The Predators' Ball The Inside Story of Drexel Burnham and the Rise of the JunkBond Raiders

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Edition: Revised
Format: Paperback
Pub. Date: 1989-06-01
Publisher(s): Penguin Books
List Price: $17.85

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Summary

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. Book jacket.

Author Biography

Connie Bruck has been a staff writer at The New Yorker since 1989 where she writes about business and politics. Her pieces have won multiple awards for reporting and journalism. Her stories have also appeared in The Washington Post, The New York Times, and The Atlantic Monthly. She is the author of three books: Master of the Game, The Predators’ Ball, and When Hollywood Had a King.

Table of Contents

Prologue: The Ball 10(11)
PART ONE: Spreading the Gospel 21(82)
The Miner's Headlamp
23(17)
Dr. Feelgood
40(10)
Transformation
50(12)
Merge with Mike
62(16)
The Cloister at Wilshire and Rodeo
78(11)
The Air Fund
89(14)
PART TWO: Pawns Capture Kings 103(138)
Triangle-National Can: Kingmaker
105(44)
Icahn-TWA: From Greenmailer to Manager-Owner
149(44)
Pantry Pride-Revlon: The Crucial Campaign
193(48)
PART THREE: The Zenith---and the Fall 241(119)
``Drexel is like a god..''
243(23)
Proven Prophet---So Far
266(9)
Milken's Money Machine
275(10)
The Enforcer
285(12)
Sovereign Privileges
297(20)
Boesky Day
317(13)
The Center Cannot Hold
330(14)
The Humbling
344(16)
Afterword 360(13)
Acknowledgements 373(4)
Index 377

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