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Feb 13, 2015 · Drexel Burnham Lambert, the investment bank famous for high-yield or "junk" bonds, filed for bankruptcy on Feb. 13, 1990 after several years of legal troubles.
Mar 12, 1990 · The commercial paper was an obligation of the holding company, Drexel Burnham Lambert Group, whose assets consisted of an illiquid junk bond portfolio. The firm's liquid capital was housed in its ...
Feb 14, 1990 · 1976: The Drexel Burnham Group Inc., a brokerage firm, agrees to merge with Lambert Brussels Witter, a subsidiary of Groupe Bruxelles Lambert, Belgium's second-largest holding company, creating ...
Feb 19, 2020 · Michael Milken in 1989: the former head of Drexel Burnham Lambert's high-yield junk bond department was sentenced the following year to 10 years in prison after pleading guilty to securities fraud ...
May 1, 2007 · In the 1980s, Drexel Burnham Lambert dominated the underwriting of junk bonds with close to a 50% market share. In 1990, Drexel went bankrupt and was liquidated, and the percentage underwriting fees for junk bonds subsequently dropped dramatically.
Feb 17, 1990 · IN THE end Drexel Burnham Lambert proved as much a creation of Mr Michael Milken as were so many of the former junk-bond king's nouveau riche clients. The once high-flying Drexel is now bust, just ...
Feb 13, 2015 · Michael R. Milken at Drexel Burnham Lambert in 1978. Credit Neal Boenzi/The New York Times Edwin Kantor, the onetime head of trading at Drexel Burnham Lambert, told The New York Times in 1995 , “People used to be afraid to put Drexel on their résumé.”
