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Topic: Michael Milken


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In the News (Sun 29 Nov 09)

  
  Milken, Michael Robert. The Columbia Encyclopedia, Sixth Edition. 2001-05
At the height of his success in the 1980s, Milken’s personal wealth was legend; according to the government, Drexel paid Milken $296 million in 1986 and $550 million in 1987.
Milken was fined and sentenced to prison for ten years; in 1991 his sentence was reduced to two years plus three years probation.
Milken, who had prostate cancer, established (1993) a foundation to underwrite a search for its cure; he is also a founder (1996) of Knowledge Universe, an educational services company.
www.bartleby.com /65/mi/Milken-M.html   (280 words)

  
 TAP: Vol 11, Iss. 9. The Resurrection of Michael Milken. Edward Cohn.   (Site not responding. Last check: 2007-11-06)
Milken's defenders portray him as a financial genius who changed the country's capital markets for the better, but was caught up in the hysteria of the 1980s and unfairly scapegoated as a criminal.
Milken became a double-edged symbol of his time, an embodiment first of the "booming '80s" and then of the "decade of greed." Milken's x-shaped desk at the center of Drexel's Beverly Hills office became an object of legend, around which multimillion-dollar deals were negotiated by the hour.
Milken uses these speeches to discuss the importance of expanded education and health care, to call for the "democratization" of capital, and to refer to his own life story--a series of topics that couldn't have been better chosen to help his own rehabilitation.
www.prospect.org /print/V11/9/cohn-e.html   (3041 words)

  
 Michael Milken - Wikipedia, the free encyclopedia
Michael Robert Milken (born July 4, 1946 in Encino, California) is a prominent American financier and philanthropist who almost single-handedly created the market for "high-yield bonds" (also known as "junk bonds") during the 1970s-1980s.
Milken originally planned to fight the charges against him, even going to far as to hiring one of Ronald Reagan's former campaign aides to launch a public relations campaign prior to the trial.
During the trial of former Enron CEO Kenneth Lay, Lay praised Milken while on the stand (Milken's response to such praise is of yet unknown).
en.wikipedia.org /wiki/Michael_Milken   (1847 words)

  
 Michael Milken Biography | Encyclopedia of World Biography
Michael Milken (born 1946) was nicknamed the "junk bond king," after he pled guilty to charges that he amassed hundreds of millions of dollars through questionable financial dealings involving high-yield bonds.
Michael Milken acquired a dubious reputation during the 1980s, when he pled guilty to illegal financial dealings that reaped millions of dollars in profits.
Milken began his financial career at the university, informally as a fraternity member, when he invested money for his fraternity brothers in return for 50 percent of the profits.
www.bookrags.com /biography/michael-milken   (1492 words)

  
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It was in 1972, three years after Michael Milken began a legendary career on Wall Street, that his wife told him her mother had been diagnosed with breast cancer.
Milken is finally recognized for his three decades of driving medical research toward cures and improved treatment outcomes for all serious diseases.
Milken is also chairman of the widely respected Milken Institute (www.milkeninstitute.org), a non-profit, non-partisan economic think tank that seeks to create a more informed public, more thoughtful policymaking, and improved economic conditions.
www.mikemilken.com /biography.taf   (1084 words)

  
 Michael Milken
Milken flashed a quick smile the audience-- as if to say the world was still under control.
What Milken had sought throughout his remarkable rise to power, he explained, was not chaos-- but control over the things around him.
When Milken finally strides into the room, he is accompanied by a host of his aides, relevant financial experts and executives from Drexel's corporate finance department.
edwardjayepstein.com /archived/milken.htm   (1656 words)

  
 Milken and his enemies - Michael R. Milken National Review - Find Articles   (Site not responding. Last check: 2007-11-06)
This failure of proportionality is par for the course in the curious prosecution of Michael Milken.
Milken's settlement with federal prosecutors in April 1990 was the end point of his March 1989 indictment on 98 counts alleging serious crimes permeating the junk-bond market, including insider trading and violations of the Racketeer Influenced and Corrupt Organizations law.
Milken from indictment to settlement despite claims of innocence is critically important to assessing both his character and his plea.
www.findarticles.com /p/articles/mi_m1282/is_n19_v42/ai_8914250/pg_1   (882 words)

  
 Making Economic Sense
Milken's "marginal value product" to the firm, or simply say that Milken was clearly worth it, otherwise Drexel Burnham would not have happily continued the arrangement from 1975 until this year.
Milken was worth it because he has been an extraordinarily creative financial innovator.
Milken and his employers, who had the sound business sense to hire Milken on commission, and to keep the commission going despite the wrath of the establishment.
www.mises.org /econsense/ch49.asp   (930 words)

  
 Free Essays - Michael Milken
Michael Milken pleaded guilty to a number of what are generally called "white-collar" crimes — as opposed to "blue-collar" crimes or those Godfather-type underground activities known as "organized crime".
Milken was no capo, but he certainly applied the general mind set of the gangster to finance.
The true similarity between Milkenism and organized crime can be found in the mind set of Michael Milken and his colleagues and the use of the underworld tactics of the con and the shakedown, the swindle and the heist, in the world of finance on a national and international scale.
www.freeessays.tv /c2560.htm   (708 words)

  
 MIKE MILKEN & THE TWO TRILLION DOLLAR OPPORTUNITY
Jensen puts the Milken episode in the context of another form of wretched excess for which Milken was the remedy: namely, the excesses of corporate waste and conglomeration by empire-building managers with scarcely any ownership stake in their companies.
But with the securitization of venture debt by Michael Milken and others, these behemoths emerge as marketplace survivors largely because of their prowess at politics, litigation and media management--core competencies that in the course of a decade succeeded both in derailing the Milken threat and enacting laws and regulations to forestall any followers.
Milken began with the crucial rule that the educational network "go first to the home, later to the schools," rather than the other way around (which was Whittle's mistake).
www.seas.upenn.edu /~gaj1/trilgg.html   (7135 words)

  
 Milken to Pay $500M, Serve 40 Months under Settlement
Imprisoned financier Michael Milken will retain a personal fortune of at least $125 million under the proposed settlement of more than 150 securities and other civil lawsuits filed over the collapse of Drexel Burnham Lambert Inc., Drexel attorneys said Thursday.
The sum does not include an estimated $300 million to $400 million that Milken's wife, children, and brother will be permitted to keep, ensuring that the Milkens retain their status as one of the nation's wealthiest families.
Milken is expected to serve only 40 months at Federal Prison Camp Pleasanton in California, a minimum-security facility, for his securities law violations.
www-tech.mit.edu /V112/N9/milken.09w.html   (720 words)

  
 Payback: The Conspiracy to Destroy Michael Milken and His Financial Revolution. - book review Public Interest - Find ...
Milken was in touch with a network of entrepreneurs who scoured the country looking for undervalued companies.
With public opinion against him, and Giuliani and the government hot on his heals, Milken eventually plead guilty in 1990 to six "technical violations" of the securities laws instead of facing trial, and he was sentenced by federal Judge Kimba Wood to 10 years in prison (though he was released in 1993).
The harshness of the government's prosecution of Milken, in which Milken was described in court documents as being "not unlike the Kingpins of other sophisticated criminal enterprises," combined with the brutal treatment he received from the media ("Barron's compar[ed] Drexel's fall with the defeat of Nazi Germany"), left Milken vulnerable.
www.findarticles.com /p/articles/mi_m0377/is_n124/ai_18579241   (870 words)

  
 Michael Milken and the Corporate Raid on Education   (Site not responding. Last check: 2007-11-06)
Michael Milken's attack on the public sphere needs to be understood as a part of the broader movement for privatization taking place in all aspects of society.
Michael Milken directly contributed to the rise of the media monopoly by pioneering the use of the junk bond for corporate media mergers.
Milken's vision of democracy excludes citizens not only from control of their own labor and control over their workplaces but also from being involved in decision-making about the kinds of work they will have available in the future.
www.electronicbookreview.com /thread/technocapitalism/rehab   (5233 words)

  
 Michael Milken
Michael Milken is an American stockbroker who made a fortune -- $550 million in 1987 -- through insider trading for junk bonds.
Michael was the first born, a child prodigy who graduated summa cum laude from Berkley.
In Michael’s chart transiting Jupiter and Rahu was in his ninth house aspecting (seventh aspect) natal Jupiter.
www.galacticcenter.org /vedic_chart_milken.htm   (1189 words)

  
 Milken Back In The Stock Manipulation Game?
Michael Milken has fought a long and hard battle to cleanse his public image, and take on the appearance of a benefactor to the sick and the uneducated, an all around good guy and positive force in the world.
Icahn was aided by Milken while Milken was at Drexel, and he assisted Icahn with several notable takeover financings, so that connection is solidly made.
Milken was involved is a very similar, highly involved and complex manipulation scheme when he was arrested and indicted in the 80's.
www.webspawner.com /users/milken1/index.html   (1020 words)

  
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Mike Milken’s career has mirrored his three main professional passions: medical research, education and finance.
He is also chairman of the Milken Institute, which conducts economic research; and the Prostate Cancer Foundation.
The Milken Scholars Program provides outstanding high school graduates with a commitment of four years of college financial assistance, counseling, volunteer opportunities and preparation for graduate studies.
www.mikemilken.com   (346 words)

  
 MilkenInstitute.org   (Site not responding. Last check: 2007-11-06)
The day’s consensus was that California remains a global leader in innovation that is at the heart of its economy, but that serious challenges such as a faltering infrastructure and a struggling K-12 education system threaten its prosperity.
The Milken Institute has received a $270,000 grant from the Jewish Community Foundation of Los Angeles (The Foundation) to help foster greater knowledge of new ways to finance Israel’s economic development.
Mike Milken and FasterCures, an initiative of the Institute, are featured in a FORTUNE magazine cover article about Milken's effort to find a cure for all types of serious diseases.
www.milkeninstitute.org   (469 words)

  
 [No title]
Whether or not Milken, in the course of his assault on the status quo, bent or broke some of the rules governing financial transactions is still being debated, with his defenders persuaded that his punishment for violating such rules was more the revenge of the establishment than the just desserts of a willful lawbreaker."
Their fall guy was Michael Milken and his supposedly malign junk bonds, which in fact had almost nothing to do with the S&L problem and have since been universally recognized as a legitimate financing tool.
Milken and others; cases based on his information collapsed … Prosecutors and politicians want scapegoats, and often have the collaboration of businessmen.
www.mikemilken.com /biography.taf?page=controversy   (898 words)

  
 Amazon.com: License to Steal: The Untold Story of Michael Milken and the Conspiracy to Bilk the Nation: Books: Benjamin ...   (Site not responding. Last check: 2007-11-06)
Milken, he states, also earned millions by churning (trading clients' accounts to increase commissions), by "sucking the blood of captive S & Ls like a vampire" and by taking a hefty cut of the greenmail paid by besieged companies to Drexel-backed corporate raiders.
Milken's debasement of capital markets begins with his misrepresentation of the seminal W. Braddock Hickman study of corporate bond returns, follows his testimony before Congress and his telling silence during his prosecution, and ends in a prison term he so richly deserved.
Milken forced banks to reexamine their own lending priorities to include a wider mix of risk profiles in their loan portfolios, and simultaneously encouraged the industry to lobby regulators for eased restrictions.
www.amazon.com /License-Steal-Michael-Milken-Conspiracy/dp/0671742728   (1716 words)

  
 Dangerous Dreamers: The Financial Innovators from Charles Merrill to Michael Milken   (Site not responding. Last check: 2007-11-06)
Precursors include Louis Wolfson--like Milken, "shy and assertive, loyal and patriotic," and a Jewish outsider--who was the first to buy up the stock of technically "undervalued" companies, break up the companies, and sell off the pieces at huge profits: In 1967, he was convicted of stock manipulation.
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 and 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.
www.beardbooks.com /dangerous_dreamers.html   (988 words)

  
 Thomas E. Nugent on Michael Milken & Congressional Spending on NRO Financial
The recent federal-budget swing from deficit to surplus could be characterized as a sign of the emergence of a new decade of greed — but this time it's the government that appears greedy.
Michael Milken's success was, in part, tied to the fact that he made other people rich.
At least when Milken was being greedy, he didn't stick it to the taxpayers.
www.nationalreview.com /nrof_nugent/nugent050702.asp   (786 words)

  
 Michael Milken settles new securities charges: 2/27/98
The charges, announced yesterday, were the culmination of a Securities and Exchange Commission probe into whether Milken violated the terms of a 1991 agreement by acting as a consultant on major business deals.
Without admitting or denying wrongdoing, Milken agreed to repay $42 million in fees plus $5 million in interest for his role in MCI's $2 billion investment in News Corp. and another undisclosed transaction, the SEC said in a complaint filed in federal court in New York.
Milken, 51, of Encino, Calif., served two years in prison and paid more than $1 billion in fines after pleading guilty in 1990 in connection with a vast insider trading scandal.
www.southcoasttoday.com /daily/02-98/02-27-98/a05wn024.htm   (265 words)

  
 University of Chicago Magazine, October 1995, Investigations
Michael Milken did no wrong and--surprise--much good, says Daniel Fischel.
Milken, heading the high-yield bond division at the investment-banking firm Drexel Burnham Lambert, raised the use of these so-called "junk" bonds to an art.
Milken also doubted whether a jury would acquit him-if only for a fact well noted in the 1989 indictment: his income, which peaked in 1987 at $550 million.
magazine.uchicago.edu /9510/October95Investig.html   (1321 words)

  
 FasterCures: Michael Milken
Mike Milken, one of America’s leading philanthropists, has been involved in medical research and educational causes for 30 years.
A decade before that, in 1982, he co-founded the Milken Family Foundation, a leading charity supporting education and research on breast cancer, pediatric neurology and genomics.
Michael Milken, The Wall Street Journal, July 14, 2003.
www.fastercures.org /sec/mmilken   (140 words)

  
 Michael Milken Was A Victim of Injustice   (Site not responding. Last check: 2007-11-06)
As demonstrated in Daniel Fischel's recent book, "Payback: The Conspiracy to Destroy Michael Milken and his Financial Revolution," it was the U.S. Securities and Exchange Commission and Rudolph Giuliani that got completely carried away with their power-hungry, envy-driven assault on Milken, whose only "crime" was that he made lots of money and earned it.
They persecuted Milken for years, destroyed his career, fined him billions of dollars and sent him to prison for silly, non-objective, technical violations that harmed nobody nor violated anyone's rights.
Michael Milken was a productive genius who benefitted everyone with his so-called "junk bonds" and his brilliant role in restructuring corporate America.
www.capitalism.org /glennw/letters4/michael_milken.htm   (191 words)

  
 Michael Milken....Gold Needs a Street Fighting Man
During the Eighties, Michael Milken led a revolution in the bond business from behind his desk at Drexel Burnham Lambert.
That is where Michael Milken comes in: the man who single-handedly revolutionized the entire bond industry to the benefit of Wall Street's "outcast" corporations and an upstart entrepreneurs is undeniably a man who has the creative smarts to reinvent the financing methodology for the precious metals sector.
Furthermore, with his vast array of financial contacts and his established ability to raise huge amounts of capital, Milken is in a position to strategize a truly innovative approach to raising large development funds for the precious metal producers.
www.gold-eagle.com /editorials_02/farfel120202.html   (1220 words)

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