Bring Us the Head of Michael Milken!; the three reasons behind the downfall of Michael Milken [*SIGNED*]

  • SIGNED Softcover
  • Manhattan Beach CA: Quandary House, (c.1993)
By Grant, R.W.
Manhattan Beach CA: Quandary House. Very Good+. (c.1993). First Edition. Softcover. [some foxing/spotting to front cover, no other significant wear]. INSCRIBED briefly and SIGNED by the author on the front endpaper. A privately-published defense of Milken (who at the time was about to be released on parole after having served 22 months in prison for various securities and tax violations), who the author did not see as the "obsessive and cynical racketeer" that had become his media image. In his view, Milken had been engaged in "entirely legitimate" activities, but was ultimately brought down not because he had defrauded people (a judgment that the author prefers to leave to the reader's own conclusion), but because of three factors: (1) fear and loathing from within the corporate community; (2) an unfriendly media; and (3) "ideological law," which he defines as "a body of business regulation based not on objective standards and real victims, but on subjective notions of 'fairness,' 'a level playing field,' or whatever." After a discussion of these factors, the book presents a series of appendixes: (A) a summary of the original indictment against Milken; (B) scrutiny of the agencies and individuals comprising the prosecution; (C) an analysis of "the question of whether Milken and junk bonds were really wrecking the economy and destroying jobs, as many continue to believe"; (D) "historical notes on the role of the U.S. Government in protecting favored economic interests"; (E) an account of the career of J.P. Morgan, to whom Milken was often compared; (F) a discussion of "the often-hostile attitude of the intellectual toward capitalism"; and finally (G) a discussion of "one of capitalism's most troublesome dilemmas: the conflict between the opposing philosophies of individualism and altruism." Many would argue that Milken, who has become a major philanthropist in the years since his release from prison, has redeemed himself; but he's done all right for himself, too, having managed to become a multi-billionaire (currently ranked #483 on the Forbes Real-Time Billionaires list -- quite a bit above Donald Trump (#637), who, incidentally, pardoned him in 2020). This publication is remarkably scarce, with OCLC recording only two library holdings. Signed by Author .

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