Late in the summer of 1985, after a twenty-four-year Morgan career,...
Citations (1)
- The House of Morgan - An American Banking Dynasty and the whole source · open book
Late in the summer of 1985, after a twenty-four-year Morgan career, he left for Drexel Burnham Lambert, to work with Michael Milken on a special project to repackage Third World debt into junk bonds (the 1920s solution). Some at Morgans thought his career had been derailed by the controversial Brazilian debt rescheduling. Shortly after he left, the bank was alerted to his crime by a puzzled Brazilian client whose money supposedly on deposit in New York was wired from Venezuela.
chapter: 32. Samba