An insightful portrait of junk-bond powerhouse Drexel Burnham Lambert and infamous financier Michael Milken, “one of the most brilliant minds ever to have been dedicated to Wall Street's money games.” (The New York Times).
Milken is purported to have offered to pay award-winning journalist Connie Bruck to stop work on this book, the fascinating story of how a singularly brilliant and intensely private investment banker essentially masterminded the creation of the junk bond market, generating billions of dollars in profits for his clients and himself before ultimately being brought down by charges of insider trading, stock manipulation, and fraud under the RICO Act. Bruck’s in-depth narration of the phenomenal career of the man nicknamed “the Junk Bond King” spans Milken’s early dealings in high-yield bonds as well as numerous corporate raids and hostile takeovers guided by tactics that were undoubtedly revolutionary, if sometimes unethical—and occasionally outright illegal. Standing alongside other blockbuster tales of business malfeasance such as Liar’s Poker and Too Big to Fail, The Predators’ Ball is a shocking, bemusing, and enlightening portrait of an era when it seemed anything was possible on Wall Street—as long as Michael Milken was in your Rolodex.
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LibraryThing ReviewUser Review - deldevries - LibraryThing
This was an interesting time in history and the book describes the players and situations in great detail. Not nearly as interesting as I would have liked. I'm not sure why this is a New Classic. Read full review
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acquired acquisition arbitrage assets Atlantic Capital bank Bergerac Beverly Hills Boesky Day bought buyers Carl Icahn Carl Lindner cash chairman commitment company’s Considine corporate finance corporate-finance deal debt dollars Drapkin Drexel employee Drexel executive Drexel investment banker Engel equity exchange offer firm’s former Drexel Forstmann Little Fred joseph funds going greenmail guys high-yield hostile interest investment banker investment-banking firms investors issued junk bonds Kidder Kingsley later lawyer Leon Black leveraged buyout Lipton loans Lorenzo Michael Michael Milken Mike Milken Milken’s group million months Morgan Stanley National Nelson Nelson Peltz Pantry Pride partners Peltz percent Perelman Phillips portfolio Posner profits raise recalled Revlon Riklis Ronald Perelman Salomon Salomon Brothers Saul Steinberg Schnall securities sell seventies share shareholders Shenkman Siegel Sigoloff Steinberg takeover target told trading transaction Triangle underwriting Victor Posner Wall Street wanted Wynn York