The book begins with a detailed history of Drexel Burnham Lambert, which was one of the most important investment banks in America during the 1980s.
“Barbarians at the Gate” is a book that tells the story of how two titans of Wall Street, Michael Milken and Ivan Boesky, took over the world’s most powerful company. In Barbarians at the Gate: The Fall Of RJR Nabisco, Bryan Burrough examines one such story from this era- how Wall Street made an audacious bid for corporate control over America’s most iconic company in its least comprehensible deal ever during which billions were gambled on paper deals negotiated by people like junkies in a casino.
These scandals show that when it comes to finance, a lack of rules and regulation can lead to catastrophic consequences for society as well as individual investors. From the 1980s to the present, Wall Street’s largest firms have been hit with wave after wave of scandal.
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