Dangerous Dreamers: The Financial Innovators from Charles Merrill to Michael Milken
Contributor(s): Sobel, Robert (Author)
ISBN: 1587980290 EAN: 9781587980299
Publisher: Beard Books
US SRP: $34.95 US
Binding: Paperback: 276 pages
Pub Date: January 01, 2000
Dangerous Dreamers: The Financial Innovators from Charles Merrill to Michael Milken Publishers Weekly,Although Sobel ( The Big Board ) records such innovations as the Merrill Lynch small-investors-in-volume sales approach, Louis Wolfson's conglomerate pioneering and the corporate raidings of Boone Pickens, Sobel's liveliest concern here is the controversial ``junk-bond'' market of the 1980s and its star performer, Michael Milken.
In a notably balanced chronicle, Sobel weighs government pressure (e.g., Milken was U.S. Attorney Rudolph Guiliani's ultimate target'') in the demise of Drexel Burnham Lambert against the junk-bond deregulation connection in the S & L debacles. Sobel also points to Milken's deft facilitation through pooled financing of still-flourishing business start-ups, and he implicitly questions the so-called Fatico hearings which allow a sentencing judge, as in Milken's case, to admit the presentation of evidence without an indictment.
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