The Predators' Ball: The Inside Story of Drexel Burnham and the Rise of the JunkBond
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The Predators' Ball: The Inside Story of Drexel Burnham and the Rise of the JunkBond
An insightful portrait of junk-bond powerhouse Drexel Burnham Lambert and infamous financier Michael Milken, “one of the most brilliant minds ever to have been dedicated to Wall Street's money games.†(TheNew York Times).
Milken is purported to have offered to pay award-winning journalist Connie Bruck to stop work on this book, the fascinating story of how a singularly brilliant and intensely private investment banker essentially masterminded the creation of the junk bond market, generating billions of dollars in profits for his clients and himself before ultimately being brought down by charges of insider trading, stock manipulation, and fraud under the RICO Act. Bruck’s in-depth narration of the phenomenal career of the man nicknamed “the Junk Bond King†spans Milken’s early dealings in high-yield bonds as well as numerous corporate raids and hostile takeovers guided by tactics that were undoubtedly revolutionary, if sometimes unethical—and occasionally outright illegal. Standing alongside other blockbuster tales of business malfeasance such as Liar’s Poker and Too Big to Fail, The Predators’ Ball is a shocking, bemusing, and enlightening portrait of an era when it seemed anything was possible on Wall Street—as long as Michael Milken was in your Rolodex.
