The Predators' Ball: The Inside Story of Drexel Burnham and the Rise of the Junkbond Raiders
During the 1980s, Michael Milken at Drexel Burnham Lambert was the Billionaire Junk Bond King. He invented such things as "the highly confident letter" (I'm highly confident that I can raise the money you need to buy company X) and "the blind pool" (Here's a billion dollars: let us help you buy a company), and he financed the biggest corporate raiders-men like Carl Icahn and Ronald Perelman. And then, on September 7, 1988, things changed... The Securities and Exchange Commission charged...
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During the 1980s, Michael Milken at Drexel Burnham Lambert was the Billionaire Junk Bond King. He invented such things as "the highly confident letter" (I'm highly confident that I can raise the money you need to buy company X) and "the blind pool" (Here's a billion dollars: let us help you buy a company), and he financed the biggest corporate raiders-men like Carl Icahn and Ronald Perelman. And then, on September 7, 1988, things changed... The Securities and Exchange Commission charged Milken and Drexel Burnham Lambert with insider trading and stock fraud. Waiting in the wings was the U.S. District Attorney, who wanted to file criminal and racketeering charges. What motivated Milken in his drive for power and money? Did Drexel Burnham Lambert condone the breaking of laws? The Predator's Ball dramatically captures American business history in the making, uncovering the philosophy of greed that has dominated Wall Street in the 1980s.
Prologue: The Ball10Part 1Spreading the Gospel211The Miner's Headlamp232Dr. Feelgood403Transformation504Merge with Mike625The Cloister at Wilshire and Rodeo786The Air Fund89Part 2Pawns Capture Kings1037Triangle-National Can: Kingmaker1058Icahn-TWA: From Greenmailer to Manager-Owner1499Pantry Pride-Revlon: The Crucial Campaign193Part 3The Zenith-and the Fall24110"Drexel is like a god..."24311Proven Prophet-So Far26612Milken's Money Machine27513The Enforcer28514Sovereign Privileges29715Boesky Day31716The Center Cannot Hold33017The Humbling344Afterword360Acknowledgments373Index377
