John is joined by Richard V. Sandler, partner at Maron & Sandler and author of Witness to a Prosecution: The Myth of Michael Milken. Richard is the personal attorney and life-long friend of Michael Milken. He represented Michael in the 1986 federal investigation and prosecution off Drexel Burnham Lambert, and its High Yield and Convertible Bond Department, a department Michael created and was head of. Michael was the most successful and innovative financier of his time and Drexel, an upstart investment bank, was the most successful securities firm on Wall Street, thanks to Michael. Led by Drexel, the high yield bond market grew rapidly from the end of the 1970’s from $70 billion to over $2.2 trillion dollars in 2022. John and Richard discuss the highlights of what happened in the case, the tactical decisions and key turning points, and the lessons to be drawn from this historic prosecution.
Published: Oct 12 2023