Den of Thieves Reviews

• Unbelievable story told with skill.

  
  By ATN1SSKTJD8Z8 on 2005-08-15
  Den of Thieves is a snapshot of human nature showing its seemy side. Stewart's book has a cast of characters you couldn't believe if it were a work of fiction. The most brilliant thing about "Den of Thieves" is the range of villians in the book; no two come to their law-breaking in the same manner or embrace it to the same degree. All of them find temptation (usually in the form of large heaps of easy money) too hard to resist.
  
  Stewart avoids the temptation to paint all of his law-breakers with the same brush and just focus in on the nuts and bolts of the story's timeline. Instead, he allows you to meet each individual and see how they became embroiled in Wall Street's worst scandal since the 1930s. You see some of the simple unrepentant scumbags you'd expect (Levine most closely fits the bill), but mostly you see more complex people. Milken comes off as a truly broken person who was never completely connected to reality in the same way most of us are. Most of the players come off as ordinary people who, on their own, would have cruised through their careers in uneventful fashion if not presented with a tempting, lawless option by a more proactive criminal. Each of the perpetrators has their own level of comfort with their involvement in the insider trading scheme. Some are so uncomfortable that they get out of the scheme on their own, some cry over the money they can't bring themselves to stop taking, and of course some just think they are God's gift to the financial world.
  
  You also get to see how law enforcement can work in a situation like this - sometimes it isn't very pretty. You come to realize that regulators and public prosecutors are imperfect people in imperfect situations, subject to their own set of desires, temptations and problems. Rudy Guliani's office prosecutes this case in the public eye while he positions himself to run for Mayor of NYC. The SEC unwittingly committs a huge insider trade of its own by allowing Ivan Boesky to unload his portfolio before the public announcement of his arrest and cooperation with authorities - so he can pay them his $100 million fine. (It seems temptation's not quite as far away as the authorities think).
  
  Great story. Great character development. Great lessons. Highly recommended.
  
  

• "Den" of Inequity

  
  By A2VF3BXFXXTEPL on 2002-05-16
  In Den of Thieves, James Stewart gives us a gripping account of the insider trading ring that almost brought down Wall Street.

  As a student studying finance, I was told to read this book by my cousin who worked in the financial world. After I finished, I had a more realistic view of the intensity of Wall Street. This intense competition and desire for money drove some people over the edge. Such was the case for Michael Milken, Ivan Boesky, Terry Mulheren, and their cohorts. To a certain extent, these men were driven to cheat and steal by insatiable greed.

  You do not have to know much about the financial world to enjoy this fast paced thriller. The joy in this book is in the hunt. Once the SEC became aware of Milken's activities, they had to find a way to prove it and then had to take Milken down. Once Milken was taken out of his office in handcuffs and Rudy Guliani began to build his case, Milken's "associates" began to sing like canaries in the hope of cutting a deal with the government.

  I love reading books about criminals who get what is coming to them. Michael Milken and friends deserved every bit of jail time they got. This definitely a book about criminals getting what they deserved. James Stewart draws you in within the first 20 pages, from there I hope you have some spare time because you will not be able to put it down.
  
  

• Journalistic Self-Promotion---Revisited

  
  By on 2002-07-09
  I read this book when it first came out in the early 90s, the summer before entering business school. At the time I thought, like many who had recommended the book, that it was a first rate piece of journalism based on sound, unbiased research.
  I have since learned that this book is nothing of the sort. In fact, it is a summary of one erroneous conclusion after another, based upon faulty, incorrect, hearsay 'evidence' and a wanton disregard for the truth. Moreover, I now believe that such poor authorship can mean only one thing--that Mr. Stewart was never out to reveal the truth, but instead, to make a name for himself.
  
  

• Aspiring journalists must read this book

  
  By AFXMTGF9XLJM1 on 2002-04-23
  Stewart has done an exhaustive study of the Milken, Boesky, Siegel & Levine insider trading scandals. At age 11 (old for a book about economics) it still holds up very, very well.

  He tells the story of the US Market Crash of 1987 from May, 1986 through November, 1990. His sources are mostly court records and first-person interviews.

  There are not enough journalists who can cull the (extensive, and public) record and write clearly about the transgressions that resulted in the evaporation of 1/3 of the entire US Stock Market's value in ONE DAY.

  This litigator wishes that there were 10,000 Stewarts combing the court records alone. The "public record" is so rarely used as a source and it is a great waste that more journalists don't take a few hours to look at the current cases pending before their local federal and state courts. Best sellers are made of this stuff!
  
  

• Reads well, but not very objective. Needs math lesson.

  
  By A1PF0JNPLFSHKK on 1999-10-23
  First read this book in college. Reread it recently have having spent the last five years in the finance industry, several in high-yield investment banking. As a narrative, the book is a nice read, especially the first half. But to say that it's not an objective piece of work would be hyperbole. Stewart does well capturing the flavor and the sensationalism of the times but his assessment of Milken or Drexel or the high yield market, is not a sober or accuate one. And his numbers didn't always add up. (Take a calculator to those pages explaining bond commissions.) In the end, Stewart comes off as just another conspiracy theorist, before the conspiracy theories were in vogue. Still, kind of a fun read.
  
  
• Excelent reading for those interested in investment Banking
  By on 1999-10-01
  This book was really well writen and covers the breadth of what goes on in the investment banking world. I like the introductions on how the major investment houses started, and the roles of the Investment bankers, traders, lawyers, arbitragers etc. The central figure is Michael milken, who the book suggests is greedy and foul. The book is obviously on the side of US law enforcement, who some argue were biased and sought to destroy Milken for other motives. On the whole, I think it is a great book and it really helps one understand the whole finance game, and what happens (or used to happen) in wall street. Being from an Engineering and computing background, but with interest in M&A myself, I feel this book was really cool. I however reserve my judgements on Michael Milken till I read another book that is pro Milken. Taking away the crime aspects, I think Michael Milken is a genius.
  
  
• A fascinating look at a complex and amazing scandal.
  By A2OS2NZOH7L3N9 on 2001-12-11
  The 1980's were known as the "Greed Decade" but, for many, the true excesses of that greed were never fully known or are now only a distant memory. James Stewart's book, "Den of Thieves" provides a comprehensive, fascinating and readable look at the insider trading scandals of the 1980's which brought words like
  arbitrageur and LBO into the mainstream and people like Boesky and Milken household names.

  Stewart begins by looking at the rise of some of Wall Street's highest fliers and, in many cases, providing exhaustive details of how the prevailing mantra of "greed is good" led them to orchestrate their own downfall. The audacity of many of these people is almost breathtaking, as is the wealth they accumulated. Stewart moves on to detail the process by which the government, in the form of the SEC and then-US Attorney Rudy Giuliani, brought this house of cards tumbling down. The various players in the game are portrayed with varying degrees of sympathy. However, the government authorities are not necessarily portrayed in the most flattering light and Stewart raises a number of questions about the overall handling of the investigations.

  One word of caution - readers should not get too bogged down in the details of the story. The insider trading scandal involved
  hundreds of players and transactions and schemes that were unbelievably complex. It is almost impossible to assimilate the entire story without getting somewhat confused. Nevertheless, the book is at its most effective when you take a step back and look at the grand scheme of the insider trades, the methods by which the perpetrators were brought to justice and the punishment they suffered from their crimes. In many ways, the book was published before the story reached a final conclusion and it would be worthwhile for a revised edition to be published, updating the status of the actors involved and the fallout of the revelations which the investigations brought.

  Overall, this is a fascinating and well written book which raises fundamental questions about the way business was, and is, conducted and the way in which the justice system operates. I would highly recommend it as the definitive account of the insider trading scandals of the 1980s.
  
  

• James B. Stewart, great journalist, suberb story teller!
  By A2OYVE25HF4JIJ on 2000-12-10
  An absolutely outstanding look at the '80s Wall Street culture and the inside operations of Michael R. Milken, Dennis B. Levine, Ivan F. Boesky, Martin Siegel... and many, many other players on Wall Street, including U.S. Attorney Rudolph Giuliani & the SEC investigations. Wall Street--Economic History worthy of reading.

  Other great, outstanding books on the subject: "A Licence to Steal: The untold story of Michael Milken and the conspiracy to bilk the nation." by Benjamin J. Stein; and also: "Ther Predators's Ball" by Connie Bruck.

  And because James B. Stewart is such an outstanding writer, I also read, which was a great book as well, written in story book fashion again: "Blood Sport: The President and his Adversaries" by James B. Stewart, a #1 New York Times Bestseller.
  
  

• Great lesson in how to dramatize and sell books..
  By A2W2FTLKYKUA0L on 2006-06-07
  Anyone that knows anything about Milken knows that the guy created millions of jobs, and contributed much more to society than people like James Stewart, who often act like parasites at the expense of others.
  
  And what about Milken's life after this whole affair? I wonder what Stewart will write about in the sequel, since Milken has taken on a life of philanthropy basically unrivaled, and certainly contributes more to this country than most. Milken's creation of a liquid market for junk bonds allowed credit risk to be redistributed throughout the capital markets, effectively creating more capital, more jobs, and more wealth creation.
  
  Anyone up and coming in IB, or looking to inform themselves of the 80's capital movement, please at least check out some other perspectives on the era.
  
  Note: These comments don't apply to Boesky or the arbs who were doing nothing but breaking the law. I would argue a strong distinction between Milken and most of the other characters in this book.
  
  
• Read an Objective Account Instead
  By on 2000-08-05
  James Stewart should have known better than to rely entirely upon hearsay, and then feed the rumors to assist the unsavory, and many times unconstitutional, practices of New York prosecutor Rudolph Giuliani. It reads like a gripping tale of fiction, since most of the facts are invented, especially of Michael Milken. Stewart's naive understanding of high-yield debt financing and the very concept of leverage renders this book a mere gripe session for the author. His mathematics are innacurate and the emotionalism is copious.

  Although currently out of print, I suggest Daniel Fischel's "Payback: The Conspiracy to Destroy Michael Milken and his Financial Revolution."
  
  

• Gripping and Accurate
  By A1M85E2J40D3JZ on 2004-01-28
  Having re-read this book last week, it took me back to a time and a place I really didn't want to visit but found I should. Having been lured to Drexel, Burnham as a senior executive (from Morgan, Stanley in 1986) only weeks before the scandals hit -- and having witnessed the lava-roast at that firm -- it amazes me how Mr. Stewart was able to re-create events. Along with Predators' Ball, this book serves as an example of the power of quality investigative journalism. Filled with my own stories of similar dealings, I understand fully that his observations hit dead-center at the bullseye of the truth of that decade.

  One comment in the Epilogue struck me as almost sad. Mr. Stewart says, in the wake of these scandals: "Wall Street has given every sign of being severely chastened." Too bad that wasn't the case.

  Now myself a writer with somewhat less courage, perhaps, than Mr. Stewart (I've written about abuses/dangers on Wall Street, but write them as financial thrillers and opinion pieces -- it's safer, I think), I can only hope that with each scandal we get a little more honest, a little more chastened. Too bad I don't see that happening. Not yet, at least.
  
  

• Ingenuity, greed, profiteering- This book has it all.
  By on 1999-12-04
  This book lays out all of the insider trading securities laws violations that were so prevalent in the 1980's. Stewart writes in a way that is simple without being simplistic. Den Of Thieves is a fast-paced documentary that anyone will find enjoyable to read.
  
  
• Insightful Read on the "Greed" Decade
  By A1SWZC0IQ9HM1X on 2000-09-03
  The book was an excellent narrative, first off. Stewart does a fine job with the "action" part of the story. While it might be true that some of his analysis is off (see other reviews), it still gets the point across.

  While obviously Stewart has a pro-U.S. Attorney and SEC slant, if the book was entirely truthful (which indications say is so), then readers really have no choice but to come away with the verdict that Michael Milken, albeit a visionary in some sense and a great salesman, was really a crook who cost the taxpayers billions and unfairly ruled the junk-bond market with an iron fist. Especially interesting is Stewart's theory on how junk bonds contributed to the S&L debacle in the late '80's.

  All-in-all, the narrative is great, and the analysis seems to be decent. It really makes the blood boil, however, to learn how Milken especially duped the system and then got away with a too light sentence (although it actually could've been shorter had Milken had more common sense)
  
  

• Not much in common with Wall Street today, I Hope!
  By A5HMT6ZOBUAVM on 2000-11-22
  Criticisms of this book center around the details of bond trading, specifically the authors miscalculation of commissions. Also, perhaps, some hearsay is included as facts. The author states that no anonymous sources are quoted, but there were un-named and 'not-for quote' sources used.

  You either believe that the main characters (Michael Milken, Ivan Boesky, Martin Siegel, Dennis Levine)said what they said in the book or not. It's relevant because if true,Levine was a bigoted racist as well as a common thief. Not only did he rummage in associates desk drawers and files looking for inside information but he is quoted as saying that he could not understand a banker friend (who was interested in international lending to Third World countries)because all he wanted to do was "help the niggers and the spics." How's that for your respectable Investment Banker?! The point of the quote is this - Levine was not representative or typical of the 'new' banker but his comment shows that motives such as self interest and personal greed would certainly have found fertile ground to flourish in.

  The book accurately portrays the characters (including the seedy ones),their backgrounds and the environment they found themselves in. Wall Street of the late 1970's and early 80's was changing.The Wall Street establishment of old money investment houses (Goldman-Sachs,Morgan Stanley,Kidder Peabody, Merrill Lynch, etc)and stately (maybe even stale)banks such as Citibank and First Boston were being forced to make room for investment brokers and arbitrageurs (Drexel, Burnham & Boesky & Co. etc).

  New products, new people, new methods were being introduced. The new bankers were not your starched white shirt, conservative, Ivy League trained, WASP corporate types. They were first of all, younger and from different class, educational and ethnic backgrounds. Many of them were from immigrant or Jewish working or middle class families and felt themselves to be ostracised and generally outside of Wall Street. They were not all motivated by greed and certainly were not all Dennis Levines, but for a few, given the opportunity,the positions of power and the money, and now that they were 'In' they were going to change things around. Sales techniques and hustle was now more important than where you graduated from. Presentations to corporate boards were out, replaced with speadsheet analysis of cash flows and trades over the phones. The movement was towards allowing some who were previously spurned by Wall Street to get in on the action. They were going to shake up the system and as Milken himself said "tee up GM, Ford and IBM and make them cringe".

  I don't find the book villifying Milken as the Devil himself but then again it doesn't portray him in a positive light either. I don't have any problem with that because I am of the view that he was a crook. A brilliant, driven, powerful and extremely wealthy and well connected financial innovator but... still a crook.

  Overall the book is written with a bias towards the SEC investigation and uncovering of the insider trading scandal and the subsequent arrests of Levine, Boesky and Milken. From the perspective of 10 years on, the book is of more historical interest. All of the principals have served their time and most of the companies are gone (merged or metamorphosed). There are some interesting vignettes of people who since then have gone on to bigger and better things. You can read about Robert Rubin when he was still at Goldman Sachs, Rudy Giuliani when still US Attorney and Chuck Schumer when still only a Congressman who was critical of the SEC. There are also 8 pages of photos of the major players.
  
  

• An Outstanding Book!
  By AUGABW5AS2OXM on 2001-06-04
  This was an outstanding book about some dishonest financiers. You get a good closeup look at some of the most dominant figures in the world of high finance during their time.Michael Milken, Dennis Levine,Ivan Boesky,and Dennis Levine about brought to the front and center due to the efforts of this book. The tactics(such as stock Parking)are explained in this book. The number one financial tool of this era,junk bonds also recieve adequate attention and explanation in this writing. The king of the junk bond Michael Milken is well highlighted in the book as well.Also portrayed in the book was the prosecution efforts of Rudolph Guliani. The greedy nature of these people and of this time is adequately highlighted due to this book. This is an excellent read on this subject. in the book was the prosecution efforts of one Rudolph Guliani
  
  
• If you enjoy the investment world, this is for you!
  By A41KHSGT5MAPA on 2004-02-26
  This was one book that I could not put down. The book is broken into large sections, each dealing with a particular criminal and his corresponding activities. In-depth descriptions of what was going on behind the scenes at some of the most respected financial firms of the time--absolutely fascinating. If you were around in the 80's, and you work/participate in the investment industry, this should be required historical reading.
  
  
• Greed ain't so good
  By A2EENLV6OQ3DYM on 2000-07-28
  James Stewart's expose on the Wall Streets scandals of the go-go 80's reads like the Oliver Stone film come to life. The stories of such high flying white collar crooks as Ivan Boesky and Michael Milken and how they met their downfall is nothing short of fascinating. These were guys whose genius made them wealthy beyond most people's wildest imaginations, but for whom enough was never enough. Stewart is a first rate journalist and having worked for the Wall Street Journal, he came to be intimately familiar with the particular villians and the heroic agents and prosecutors who caught them. Anyone with an interest in criminology or a few bucks invested in a high risk stock ought to read this.
  
  
• Only 22 months?
  By on 2001-10-10
  Michael Milken served only 22 months of a 10-year sentence? Unbelievable! His time served surely doesn't send a message to those who consider the potential consequences of their criminal activities. The book was hard to put down - the author's research was in-depth and fascinating. The book can really get your blood boiling, such as when Milken introduces his "good friend, Jesse Jackson" - an obvious P.R. strategy intended to influence a potential jury of minorities. In fact, Milken's entire P.R. directed campaign makes you sick. Milken is indeed a talented financier, and there was no need for him to act criminally. How many millions, excuse me, BILLIONS, is enough? The author's work is a necessary read for those interested in business history and for those working in the financial services industry. Many feel that history will judge Milken in a favorable light - but I hope that our society never views tax evasion and fraud in a positive light. The book gave me a new appreciation for those serving the public, as the author tells us about the hard work of officials at the SEC and at the U.S. Attorney's Office in New York. Business can be conducted with trust and integrity, and when combined with good old-fashioned hard work, becomes a success story.
  
  
• A Saga of Crime, Punishment and the Quest for Power!
  By A21FWV7IMMPSXP on 2004-09-04
  This book is fantastic! Author James B. Stewart creates a regaling story for the reader with a compelling narrative of the 1980's Wall Street era of greed and glory.
  
  Stewart takes the reader into the lives of the big players on the Wall Street court at the time: Michael Milken, Ivan Boesky, and Martin Siegel among many others. In great detail, Stewart provides the full story of the insider trading scandal that nearly destroyed Wall Street. Stewart also shows how these "players" created a series of security scams that made legitimate trading pale in comparison.
  
  Equally as intriguing is the story of the SEC detectives that brought the rampant illegal trading to a screeching halt. Not a detail is spared: The lawyers on both sides. The trials. Judge Kimba Wood! This is as close to the real thing as it gets. A great story from a masterful bard! I rate this book at five stars. Destined to be a classic.
  
  
• Excellent Pre-Business School Reading
  By A2SKFYZJQC9WI2 on 2005-08-30
  If you are planning on going to B-School, this is a must read. It is a fast paced account of the insider trading scandal that hit Wall Street in the mid-1980s. The manner in which Stewart develops the characters (Siegel, Boesky, Milken, Levine, et al.) and events is gripping. Contrary to my initial perception, this is a fast paced book. If you are a student of finance, then this book has some great lessons in the working of the bond market, takeover tactics, takeover defenses, risk arbitrage, junk bonds, the role & powers of the SEC and the Attorney General, Swiss banking and much much more.
  
  
• Highly recommended - Easy for the Layman to Understand
  By A2W30R08QPWM4M on 2000-05-18
  James Stewart has a knack for storytelling. Even something that could be potentially dry as all get out he explains clearly and without a lot of hoopla. It is, what it is and that's the truth. Some people think his work is biased but I was knee deep in all of this when it was happening. I saw the after affects of all the mergers and buyouts. I worked in a large financial institution that provided some of the funding for these deals and I was able to see the deals up close and personal. Stewart doesn't exaggerate a thing so all you guys out there crying he's biased you need a reality check. What he documents is how corporate America lost its soul. How the average worker was further displaced, how corporate america quietly lost (and couldn't figure it out later) the loyalty of its work force. The affects of downsizing (reduction in force) are exacting a terrible price today. Ever wonder where customer service went. It went out the window when workers realized that 30 years with a company meant nothing and that a CEO could get paid 5 million for just being there and he didn't have to be competent.

  Read it and think about it especially now that some time has passed since it was first written and tell me you don't get a chill down your spine.
  
  

• Awful and biased
  By on 1999-07-16
  "Den of Thieves" is an angry get-back at Michael Milken a man who redesigned business financing and got rid of a system on Wall Sreet that was ineffective and poorly thought out. We should never accept a book written by the lover of an anti-Milken Wall Street Journal reporter as objective--it can't be. This book is a disgrace.
  
  
• Read an Objective Account Instead
  By on 2000-08-05
  James Stewart should have known better than to rely entirely upon hearsay, and then feed the rumors to assist the unsavory, and many times unconstitutional, practices of New York prosecutor Rudolph Giuliani. It reads like a gripping tale of fiction, since most of the facts are invented, especially of Michael Milken. Stewart's naive understanding of high-yield debt financing and the very concept of leverage renders this book a mere gripe session for the author. His mathematics are innacurate and the emotionalism is copious.

  Although currently out of print, I suggest Daniel Fischel's "Payback: The Conspiracy to Destroy Michael Milken and his Financial Revolution."
  
  

• Authoratative source on why junk bond are bad
  By AD1AAXO24P7RP on 2000-08-25
  This book was recommended to me as an introduction to how corporate financing works (or has worked in the past). I found this book to be fascinating. Yes, it's long, and in some parts dry, but the author presents us with behind-the-scenes discussions of all the major players in the junk bond scandal of the 80's, leading to the S&L problems. Milken and Boesky are featured. The book goes into great detail about SEC enforcement, and how the dealers were finally brought to justice. I thought this was a great companion book to 'Barbarians At The Gate' (about the RJR Nabisco LBO calamity). Great book - highly recommended.
  
  
• A Superbly good read
  By A2QOH7P7PACEQ4 on 2001-02-12
  James Stewart resounts the intricately tangled web of insider trading on Wall Street in the 1980s with vivid detail. Infamous personalities include M. Milken, M. Siegel, I. Bowsky, and D. Levine. Each character of the vast cast is introduced and interweaved with the rest of the plot seamlessly, making the pages turn by themselves once started.

  The game begins with a young investment banker at CSFB. Levine's inexorable desire to achieve extraordinary wealth soon drove him beyond the legal limits of ibanking, rounding up insiders at various other banks, law firm, and even one graduating HBS student. Through the ring of informants, the insiders exploited their access to proprietory information to great length, engaging in numerous insider trading transactions, which eventually yielded in the millions across a span of just a few years. Yet, compared to the big boys, Levine's ring can only be considered toying. Legendary financier Boskey, junk bond king Milken and others take insider trading to a whole new level, arranging numerous "parking" transactions, inflated invoiced, tax evation schemes, feeding each others accounts while manipulating the stock prices of various publicly traded companies.

  The story takes the readers through a who is who on Wall Street and even travels off south to Bermuda and Cayman Islands for a couple of times. Through an occasional suspicious transaction at two of Merill's brokers, New York DA Giuliani and his team were able to slowly sort through a vast web of insider trading activity, and implicate more and more Wall Street types as the investigation went on. After all the twists and turns, the bankers are sent to jail one by one, and finally, Milken was indicted, putting an end to the jonk bond king and the corporate raid bonanza.

  Put aside a couple of afternoons and treat yourself to this piece of great storytelling.
  
  

• Reality Check for every decade.
  By A3SF90789T8QB on 2003-05-12
  I would like to begin by saying that it is amazing what kind of copious and exhaustive research has gone into the writing of this book. James Stewart weaves a story of greed, lies, betrayals, and human frailty. The books accounts for the most significant events on Wall Street thoughout the 19080s, detailing various schemes of insider trading and more devious manipulations of the market that can be hardly understood by people not in the invenstment field. Even today the ramifications of the acts of then household names such as Boesky, Siegel, and Milken cannot be fully realized. It is a book that would make people weep who lost everything in the wake of of "high yield" bond depreciation, and to caution others to take most things told to them by investment bankers, arbs, and other financial figures with a grain of salt. Many who read this book feel that Milken was unfairly treated and got the short end of the stick at sentencing time. However, I would argue that no one in the schemes outlined got anywhere near the punishment that they deserved. All of the criminals in this book, and criminals they were of greatest magnitude who stole from investors, their employees, and the American people untold sums, came out wealthy and little shaken by the experience. It is interesting to note that the book treats everyone kindly on some level other than Dennis Levine who is nothing but villiefied throughout the book as stupid, ineffectual, overweight and crass. I would highly recommend this book to anyone, but especially those who are thinking about going into the field of investment, businessmen, and people who want to know more about Wall Street in the 1980's, ...
  
  
• Best book on wallstreet
  By A38Q82NNL3OMB2 on 2005-04-16
  Okay so I do not read a lot of books other than business books. The is the best book I have read period. The picture scenes of the character are still vivid in my mind. The trail of the conspiracy was excellent.
  
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• One of the best business books ever
  By AQ3540NJNST0C on 2006-12-17
  The story of Michael Milken is one that should inspire awe throughout the ages. His deeds pail in comparison to any corporate scandal today. This book is a masterful retelling of how Milken and his partners defrauded billions of dollars around the world. It tracks how these rings started and how the FBI, SEC, Interpol and others worked to close them. The arrogance of these men was amazing and their ability to defraud is unmatched. This story is one that has to be read and retold. Highly recommend.
  
  
• Definitive
  By A2SO8H8M86CMDW on 2007-02-07
  I totally got the whole feel of the era, the industry and the crime that happened. My only complaint is its too long. Could have dropped a good 100 pages.
  
  
• KEEP YOUR EYES OPEN AND YOUR POCKED CLOSED
  By on 1999-03-31
  If you like mysteries, cover-ups, intricate plots, good and bad guys and soap opera, this book is for you. What makes it so frightening is that it is real. The question I kept asking myself is how do we know that this won't happen again, or isn't going on right now. And yet, we know that in the investment and banking worlds given the situations in Asia and Latin America, there are more shoes to drop. I believe that this industry has been infiltrated by more bad habits - power, greed and hunger - than most. The culture has encouraged it. A new book I read describes these problems well and then offers a way out. THE 2,000 PERCENT SOLUTION talks about 'stalls' that keep us from changing. In investment banking, The Communications Stall means that some people get messages before others, creating an unfair advantage. The Disbelief Stall makes them think that they aren't doing anything wrong and won't get caught. The Tradition Stall says that business has always been done that way, so it's okay. The Bureaucratic Stall would make them think that if there is enough red tape, no one will figure out what is going on. The Misconception Stall says that they were operating under poor assumptions, because they did get caught. The Unattractiveness Stall means that if something looks unpleasant, just cover it up. What is needed is a new way to do business and a new system of checks and balances, a 2,000 percent solution.
  
  

• Liar's Poker: Rising Through the Wreckage on Wall Street
• The Predators' Ball: The Inside Story of Drexel Burnham and the Rise of the Junk Bond Raiders
• When Genius Failed: The Rise and Fall of Long-Term Capital Management
• Barbarians at the Gate: The Fall of RJR Nabisco
• Monkey Business: Swinging Through the Wall Street Jungle