Difference between revisions of "Drexel Burnham"
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(Created page with "''' Drexel Burnham Lambert''' was an American investment bank that was forced into bankruptcy in February 1990 due to its involvement in illegal activities in the junk b...") |
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| + | |wikipedia=https://en.wikipedia.org/wiki/Drexel_Burnham_Lambert | ||
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| + | |start=1935 | ||
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''' Drexel Burnham Lambert''' was an American [[investment bank]] that was forced into bankruptcy in February 1990 due to its involvement in illegal activities in the [[junk bond]] market, driven by senior executive [[Michael Milken]]. They were responsible for many high profile [[leveraged buyouts]] of many large corporations in the [[United States]] during the 1980s. <ref>https://www.businessinsider.com/meet-ivan-boesky-the-infamous-wall-streeter-who-inspired-gordon-gecko-2012-7#boesky-made-most-of-his-money-illegally-by-insider-trading-6</ref> | ''' Drexel Burnham Lambert''' was an American [[investment bank]] that was forced into bankruptcy in February 1990 due to its involvement in illegal activities in the [[junk bond]] market, driven by senior executive [[Michael Milken]]. They were responsible for many high profile [[leveraged buyouts]] of many large corporations in the [[United States]] during the 1980s. <ref>https://www.businessinsider.com/meet-ivan-boesky-the-infamous-wall-streeter-who-inspired-gordon-gecko-2012-7#boesky-made-most-of-his-money-illegally-by-insider-trading-6</ref> | ||
==Activities== | ==Activities== | ||
| − | + | Drexel Burnham was the investment fund that financed [[KKR & Co]]'s takeover of [[RJR Johnson]] for $24.88 Billion in 1988.<ref>https://www.chicagotribune.com/news/ct-xpm-1989-03-19-8903270950-story.html</ref> | |
| − | Drexel Burnham was the investment fund that financed [[KKR & Co]]'s takeover of [[RJR Johnson]] for $24.88 Billion in 1988. <ref>https://www.chicagotribune.com/news/ct-xpm-1989-03-19-8903270950-story.html</ref> | ||
On November 14, 1986, longtime Milken client [[Ivan Boesky]], pleaded guilty to SEC charges of insider-trading violations based on allegations made by investment banker [[Dennis Levine]]. | On November 14, 1986, longtime Milken client [[Ivan Boesky]], pleaded guilty to SEC charges of insider-trading violations based on allegations made by investment banker [[Dennis Levine]]. | ||
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| + | ==References== | ||
| + | {{reflist}} | ||
| + | {{Stub}} | ||
Revision as of 23:59, 23 August 2019
 Drexel Burnham  (Bank)   | |
|---|---|
| Formation | 1935 |
| Extinction | 1994 |
Drexel Burnham Lambert was an American investment bank that was forced into bankruptcy in February 1990 due to its involvement in illegal activities in the junk bond market, driven by senior executive Michael Milken. They were responsible for many high profile leveraged buyouts of many large corporations in the United States during the 1980s. [1]
Activities
Drexel Burnham was the investment fund that financed KKR & Co's takeover of RJR Johnson for $24.88 Billion in 1988.[2]
On November 14, 1986, longtime Milken client Ivan Boesky, pleaded guilty to SEC charges of insider-trading violations based on allegations made by investment banker Dennis Levine.
Known member
1 of the 2 of the members already have pages here:
| Member | Description |
|---|---|
| Michael Milken | Financial speculator known for his role in the 1980s boom and bust. Convicted criminal. Later turned his focus to investments in Big Pharma, using "philanthropy" as cover for lobbyism. |
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