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Daniel Fischel’s Followers (1)
Daniel Fischel
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Payback: Conspiracy to Destroy Michael Milken and His Financial Revolution, The
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published
1996
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5 editions
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Of Courtiers and Kings: More Stories of Supreme Court Law Clerks and Their Justices
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* Note: these are all the books on Goodreads for this author. To add more, click here.
“New successful products, particularly Teddy Grahams snack food, were introduced. Debt was quickly paid down using proceeds from asset sales and the sale of new equity. By the end of 1991, the RJR Nabisco buyout created more than $10 billion of value for investors. The critics, like Time, who predicted the buyout would threaten American survival and lead to anarchy could not have been more wrong.”
― Payback: The Conspiracy to Destroy Michael Milken and his Financial Revolution
― Payback: The Conspiracy to Destroy Michael Milken and his Financial Revolution
“Getting the government on your side when you are facing a tough fight in the marketplace is a time-honored technique in American economic history. The usual approach is to equate the competitive threat to you with injury to society, to exaggerate the magnitude of the danger beyond recognition, then claim that government regulation is the only solution. Whether the fight is between domestic versus foreign producers, railroads versus truckers, or optometrists versus ophthalmologists, the pattern is always the same. So too in the clash between the establishment defenders and the takeover entrepreneurs.”
― Payback: The Conspiracy to Destroy Michael Milken and his Financial Revolution
― Payback: The Conspiracy to Destroy Michael Milken and his Financial Revolution
“Differences in information and judgment are precisely what creates the possibility of gain in the market. These differences, and the ability to trade on them, are what distinguish a market where goods and services are allocated, and their value determined, from a gambling casino or a lottery. Presumably not even the government wanted to turn our securities markets into pure games of chance.”
― Payback: The Conspiracy to Destroy Michael Milken and his Financial Revolution
― Payback: The Conspiracy to Destroy Michael Milken and his Financial Revolution
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