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My Book Reviews

Category: Wall Street story
Published: 1991
Read: 1994
Reviewed: May 2010

James Stewart, a Pulitzer Prize-winning writer for the Wall Street Journal, tells the story of the insider trading scandals on Wall Street during the 1980s and the players who were involved (Michael Milken, Ivan Boesky, Martin Siegel, and Dennis Levine). The book is a well-written and very detailed story that reads like a crime fiction book. It's funny looking back at these stories now because these were some of the biggest Wall Street scandals at the time but seem to pale compared to the losses from the scandals that came later, including: dot-com (Blodget, Meeker, etc) , Enron/Worldcom, Madoff, and the mortgage meltdown. The book is unapologetic about it's attitude about Milken being a villain. Some readers may object to this, since Milken was also responsible for the creation of some legitimate financial product innovations that have become a permanent part of the financial landscape (not to mention his philanthropic work). But this book is strictly about the insider trading scandals, and is not a broader biography of Milken.

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