wetting their well, you get the idea. of course, boesky was guilty. there was going to be no defense. all he had was bargaining power. levine was a fish, boesky was a shark. who is the whale they re going to catch? i don t know. drexel burnham? well, that s possible. in the middle of all this is drexel burnham lambert. it specialized in so-called junk bonds. high interest but also high risk. drexel and the head of its junk bond department michael milken made a deal with ivan boesky to make millions of dollars illegally. california company wicks was planning a takeover. boesky bought the stock before it went up, shared the profits with milkens firm, but milken
it went up, shared the profits with milkens firm, but milken betrayed his client, charged a million-dollar fee and secretly earned $6.5 million more at the clients expense. authorities are worried that further disclosures resulting from the boesky affair may weaken public confidence in financial markets and weaken the markets themselves. just came from inside. it looks like a mad house. i guess the bull market s over. it s a blood bath down there. they re calling it the monday massacre. the worst drop in wall street history. i call it the nearest thing to a meltdown i ever want to see. by the closing bell, the dow jones industrial average was down more than 500 points. this is a crash people hadn t seen since the great depression. no one had seen the stock market fall that quickly, that fast. paper losses of more than $500 billion. october 18, 1987, wall street s black monday. that crash was one of the first signs of how dangerous
then whispered that secret to boesky bought the stock before it went up, shared the profits with milkens firm, but milken betrayed his client, charged a million-dollar fee and secretly earned $6.5 million more at the clients expense. authorities are worried that further disclosures resulting from the boesky affair may weaken public confidence in financial markets and weaken the markets themselves. just came from inside. it looks like a mad house. i guess the bull market s over. it s a blood bath down there. they re calling it the monday massacre. the worst drop in history. i call it the nearest thing to a meltdown i ever want to see. by the closing bell, the dow jones industrial average was down more than 500 points.
of course, boesky was guilty. there was going to be no defense. all he had was bargaining power. who could he deliver? levine was a fish, boesky was a shark. who is the whale they re going to catch? i don t know. drexel burnham? well, that s possible. in the middle of all this is drexel burnham lambert. until two years ago a little known wall street firm. it specialized in so-called junk bonds. high interest but also high risk. drexel and the head of its junk bond department michael milken made a deal with ivan boesky to make millions of dollars illegally. california company wicks was planning a takeover. boesky bought the stock before it went up, shared the profits with milkens firm, but milken betrayed his client, charged a million-dollar fee and secretly
milken whispered that to boesky. boesky bought the stock before it went up, shared the profits with milkens firm, but milken betrayed his client, charged a million-dollar fee and secretly earned $6.5 million more at the clients expense. authorities are worried that further disclosures resulting from the boesky affair may weaken public confidence in financial markets and weaken the markets themselves. just came from inside. it looks like a mad house. i guess the bull market s over. it s a blood bath down there. they re calling it the monday massacre. the worst drop in history. i call it the nearest thing to a meltdown i ever want to see. by the closing bell, the dow jones industrial average was down more than 500 points. this is a crash people hadn t seen since the great depression. no one had seen the stock market fall that quickly, that fast. paper losses of more than $500 billion. october 18, 1987, wall street s black monday.