Showing posts with label Michael 'Junk Bond King' Milken. Show all posts
Showing posts with label Michael 'Junk Bond King' Milken. Show all posts

Tuesday, July 24, 2012

'Balanced between fear and greed'

Image via VeracityStew.com
Following his daddy's advice to " never get involved in politics if you have to win election to pay a mortgage" Willard Romney knowingly entered the dark, shadowy underworld of financial criminality and "junk" bonds in the mid-80s and never looked back.

Looking for easy money and a big payoff to fuel his insatiable political ambition and greed, Romney decided in 1988 to brush up against one of the most prolific financial criminals, in the middle of an intensive Securities and Exchange investigations.
"What transpired," writes Boston Globe staff, "would become not just one of the most profitable leveraged buyouts of the era, but also one of the most revealing stories of Romney’s Bain Capital career."
Romney's unbridled greed led him to hook his fortunes to now-convicted felon Michael Milken, known in financial circles as "The Junk Bond King."