The Predators' Ball: The Inside Story of Drexel Burnham and the Rise of the Junkbond Raiders by Connie Bruck
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(Paperback - Updated)
- Pub. Date: June 1989
- 400pp
- Sales Rank: 54,606
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Product Details
- Pub. Date: June 1989
- Publisher: Penguin Group (USA)
- Format: Paperback, 400pp
- Sales Rank: 54,606
- ISBN-13: 9780140120905
- ISBN: 0140120904
- Edition Description: Updated
Synopsis
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.
Annotation
During the '80s, Michael Milken at Drexel Burnham created the corporate raiders. He was the billionaire Junk Bond King. But, in the corner stood the U.S. District Attorney waiting to file criminal and racketeering charges.
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Not the best of this genreby DrAndy
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February 16, 2009: Den of Thieves covers the same material so much better that there is little point to reading this book, other than to be satisfied that you've read all there is on the subject. Bruck does have more information about some of the major arbitrageurs referred to in Den of Thieves, but the other book is so much richer in every way that it hardly matters.
A Piece That Has What Others Don't.by Anonymous
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September 02, 2007: Highly regarded as one of the finest pieces of business investigative journalism written, Connie Bruck's groundbreaking work on the subject of junk bonds and corporate financing was written during a time when the business press universally admired Drexel Burnham for their ability to turn junk into gold. You will find this book quite entertaining and comprehensible. A smooth read not filled with too much industry jargon, its nomenclature friendly enough even for the beginner. It highlights the bright sides as well as the dark sides of the critically acclaimed Junk-bond king Michael Milken and allows each of us to have his or her own view on Milken and Drexel Burnham's underlying philosophy. Although the book does lean heavily towards Milken having a me first attitude, it does manage to pin down a few important business lessons underscored by him that cannot be overlooked. You will no doubt waste any time reading this piece. You will definitely be on the winning side by reading this book. This book will definitely generate scores of topics to discuss and debate about the philosophies of American business that dominated Wall Street in the 1980s. A definite must read for those interested in banking, financial history, and especially for business students.
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