Small 4to. Black and red paper over boards with silver spine lettering, dust jacket. xv, 249pp. Illustrations. Very good/very good. Remainder mark on bottom page edges. First edition, tight and clean.

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Bibliographic Details

Title

April Fools: An Insider's Account of the Rise and Collapse of Drexel Burnham

Publisher

Donald I. Fine, New York

Publication Date

1990

Language

English

ISBN 10

1556112289

ISBN 13

9781556112287

Binding

Hardcover

Edition

1st Edition

Dust Jacket Condition

Dust Jacket Included

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About this title

Synopsis

A former Drexel Burnham employee chronicles the firm's ascent, Michael Milkin's activities with the firm, and the company's eventual downfall

Reviews

Stone, a former divisional vice-president at Drexel Burnham, offers an accessible and authoritative, if subjective recapitulation of the brokerage and investment company's spectacular rise in the mid-1980s--largely on the basis of Michael Milken's inventive junk bond activity. The author depicts the firm's subsequent bankruptcy and demise as a Greek tragedy; top Drexel management and 10,000 employees were dragged down by Wall Street villains Dennis Levine, Ivan Boesky, Carl Icahn and others. Milken and Drexel Burnham itself were indicted on charges of racketeering, insider trading, fraud and/or stock "parking" and manipulation. Stone describes charged staff meetings, tense NYC-West Coast conference calls moving millions of dollars from buyers to sellers, the October '87 market crash and general fear and dismay as Congress, the SEC and U.S. Attorney Rudolf Giuliani slowly closed their investigative nets. This best-yet untangling of the infamous financial imbroglio will instruct lay and informed reader alike. 50,000 first printing.
Copyright 1990 Reed Business Information, Inc.

Despite Connie Bruck's The Predator's Ball: The Junk-Bond Raiders & the Man Who Staked Them (S. & S., 1988), this book is the first and only inside look at the Drexel Burnham debacle. Stone, a former vice president, brings a sober and dispassionate view to the "go-go" years of junk bonds and accumulated vast personal fortunes. He uses his personal experience to shed light not only on Michael Milken, the financial whiz, but also on the man. Never dull, this account offers anecdotes on the major Wall Street players of the 1980s: Drexel CEO Fred Joseph, wheeler-dealer Ivan Boesky, and federal prosecutor Rudolph Giuliani. Sure to be of value to business collections, this will also be a nontechnical, readable option for general readers interested in the infamous scandal.
- David M. Turkalo, Social Law Lib., Boston
Copyright 1990 Reed Business Information, Inc.

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Main Street Fine Books & Manuscripts has been buying and selling quality books, autographs and ephemera since 1991. We specialize in general antiquarian, first editions, signed books and autographs and documents. We are members of the Antiquarian Booksellers' Association of America (ABAA), Midwest Antiquarian Booksellers Association (MWABA), Universal Autograph Collectors Club (UACC) and The Manuscript Society.

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Main Street Fine Books & Manuscripts, Ltd.
9304 Saturn Ln, Galena, IL, 61036, U.S.A.

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