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During the '80s, Michael Milken at Drexel Burnham created the corporate raiders. He was the billionaire Junk Bond King. But, in the corner stood the U.S. District Attorney waiting to file criminal and racketeering charges.
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Most Helpful Customer Reviews
9 of 10 people found the following review helpful
Format:Paperback
This is a first class book, outrageous incidents and low tech finance, and should particularly be read by those willing to concede that Milken was in fact extremely insightful. It walks you through the basics of how the business really works and the sort of power struggles that took place at the time. It highlights the destruction (both good and bad) of the cosy boardroom, and shows that Milken only had himself to blame. Power breeds excess, and corrupts, but that level of power is rarely achieved in the first instance without substance, and Milken had this. Whilst I hope that no-one feels sympathy for those he destroyed in his wake, it is good to read an account of just why he gained that power base. He re-financed huge swathes of America and unleashed far wider repurcussions in corporate life globally, generally at the expenses of those with previous vested interests in maintaining the status quo. This is no mean feat, and this book shows how white-toe investment banking firms treated (and often still do treat) their potential clients, allowing Milken the breadth of disenfranchised corporations to tap with his advice. It is a shame that the remainder of his reign was one of manipulating unfortunte S&L's, private investors and joe public, and creaming money in every direction!! This book is one of the less biassed and therefore useful accounts of that era. Shows all the excesses that money can bring.
1 of 1 people found the following review helpful
Format:Paperback
The book gives good overview of Milken, leveraged finance and important players of the decade.
However, a bit too long for my taste, with too many unnecessary details, repeating in some parts as well. Ms Connie Bruck wanted to show all the angles, but went into excess.
The book is a recommended read for those who want to deepen they knowledge about Milken and takeovers of the 80's.
However, a bit too long for my taste, with too many unnecessary details, repeating in some parts as well. Ms Connie Bruck wanted to show all the angles, but went into excess.
The book is a recommended read for those who want to deepen they knowledge about Milken and takeovers of the 80's.
Format:Paperback
Today the phrase "securities fraud" evokes Enron, WorldCom and Tyco. Two decades ago, it evoked Drexel Burnham Lambert, the investment bank that ruled the junk-bond realm and helped fund some of the most audacious corporate takeovers of the 1980s. Enthroned at the center of Drexel Burnham was the king of junk, Michael Milken. Was he a financial genius who found ever more clever ways to make markets more efficient? Or was he a swindler running the world's biggest Ponzi scheme? New Yorker writer Connie Bruck sets out to answer those questions in this cautionary tale of Drexel's rise and fall. getAbstract recommends this fascinating, highly detailed financial history. However, the flaw in Bruck's narrative is the absence of a third act: She inexplicably ends the book before Milken's trial and sentencing. While its ending is weak, this provocative story makes one thing clear: Uneasy lies the head that wears a leveraged crown.
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Most Recent Customer Reviews
Enjoyable book about one of the greatest scandals in Wall Street
Absolute must read for people interested in business and financial markets
The research is very serious and the approach is very professional
Unfortunately, the research... Read more
The research is very serious and the approach is very professional
Unfortunately, the research... Read more
Published on 28 Nov 2007 by J. P. Meijide
Good and important reading but indiscerned writer
Predators ball by Connie Bruck is a recommended reading for the already discerned person, who has some knowledge of the real Milken story. Read more
Published on 24 May 1999
Very good but a bit difficult to follow
I liked this book but I found it difficult to follow the order of events at some points, especially when the author jumped back and forth between dates. Read more
Published on 4 May 1999
Excellent book by Connie Bruck
I was really amazed by the quality of this book. Without being a junk-bond professional one can easily understand Drexel Burnham Lambert's and Michael Milken's story from the... Read more
Published on 14 July 1998
A detailed picture of the biggest money making operation
A good book that gives a detailed explanation of the logics of the junk bond issues and corporate acquisition, giving e profile of the charachters personality, telling the whole... Read more
Published on 3 Aug 1997
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