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

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.

Connie Bruck has been a staff writer at "The New Yorker since 1989; she frequently writes about business and politics. In 1996, her profile of Newt Gingrich won the National Magazine Award for reporting, her second. Bruck is the author of "Master of the Game and "The Predators' Ball. She lives in Los Angeles.

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