Word: milken
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...administration could miss a chance at remedying a long-standing wrong by opting for gratifying the obscene wishes of some present economic royalist for an undeserved immortality. The student body could take pride in the Roosevelt Center as it couldn't under any circumstances in the Trump Center or Milken Center...
...Nation two years ago, Grapevine offered readers an insidey look at politics in Washington and across the country. We'll still give you a behind-the-scenes look at those who govern us, but now the whole world is our stage, from Hollywood to the Pentagon, from Steinbrenner to Milken. "The purpose is to be fun and lively while still being informative," says senior editor Walter Isaacson, who will oversee the section...
...retires after 13 years of managing the Fidelity Magellan fund, with bank account and reputation intact. Wildly outperforming the market, he never succumbed to the showy excesses or the sleazy morals of the Age of Milken (see BUSINESS...
...Street crash. The name of the underbidder was never revealed, raising suggestions -- indignantly denied by the auctioneers -- that the price had been manipulated. The sale was financed with $27 million lent by Sotheby's: a margin-trading deal in line with the stock-exchange ethics of the Age of Milken. The deal came embarrassingly unstuck two years later when Bond, as his overgeared empire crumbled, proved unable to complete the payments...
...Loan (assets: $2.2 billion). State regulators were happy someone was willing to take over the sick thrift. Paul renamed the S&L and within a few years sent its profits zooming. His method: investing CenTrust's assets heavily in junk bonds, many of which he bought from Michael Milken at Drexel Burnham Lambert. By the late 1980s the payoff from CenTrust's $1.35 billion portfolio of junk made the S&L the region's most profitable thrift. But as the market value of junk bonds collapsed in recent months, CenTrust was doomed to go with...