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Anatomy of the Fall

Anatomy of the Fall The fall of Michael Milken, Drexel Burnham and Lambert, and the junk bond market has a familiar ring. In his book Money, John Kenneth Galbraith introduces us to banking with the following sobering thoughts As banking developed from the seventeenth century on, so, with the support of circumstance, did the cycles of euphoria and panic. Their length came to accord roughly with the time it took people to forget the last disasterfor the financial geniuses of one generation to die in disrepute and be replaced by new craftsmen who the gullible and the gulled could believe had, this time but truly, the Midas touch. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Business Strategy Emerald Publishing

Anatomy of the Fall

Davidson, Kenneth M.
Journal of Business Strategy , Volume 11 (5): 3 – May 1, 1990
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Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
0275-6668
DOI
10.1108/eb060087
Publisher site
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Abstract

The fall of Michael Milken, Drexel Burnham and Lambert, and the junk bond market has a familiar ring. In his book Money, John Kenneth Galbraith introduces us to banking with the following sobering thoughts As banking developed from the seventeenth century on, so, with the support of circumstance, did the cycles of euphoria and panic. Their length came to accord roughly with the time it took people to forget the last disasterfor the financial geniuses of one generation to die in disrepute and be replaced by new craftsmen who the gullible and the gulled could believe had, this time but truly, the Midas touch.

Journal

Journal of Business Strategy – Emerald Publishing

Published: May 1, 1990

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