Remember Michael Milken

By Ted Belman

Israel test1I am currently reading The Israel Test by George Gilder, which postulates that antisemitism is based on envy. It is a fabulous read and highly recommend it.

Jews do well in free markets where freedom reigns. Marxism and all forms of socialism penalizes them for succeeding where others fail.

I don’t mean this to be a review of the book but I mention it because of a certain event that it discusses.

Remember Michael Milken. He revolutionized the financial market by financing junk bonds. He believed that the financier could charge a high enough interest so that it could cover his losses providing he diversified. The establishment came down on him and forced him to cop a plea on some minor offenses for which he spent two years in jail. He was simply too successful for the enviers.

Oh and by the way, the companies that Milken financed are now worth over one trillion dollars.

December 12, 2014 | 3 Comments »

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3 Comments / 3 Comments

  1. @ mar55:
    Correction: I meant to say Michael as it was rumored in wall Street at the time was making half a billion a year
    or $500,000,000.00 a year. The most according to latest information he was making half of that as salary.

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  3. Milken was the one responsible for great loses for many people. Junk Bonds? How about DERIVATES? His salary of
    $500,000.00 a year plus bonuses and other perks made him one of the richest men in America. I better stop here. Thank G-d I never invested in any of his crazy ideas. For me, if it is not anything tangible, forget it.