Volume 41, Number 10 · May 26, 1994
The Golden Age of Junk
By Roger E. Alcaly
BOOKS DISCUSSED IN THIS ESSAY
Highly Confident: The True Story of the Crime and Punishment of Michael Milken
by Jesse Kornbluth
Morrow, 384 pp., $23.00
A License to Steal: The Untold Story of Michael Milken and the Conspiracy to Bilk the Nation
by Benjamin J. Stein
Simon and Schuster, 219 pp., $23.00
The First Junk Bond: A Story of Corporate Boom and Bust
by Harlan Platt
M.E. Sharpe, 236 pp., $21.95 (paper)
Money of the Mind: Borrowing and Lending in America from the Civil War to Michael Milken
by James Grant
Farrar, Straus and Giroux, 513 pp., $16.00 (paper)
King Icahn: The Biography of a Renegade Capitalist
by Mark Stevens
Dutton, 326 pp., $23.00
Den of Thieves
by James B. Stewart
Touchstone, 587 pp., $12.00 (paper)
Nightmare on Wall Street: Salomon Brothers and the Corruption of the Marketplace
by Martin Mayer
Simon and Schuster, 272 pp., $23.00
High Yield Bonds: Issues Concerning Thrift Investments in High Yield Bonds, 3/2/89, GGD-89-48
General Accounting Office
51 pp., free, $2.00 each additional document
The Predators' Ball: The Inside Story of Drexel Burnham and the Rise of the Junk-Bond Raiders
by Connie Bruck
Penguin, 399 pp., $8.95 (paper)
Michael Milken was released from prison to a halfway house on January 4, 1993, after serving twenty-two months in jail for securities fraud and other crimes. His original ten-year sentence was reduced in 1992, because he cooperated, although only in a small way, with the government investigation. A month later, he was released from the halfway house to his home in Encino, California, where he remained under a 'home confinement program' until his final release on March 2. He is required to perform community service for three years while on probation and has been working in a drug prevention program in Los Angeles public schools and has lectured at UCLA. He is now exploring the possibility of forming an educational cable-television network. At a dinner this April to raise funds for his foundation to cure prostate cancer, from which he suffers, Milken received a message from President Clinton who said how 'impressed' he was by Milken's 'energy.'
Review, 6200 words
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