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| | 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) |
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