One of three must read books on the Michael Milken, Drexel Burnham Lambert 1970's & 80's era on Wall Street. Wonderful storytelling and accounting of the many deals financed with junk bonds by Milken & gang. The other two books, well written as well on Milken, are "Den of Thieves" by Pulitzer Prize winning WSJ writer James B. Stewart, written after Bruck's Ball, and "A License to Steal: The Untold Story of Micheal Milken and the Conspiracy to Bilk the Nation" by Benjamin J. Stein, written last of the three. Stay away from the fantasy work of Jesse Kornbluth's "Highly Confident -- The Crime and Punishment of Michael Milken". It's an authorized version of Milken's life, bought & paid for by Milken himself, who underwrote hatchet jobs on Bruck & Stein to discredit their stellar work.
The Predators' Ball does a great job of getting inside the various deals Milken pulled off and how they happened, along with a good history of Michael Milken. Amazing stuff, considering the multi-billion dollar nature of those deals... financed with nothing but junk. The sad thing is, is that if Milken had been caught in this current era of NO public tolerance for Wall Street misdeeds in 2002, he would be serving a hell of a lot more time then the mere 24 months he actually ended up doing on his ten year sentence. 98 counts, he cut a deal to plead guilty to six of them. He walked out of jail after a brief time of reflection, with his Billion$ still stached away in his foriegn bank accounts at his disposal. Crime did pay and pay well for Michael Milken. Stein's License to Steal book estimated that Milken generated some $24 Billion in commissions & fees, from obscene margins & unearthly volume. King of the Universe indeed... and walked away with a mere $1 Billion slap on the wrist fine and a few nights in jail. These three books are better than fiction or novels. History, in Wall Street storybook fashion. The more things change, the more things stay the same.