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Drexel Burnham Lambert Inc. was an American multinational investment bank that was forced into bankruptcy in 1990 due to its involvement in illegal activities in the junk bond market, driven by senior executive Michael Milken. At its height, it was a Bulge Bracket bank, as the fifth-largest investment bank in the United States.
Drexel Burnham Lambert collapsed in scandal 25 years ago, but alumni of the once-powerful investment bank are now in some of Wall Street’s most powerful posts. The firm famous for high-yield or...
The tale of Drexel Burnham Lambert's unlikely rise, gargantuan heights, and calamitous fall is the story of Wall Street. A quarter of a century after Michael Milken wept in court as he apologized...
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. Drexel’s bond department head...
The last days of Drexel Burnham. Three Drexel Burnham Lambert employees leaving 60 Broad Street HQs carrying boxes of belongings after company announced irrevocable bankruptcy. This article was ...
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,...
…Company to form what became Drexel Burnham Lambert Inc., a major investment banking company. In 1971 Milken became head of Drexel Burnham’s bond-trading department. He saw great potential in the neglected area of “junk bonds”—i.e., non-investment-grade bonds that were typically issued by smaller, newer companies or by established ...
Drexel Burnham Lambert ’s chief executive officer was sentenced Friday in federal court in Manhattan to two years in prison for defrauding investors out of $4.4 million. The firm Craig Zabala led, however, is not the same one where Michael Milken pioneered the junk bond.
Drexel Burnham Lambert Inc., the once-dominant investment house that fueled many of the biggest corporate takeovers of the 1980's, began selling off its securities yesterday, and its parent...
Drexel Burnham Lambert ’s chief executive officer was sentenced Friday in federal court in Manhattan to two years in prison for defrauding investors out of $4.4 million. The firm Craig Zabala ...