Mike Milken’s Minions

Adelson and Milken

As I wrote a couple of months ago, I suspect that the shadow figure of Mike Milken, the convicted felon banker of the late 80’s is working hard with his minions to get his former client Mitt Romney elected. Yesterday, the Boston Globe surfaced the story in the MSM.

Romney, meanwhile, once referred to the deal as emanating from “the glorious days of Drexel Burnham,” saying, “it was fun while it lasted,” in a little-noticed interview with American Banker magazine.

The “glorious” part, for Romney at least, was that he used junk-bond financing to turn a $10 million investment into a $175 million profit for himself, his partners, and his investors. It marked a turning point for Romney, according to Marc Wolpow, a former Drexel employee who was involved in the deal and later was hired by Romney to work at Bain Capital.

“Mitt, I think, spent his life balanced between fear and greed,” Wolpow said. “He knew that he had to make a lot of money to launch his political career. It’s very hard to make a lot of money without taking some kind of reputational risk along the way. It’s just hard to do. It doesn’t mean you have to do anything illegal or immoral, but you often have to take reputational risk to make money.”

But there is a far darker tale to be told of the influence of the former Junk Bond King on our current Presidential race. If I was to tell you that the current Republican Presidential nominee and the four largest contributors to Republican Super Pacs are all intimately tied to one convicted felon banker, would you not think it some sort of Oliver Stone conspiracy movie?

But it is true. Mike Milken is responsible for the billion dollar fortunes of Sheldon Adelson, Harold Simmons and Ken Griffin, the top three Super Pac donors. In addition both Rupert Murdoch and David Koch were clients of Milken and Koch serves as Chairmen of the Board of Milken’s Prostate Cancer charity.

I have no idea what Milken’s mission is other than his belief that banking and environmental regulations are “harmful to capital formation” and his steadfast support of Likud party politics in Israel. I know he has tried with both Clinton and Bush to get a pardon without success.

Is the fact that Milken was responsible for the fortunes of both the candidate and his main corporate sponsors mere coincidence or something more sinister?


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6 Responses to Mike Milken’s Minions

  1. J. Todd Harris says:

    This makes me wish I had the GOP ad account for this election.
    Can you imagine how much they’ll spend (hopefully in vain).


  2. Alex Bowles says:

    Given a President with friends like this, would the country still need enemies?

  3. JTMcPhee says:

    @Alex Bowles
    As was said by ol’ Voltaire of GodAlmighty, it is apparently the case that if The Enemy did not exist, “we” would have to invent him/her/it. Otherwise how are “we” ever gonna know, or at least pretend to resemble, who and what “we” are, and are not?

  4. len says:

    J. Todd Harris :This makes me wish I had the GOP ad account for this election.Can you imagine how much they’ll spend (hopefully in vain).

    As they pay for ad after ad on my FB page, I smile and wonder if the FB algorithms are too dumb to notice or smart enough to care.

    I did an experiment over the weekend testing how the algorithms reacted to comments. They try to divine which party I support. It really is possible to torment the FB servers. Try it. Watch as each comment is logged and analyzed and they try to pick the next ad to display. The combinations are hilarious and relentless.

  5. Jon Taplin says:

    @len Wonderfully funny. I’m trying it.

  6. len says:

    So much for AI and the triumph of the machines. We can keep them neurotic and then they’ll try to run for office too.

    I swear if the SCOTUS rolls back health care and takes my kid’s insurance away, I will find the address of every member of the court, then sign them up on every junk mail address in the world. If we can’t fire them, we can at least drown them in the same kind of rotten paper they are issuing these days. Did you read the comment from the Governor of Montana? Something to the effect that we have always preferred democracy over corruption and now the SCOTUS has decided to reverse that.

    No More Republicans in the White House until they figure out we count too. It really is the same as in the music industry thread: unless both ends of the spectrum realize they are interdependent and give up the virtue of selfisness bullshit, we’ll keep going down the rathole. Sorry for ranting. I grew up in a better country than this.

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