importance of Michael Milkin in the development of
the junk bond market.
New to the game can anyone just tell me something about him and his importance
2007-11-20 12:57:55 · 2 answers · asked by metrosomething 1 in Business & Finance ➔ Investing
He was the ace of junk bonds, but went outside of the law and got sent to prison.
2007-11-20 13:01:10 · answer #1 · answered by Anonymous · 1⤊ 0⤋
He was responsible for its growth and for its demise. Prior to Milkin, the only Junk Bonds were "fallen angels." Those are bonds that were originally investment grade & ran into trouble. Milkin was responsible for creating a market for low quality bonds that were originally issued as below investment grade. He manipulated the numbers ot make them seem like they were safer.
He is a liar and a thief (in my opiniion)
2007-11-20 21:38:52 · answer #2 · answered by Ranto 7 · 1⤊ 0⤋