assuring himself that he would never get caught. Unknown to him, however, his Bahamas bankers were copying his trades for themselves. Their profligate piggybacking left an international paper trail that led U.S. regulators straight to Levine...