King ofjunk

Michael Milken

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Perhaps the most influential and decisive meeting in the history of the high-yield bond market took place almost exactly 20 years ago. It was a meeting that, arguably, would change the face of the US – and global – capital market for good. It was a meeting that would shake up the US investment banking community. And it was a meeting that would ultimately put corporate America on notice that sloppy or idle management teams, happy to drift through life without maximising returns for their sharehol

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