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Because of his extraordinary control over the junk-bond market, Milken could buy back securities at artificially low prices from Drexel clients who had no way of knowing their actual value; sell them to Boesky at a small profit; have Boesky
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“But although the cliche says that power always corrupts, what is seldom said ... is that power always reveals. When a man is climbing, trying to persuade others to give him power, concealment is necessary. ... But as a man obtains more power, camouflage becomes less necessary.”
― The Passage of Power
― The Passage of Power
Dan’s 2025 Year in Books
Take a look at Dan’s Year in Books, including some fun facts about their reading.
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