Part 3: Chapter 12, Milken's Money Machine Summary and Analysis

There were many people doing junk bond financing by fall of 1986. They would imitate Milken and some times beat him on deals by offering better prices but they could not overtake him and beat him at his own game. Many who started with Milken, like the money managers in the late 1970s, were now running their own funds. Milken would also help people find jobs when they needed them or wanted to make a change. They weren't always at Drexel. He found many people jobs with the different investment funds. People who left Drexel on friendly terms had Milken's assistance finding jobs.

Milken had a lot of pools that he could easily draw upon one of which was Atlantic Capital. The company was involved with unmonitored investments under Peer Wedvick who had a...