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Thursday 30 January 2014

Milken to Madoff: Villains who changed the world

From CNBC

“On April 7, 1989, Michael R. Milken strode confidently up the steps of the federal courthouse at 40 Centre St. in Manhattan, federal marshals having cleared a path for his arrival. Lining the path were dozens of young men, each doing his best Charlie Sheen from the movie "Wall Street."

In their slicked-back hair, pin-striped suits, suspenders and power ties, they all broke into applause — an act of defiance as their hero, who as a Drexel Burnham Lambert executive had pioneered the use of junk-bond financing that powered the 1980s boom, prepared to face his reckoning in the highest-profile white collar crime case of its day.”

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