Re: Re: Free Mike!

Michael Perelman wrote: >Stewart is a better place to look for what Milken did. >Stewart, James B. 1991. Den of Thieves (NY: Simon and Schuster). >183: "Because of extraordinary control over the junk bond market, Milken >could buy back securities at artificially low prices from Drexel clients >wh

Position

Please forward the note below to anyone who might be interested, as the search is continuing. More information about LSIR can be found at http://lsir.la.psu.edu/ PENN STATE LSIR Faculty Search The Department of Labor Studies and Industrial Relations seeks to hire one or two new faculty member

Re: Free Mike!

I don't think that Milken was much worse than most of them. He just saw an opportunity and he took it. The crime here was that he sold the junk bonds to people, misleading them that there was a market. Instead, he set the price himself. Stewart explains how he could pull it off. Doug Henwood

Free Mike!

>>> [EMAIL PROTECTED] 01/24/01 10:08AM >>> Michael Perelman wrote: >Stewart is a better place to look for what Milken did. >Stewart, James B. 1991. Den of Thieves (NY: Simon and Schuster). >183: "Because of extraordinary control over the junk bond market, Milken >could buy back securities at ar

Intel to slash chip prices by over 40 percent - ZDNet Discussion Zaplet

Title: ZDNet Discussion: Intel to slash chip prices by over 40 percent Intel to slash chip prices by over 40 percent By John G. Spooner, ZDNNJanuary 24, 2001 4:34 AM PT Intel will kick off aggressive chip pricing this weekend amid high PC inventories and slow sales. The chipmaker, sources

Please excuse cross-posting: Provisional List of IWGVT sessions at the EEA

Dear Colleague Attached is the provisional list of sessions at the forthcoming mini-conference of the IWGVT at the Eastern Economic Association, Crowne Plaza Hotel, Manhattan, February 23-25th 2001. Papers, and an up-to-date copy of this session list, will shortly be posted on the website www.gr

6,000 jobs to be cut

Whirlpool to cut up to 6,000 jobs over next year Wednesday, January 24, 2001 ASSOCIATED PRESS BENTON HARBOR, Mich. -- Appliance maker Whirlpool Corp. met Wall Street's lowered fourth-quarter earnings expectations and affirmed that its global restructuring plan will mean up to 6,000 j

Heating costs may double

Heating cost may double 2 utilities plan major rate hikes for natural gas effective April 1 January 24, 2001 BY ALEJANDRO BODIPO-MEMBA FREE PRESS BUSINESS WRITER Michigan's two largest natural-gas providers plan rate increases of up to 100 percent. Consumers Energy Co. intends to double

WTO admits it is anti-democratic

on proposed laws though it can neither change the proposals nor propose laws on its own. http://www.arab.net/qatar/govt/qatar_govt.html ] <http://dailynews.yahoo.com/h/ec/20010124/wl/wto_accepts_qatar_s_offer_to_host_m inisterial_meeting_1.html> Wednesday January 24 07:41 AM EST WTO a

1 million dropped

US health plans drop coverage for nearly one million elderly and disabled members http://www.wsws.org/articles/2001/jan2001/hmo-j23.shtml

Re: Free Mike!

Charles Brown wrote: >Isn't this sort of a matter of a barrier to entry into the >capitalist class ? The ruling class is a closed club. Milken's crime >was joining the ruling class without permission, introduction, going >through some rite of passage. He tried to join. He wasn't welcome. The

Milosevic Is History; So What's Next for Yugoslavia?

* In These Times November 13, 2000 SECTION: News Pg. 4 HEADLINE: Milosevic Is History; So what's next for Yugoslavia? BYLINE: By Jeremy Scahill; Jeremy Scahill is the Belgrade correspondent for Pacifica Radio's Democracy Now! He reported from Yugoslavia throughout the NATO bombing and wa

Re: Milosevic Is History; So What's Next for Yugoslavia?

Yoshie, (Yes, I'm back again.) So why can't "Polish shock therapy, Scandinavian social welfare programs, and Slovenian gradual privatization" go together? Not at all obvious. Barkley Rosser Professor of Economics MSC 0204 James Madison University Harrisonburg, VA 22807 USA website: http

RE: Re: Free Mike!

When it comes to Milken, James Stewart's account should not be trusted. See, for instance: http://www.polyconomics.com/searchbase/10-09-91.html, and http://polyconomics.com/showarticle.asp?articleid=1239. Stewart bought Ivan Boesky's version of events, but Boesky actually was a crook and a liar.

Re: Free Mike!

Both David and Doug say that his clients did not complain. What about those whose pension funds were used in his schemes? I don't think that Milken was worse than Kravis, Boesky or the others. I would have cheered to have seen them all punished. -- Michael Perelman Economics Department Califor

RE: Re: Free Mike!

Michael -- Without arguing about what Milken actually did as opposed to what he was accused of doing, give me a hypothetical example of how a pension fund, for example, would have been harmed. David Shemano -Original Message- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED]]On Behalf

Re: RE: Re: Free Mike!

The most famous case was Charles Hurwitz. Pension funds were removed to use in speculation, replaced by one provided by an insurance company that flopped. On Wed, Jan 24, 2001 at 05:38:28PM -0800, David Shemano wrote: > Michael -- > > Without arguing about what Milken actually did as opposed to

the holy trinity

Barkley "Slobodan" Rosser writes: >So why can't "Polish shock therapy, Scandinavian social welfare programs, and Slovenian gradual privatization" go together? Not at all obvious.< The question is difficult to answer in the abstract, but easy for the specific case of Serbia: here's a country th

RE: Re: RE: Re: Free Mike!

Michael -- If I understand you, you are simply saying that junk bonds are risky. If that is your accusation against Milken -- he convinced pension funds and other investors to purchase bonds that were risky, that isn't an accusation about the conduct of Milken -- it is an accusation against capi

Re: Free Mike!

Milken offered a package to these raiders. Part of the strategy was to use pension money to finance the LBOs [not Doug Henwood's]. He did not just trade bonds, but if you are proposing to jail the bond traders also, I will go along with you. On Wed, Jan 24, 2001 at 05:54:34PM -0800, David Shema

Re: the holy trinity

>Barkley "Slobodan" Rosser writes: >So why can't "Polish shock >therapy, Scandinavian social welfare programs, and Slovenian gradual >privatization" go together? Not at all obvious.< > >The question is difficult to answer in the abstract, but easy for >the specific case of Serbia: here's a cou

RE: Re: Free Mike!

Michael Perelman wrote: <> - Let's all understand what Milken did legally. Milken went to investors -- people with capital. These include insurance companies, pension funds, savings and loans, money managers, etc. He said to give an example, that some guy named Ron Perel

Re: RE: Re: Free Mike!

When a discussion seems to involve only 2 people on the list, I usually suggest to shut it down. So, I will respond to David and let him have then last word. My father met both Ron Perelman and S. J. Perelman, but neither seen to be related to us in any way that we could discover. David's examp

RE: Re: RE: Re: Free Mike!

Michael -- All I am asking for is an example of how Milken did anything "fraudulent." I am sure that there were unsavory people who invested with Milken, but that should not be imputed to Milken. It was certainly not grounds to imprison him. On to the next topic. David Shemano -Original

Re: Re: Free Mike!

Michael Perelman wrote: >Both David and Doug say that his clients did not complain. What about >those whose pension funds were used in his schemes? I think you'd have to prove that Milken paper delivered subpar returns. If I'm remembering right, it was his imitators who did the worst deals, t

Re: Free Mike!

Michael Pollak wrote: >So that in >the end, if we roughly estimate the cost to the taxpayers of the S&L >bailout at $150 billion, and the population of the US at 300 million, he >basically stole $500 from every man woman and child in the US. Wasn't the problem the Garn-St. Germain Depository Ins

Re: Re: RE: Re: Free Mike!

What was "fraudulent" about the deals? Cheers, Ken Hanly - Original Message - From: Michael Perelman <[EMAIL PROTECTED]> To: <[EMAIL PROTECTED]> Sent: Wednesday, January 24, 2001 9:21 PM Subject: [PEN-L:7233] Re: RE: Re: Free Mike! > When a discussion seems to involve only 2 people on

Re: RE: Re: Free Mike!

David Shemano wrote: >The ones who complained, as has been stated, were the old crowd. When it >comes down to it, Milken was a new-money Jew lending money to other >new-money Jews to takeover corporations run by old-line management. This is an unspoken subtext of the whole affair. Rohatyn playe

The Globe and Mail on NMD system.

It is a bit surprising that Canada's national business newspaper should publish this. Is there much discussion of the NMD system in the US by the left? The system seems bound to unravel all the treaties that have mitigated the build up of arsenals in Russia and will cerainly cause China to increas

Yugoslavia in Transition (European Bank for Reconstruction andDevelopment)

* Copyright 2000 Janet Matthews Information Services Quest Economics Database EBRD Transition Report November 14, 2000 SECTION: Comment & Analysis; Statistics; Forecast; Pg. 8 HEADLINE: Yugoslavia in transition ...This annex provides a brief overview of the current state of the Yugoslav ec

Re: Re: Re: RE: Re: Free Mike!

Ken Hanly wrote: >What was "fraudulent" about the deals? Every junk bond prospectus was freighted with warnings about how risky the securities were (and still are). Whoever bought the things knew that, and either thought the risk was worth it or didn't think about risk at all. Doug

RE: The Globe and Mail on NMD system.

Some Seattleites are thinking about some way of shaming Boeing and the Machinists on this as they just got a 6billion $$ contract to build stuff that will lead eventuallyto the Death Star. In fact some artists are toying with a Death Star with Boeing's logo tacked on it. It's a f*g disgrac

RE: RE: The Globe and Mail on NMD system.

Read on, some folks are fighting back LAW OFFICES OF DAVID W. AFFELD A Professional Corporation David W. Affeld (CA State Bar No. 123922) Christopher D. Higashi (CA State Bar No. 168667) 333 South Grand Avenue, 37th Floo

Stweart on Milken

46: By 1977, Milken's operation controlled 25% of the market for high yield securities. It was the only firm maintaining a market in them. His clients trusted his research in them. They accepted his price quotations as legitimate.186: The trades typically involved thinly traded securities wh

Re: Free Mike!

Michael P. wrote: >As a person, he [Milken] was probably no more evil than many people around >Wall Street. I assume that was an important part of Doug's original >point. But he did also help fraudulent deals in which pension money was >scooped up to be used in LBO's. I don't know much about