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The Inside Story of Drexel Burnham and the Rise of the Junkbond

Gilbert Cox

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Published in The Predators Ball: The Inside Story Of Drexel Burnham And The Rise Of The JunkBond

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By Connie Bruck

In the early 1980s, Drexel Burnham Lambert was the most powerful investment bank on Wall Street. Led by the brilliant and charismatic Michael Milken, Drexel pioneered the junk bond market, which allowed companies with poor credit ratings to raise billions of dollars in capital. The junk bond market fueled a wave of corporate takeovers and leveraged buyouts, and Drexel made a fortune by underwriting these deals.

But Drexel's success was built on a foundation of greed and recklessness. Milken and his colleagues often ignored the risks of the junk bonds they were selling, and they engaged in a number of shady practices, including insider trading and fraud. In 1989, Drexel was forced to plead guilty to six felony charges, and Milken was sentenced to ten years in prison.

The Predators' Ball: The Inside Story of Drexel Burnham and the Rise of the JunkBond

by Connie Bruck

4.1 out of 5

Language	:	English
File size	:	1610 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	401 pages

The Inside Story of Drexel Burnham and the Rise of the Junkbond is the definitive account of this rise and fall. Connie Bruck, a Pulitzer Prize-winning journalist, has spent years researching the Drexel story, and she has interviewed dozens of key players, including Milken, Ivan Boesky, and other Wall Street insiders. The result is a fascinating and cautionary tale about the dangers of greed and the importance of ethical behavior.

The Inside Story of Drexel Burnham and the Rise of the Junkbond is a must-read for anyone interested in the history of Wall Street, the rise and fall of Drexel Burnham Lambert, or the junk bond market. It is a cautionary tale about the dangers of greed and the importance of ethical behavior.

Reviews

"The definitive account of the rise and fall of Drexel Burnham Lambert, the investment bank that pioneered the junk bond market. This book tells the story of the men who built Drexel, the deals that made them rich, and the scandals that brought them down." - The New York Times

"A fascinating and cautionary tale about the dangers of greed and the importance of ethical behavior." - The Washington Post

"A must-read for anyone interested in the history of Wall Street, the rise and fall of Drexel Burnham Lambert, or the junk bond market." - Forbes