Milken, in many ways, played the role of enforcer. He had to control the situation. At first it was the buyers, then it was different aspects of the situation as he control the investment fund for his group. Milken was not challenged by many people and things were done the way he wanted them done. Milken had control even though the opportunity for abuse existed. Drexel's clients paid the high fees because they knew that Milken would help them when they needed help and he took it personally if they did business with someone else. Milken was so powerful that people could not afford to insult or alienate him. Drexel gouged them with fees and high prices, but their customers made money.
Some customers received better deals.....
