FINK-403 Case Studies in Finance The Rise and Fall of Michael Milken 4/9/2014 The Rise and Fall of Michael Milken Michael Milken is known for many things. He is known to many as the “junk-bond king”, the “leveraged-buyout king” an innovator who changed the face of financial securities, to others he is seen as a crook who allowed his greed to beat out his integrity in order to make himself and those around him wealthier. The truth, as in most cases, is more than likely to fall somewhere in the middle. Michael Milken’s story is one with many highs and very few lows, while those lows would be considered catastrophic for some, Michael Milken conducted himself with a grace that very few people possess. He weathered the storms he was confronted with throughout his life and continued to remain on top.
This lower income prompts the owner into paying returns to investors from other investors' money rather than the profit. Bernard Madoff is former chairman of NASDAQ and known Wall Street trader owning securities firm by his name, Bernard L. Madoff Investment Securities LLC (BLMIS). (Research, 2010). It is through the investment management and advisory department of this firm through which he undertook one of the major financial scams and operated so since 1990 until his indictment. A successful investor and former stock broker, Madoff founded BLMIS in 1960 and continued to be the chairman of the firm until his arrest in the December of 2008.
Both are generally nonviolent and aimed toward personal gain rather than harming another person. The second example from this website entails a company called Alta Gas ran by a man called Peter Bradley. The company claims it was making enormous growth and was highly profitable, however in fact this was an entirely different story. The SFO invested the company in late 2001 to find that the company had ‘made up’ dozens of fake customers to give the impression of a full order book. Bradley, who enjoyed a luxurious lifestyle, along with several other directors persuaded 3 financial institutions to invest an accumalated total of £38.5 million to conceal the company’s actual loss.
This makes us think automatically that he is a powerful, high class character and we then get intrigued to find out who he is and what he does. As we first see him through a camera, this could be to suggest that this side of him that they are interviewing is fake, and he is putting on a front. And later we find out this is true, and we being to see the real Robert Miller later on in the film when we see the corruption within his business and family that he has caused. This also relates to Bernie Madoff, a very wealthy business man on Wall Street in the 1990’s whom Robert Miller is based on. Madoff put on a fake front when facing his customers, colleagues and family and made them think he was investing their
He has been with PIMCO since he has been the co-founded and the firm in 1971 and oversees the management of more than $1.9 trillion of securities. Gross also discovers and manages one of the world's largest mutual funds, focusing mostly on bonds, as well as several smaller-sized funds. Not surprisingly, the New York Times called the Gross the most prominent of American investors in bonds. Also as an author Mr. Gross is the author of numerous articles on the bond market, as well as the book “Everything You’ve Heard About Investing is Wrong” was published in 1997.
Well when he returned from world war one as a veteran; Daisy had left him for Tom Buchanan. Gatsby was so keen on getting Daisy back; he devoted his life into becoming a very rich man in an attempt to steal Daisy from Tom. After a couple small jobs from working on a boat to a school janitor, he started selling illegal alcohol otherwise known as bootlegging. This job made Jay Gatsby a very rich man, really fast. He was no longer in the poor social class but in the Nouveau Riche social class.
This, a system founded upon the principal of rehabilitation, yet in reality, is more interested in imprisoning non-violent criminals indefinitely than providing them the help so desperately needed. It sickens me that the United States allows for such a horrible thing. Private prisons in the United States make millions of dollars off of their own prisoners. It is simple, the more prisoners the prisons have the more money they make. Private prisons enjoy a guaranteed profit with every inmate they house.
Charles Ponzi, who cheated the gullible out of millions by 1920, invented what came to be known as a Ponzi scheme, a scam in which early investors are paid with money from new investors. “The most notorious "Ponzi Scheme" took place when he began to trade postal reply coupons in 1919. Plenty of Americans in other countries could include such a coupon in a letter, to be redeemed at the post office for enough money to send a reply. Ponzi used his Securities Exchange Company as a front to trade the coupons and make a 200-percent profit” (Charles Ponzi). Bernie Madoff’s name is recognized and vilified around the world.
Production lines enabled economies and production to expand exponentially. Investors were doing anything to invest in the stock market. The rigging of stocks became so common that many people thought there was nothing wrong with the manipulation of stocks in way that would defraud the public. Eventually the stock market collapse was knocking on the United States door step but nobody expected that a full-fledged depression was to come about
Occupy Movement In this essay about the occupy movement I will be addressing my opinion about why protestors are making such a big deal about corporations receiving multi millionaire bonuses and if I think what they are doing is right or wrong. The protestors started off as just a handful of people in New York city. It wasn't long before it became more than a handful of people because it isn't just a few people that are being affected by unemployment, it is thousands of people. The unemployment rate right now is at its highest level since the Great Depression. The great depression was a brutal worldwide economic depression in the decade preceding World War II.