he s the guy that t. boone pickens goes to and most people haven t heard of him. that s the way he likes it. he doesn t care about publicity and pride. he just cares about doing deals and having power. he was this shadowy howard hughes-like figure that you never saw, you just heard. it was milken s genius that created an entire market and fueled this takeover phenomena. we romanticize these characters. the fact of the matter, these are fat cats, first cousins to the financial manipulators, the robber barons of the late 19th century. they re trying to make a buck by doing nothing and putting people out of work. economists agree that some unemployment, some hardship is unavoidable in making the united states lean and mean again. but the takeover specialists call it corporate restructuring.
you may not have heard of michael milken, of the investment firm of drexel burnham lambert incorporated, but this 40-year-old wall street whiz is said to be the most powerful financier in america. he brought respectability to low rated junk bonds and then used the money to finance corporate raids and takeovers. without mike milken, t. boone pickens couldn t have raided gulf, unical and phillips petroleum. he said if you really want to take over gulf, it s going to cost you $13 billion. i said, yeah, i get it. and he said, i can get the $13 billion. he s the guy that t. boone pickens goes to and most people haven t heard of him. that s the way he likes it. he doesn t care about publicity and pride. he just cares about doing deals and having power. he was this shadowy howard hughes-like figure that you never saw, you just heard.
because it s so risky, those ious carry high interest rates, and they re called junk bonds. you may not have heard of michael milken, of the investment firm of drexel incorporated, but this 40-year-old wall street whiz is said to be the most powerful financier in america. he brought respectability to low rated junk bonds and then used the money to finance corporate raids and takeovers. without mike milken, t. boone pickens couldn t have raided gulf, 76 and phillips petrolium. he said if you really want to take over gulf, it s going to cost you $13 billion. i said, yeah, i get it. and he said, i can get the $13 billion. he s the guy that t. boone pickens goes to and most people haven t heard of him. that s the way he likes it. he doesn t care about publicity and pride. he just cares about doing deals and having power. he was this shadowy howard hughes-like figure that you never saw, you just heard. it was milken s genius that
and the company issues ious. because it s so risky, those ious carry high interest rates, and they re called junk bonds. you may not have heard of michael milken, but this 40-year-old wall street whiz is said to be the most powerful financier in america. he brought respectability to low rated junk bonds and then used the money to finance corporate raids and takeovers. without mike milken, pickens couldn t have raided several companies. he said if you really want to take over gulf, it s going to cost you $13 billion. i said, yeah, i get it. and he said, i can get the $13 billion. he s the guy that t. boone pickens goes to and most people haven t heard of him. that s the way he likes it. he doesn t care about publicity and pride. he just cares about doing deals and having power. he was this shadowy howard
using its assets as collateral for the loan. and the company issues ious. because it s so risky, those ious carry high interest rates, and they re called junk bonds. you may not have heard of michael milken, but this 40-year-old wall street whiz is said to be the most powerful financier in america. he brought respectability to low rated junk bonds and then used the money to finance corporate raids and takeovers. without mike milken, pickens couldn t have raided phillips, 76 and gulf. he said if you really want to take over gulf, it s going to cost you $13 billion. i said, yeah, i get it. and he said, i can get the $13 billion. he s the guy that t. boone pickens goes to and most people haven t heard of him. that s the way he likes it. he doesn t care about publicity and pride. he just cares about doing deals and having power. he was this shadowy howard