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Apr 1, 2015 · The tale of Drexel Burnham Lambert's unlikely rise, gargantuan heights, and calamitous fall is the story of Wall Street. ... A quarter of a century after Michael Milken wept “I transgressed ...
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- Stuck in Seattle
10,000 (1986) [1] Drexel Burnham Lambert Inc. was an American multinational investment bank that was forced into bankruptcy in 1990 due to its involvement in illegal activities in the junk bond market, driven by senior executive Michael Milken. At its height, it was a Bulge Bracket bank, as the fifth-largest investment bank in the United States.
- 1935
- 60 Broad Street, New York, New York, United States
- I. W. "Tubby" Burnham
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Mar 8, 2024 · Michael Milken, the “junk bond king,” revolutionized corporate finance at Drexel Burnham Lambert. Indicted in 1989, Milken served two years in prison for securities fraud and was later pardoned by President Trump in 2020. Milken’s philanthropic efforts include co-founding the Milken Family Foundation and the Milken Institute.
Feb 19, 2020 · Michael Milken in 1989: the former head of Drexel Burnham Lambert's high-yield junk bond department was sentenced the following year to 10 years in prison after pleading guilty to securities fraud ...
Feb 14, 1990 · February 5, 1990: Drexel Burnham Lambert Inc. reports loss of $40 million on revenues of $4.1 billion for 1989. February 13, 1990: Drexel Burnham Lambert Group, the holding company, is strapped ...
Feb 13, 2015 · Neal Boenzi/The New York Times. Edwin Kantor, the onetime head of trading at Drexel Burnham Lambert, told The New York Times in 1995, “People used to be afraid to put Drexel on their résumé.”. “Now they want it to be there.”. Today, 25 years after Drexel collapsed, alumni of the investment bank occupy some of the most powerful ...
Jan 26, 1989 · Drexel Burnham Lambert Inc. formally agreed to fire Michael Milken, the Beverly Hills financier whose creative use of junk bonds built the firm into a powerful force in corporate America, and to ...
