Buy a DNA kit here: bit.ly/WSM_MH. Use the coupon code WSM for free shipping. As an added bonus, you can start a 30-day free trial of MyHeritage's best subscription for family history - and enjoy a 50% discount if you decide to continue it.

@OffGridInvestor

Жыл бұрын

You ALSO find out if some relative was lying about their past. 20 years of thinking I was Spanish to then hear actually it was Basque. And it's nothing.... but 6% Scandinavian. Keep in mind of you have ANY Scottish or Irish, that Scandinavian is ACTUALLY VIKING from those countries GENERATIONS ago. Don't expect to find some Swedish great grandmother or something.

@thisisnightshop2037

11 ай бұрын

I can tell by how you present things that you are Asian

@user-wq2ve7kq9e

7 ай бұрын

Milken's DNA is JEWISH

@FixItStupid

7 ай бұрын

Never Give DNA Lies Of Corp Gov....

@evryhndlestakn

5 ай бұрын

Rating companies are crooks. Their ratings are a crock. How could the 2008 crisis occur other than the US government allowing it to happen with their free for all for friends of course but how else? Ummm, raging agencies giving fraudulent reports. And when called in front of congress what did they say? "These are only our opinions, we make no recommendations or otherwise & we shouldn't be held responsible for our reports". So what use are rating agencies like that? None whatsoever. Crooks.

Some people have a face only a mother could love. Milken's got a face only a Stockbroker could love.

@tdog65654

Жыл бұрын

Yes this guy needs to be rich.

@mimi21746

Жыл бұрын

😂😂

@MIMS207

Жыл бұрын

Wow…That’s deep.

@hurlycabalan8675

Жыл бұрын

Just color this guy's face green and he will look like the Grinch 😂

@ByzantineCapitalManagement

Жыл бұрын

Dude he looks like a legit evil person. 😂

Tip: do not give your genetical data to a shady company who will sell it on to insurance companies etc

@evanthesquirrel

9 ай бұрын

My sister bought us 23 and me for Christmas a decade and change a ago. I never would have bought one for myself but I figured what the hell. I regret that decision as I try to leave a smaller and smaller digital footprint these days.

@TheCarnivoreSoprano

8 ай бұрын

Exactly. And they use the material for many nefarious purposes. Not to mention they can't trace your ethnicity. It's simply entertainment. They compare your samples to living people not persons that are your ancestors.

@khylerin70

5 ай бұрын

Better still, never voluntarily give your DNA out period!!!

@niranjankumarjha4047

5 ай бұрын

Tip: genetical isn't a word, but genetic is

@GHOST25938

4 ай бұрын

​@@niranjankumarjha4047I wanted to say he might not be a native English speaker, then I read your name lmao 😂

The fact that Milken was allowed to keep a nickel after his crimes is absurd, disgusting and disheartening.

@FalsePips

Жыл бұрын

It’s because he’s rich. Rich ppl can do whatever they want

@arcaneisboring7675

Жыл бұрын

Hate the game not the player yo.

@Darkrezta

Жыл бұрын

@@arcaneisboring7675 bullshit. I will hate the game and the player too. if the game is corrupt doesn't mean the evil player somehow absolve to any evilness that they did.

@kenrose2523

Жыл бұрын

crony capitalism at its finest😔

@ashishpatel350

Жыл бұрын

because he is part of the tribe

The sad part is younger folks think that he’s some sort of Messiah. One should see where the money came from (Nobel, Rhodes) before they became a “pillar of the community”.

@mimi21746

Жыл бұрын

He is, what are you?

@jburron

Жыл бұрын

@@mimi21746 added quotes so it’s more obvious.

@rickeyheard4454

4 ай бұрын

Idk man, I don't think anyone looks kindly on this guy.

@jburron

4 ай бұрын

@@rickeyheard4454 you’d be surprised. Was just in LA and all anyone can talk about is how great he is. It’s just unreal. No one cares about history.

@ezbody

2 ай бұрын

At least a third of the American (Christian) population are programmed from birth to worship and admire scammers and conmen. Without their support this fleecing of public would be much more difficult.

Ah! "Drain the swamp" meant to pardon the financial swamp in prison and let it flow back into society

@user-ef9tb3ph6w

4 ай бұрын

He didn’t get him out of jail he wiped his record.

@snorman1911

3 ай бұрын

Israel first.

@Stoneface_

2 ай бұрын

​@@user-ef9tb3ph6wTrump literally pardoned a financial criminal. Trump was always part of the swamp

@Stoneface_

2 ай бұрын

Trump literally pardoned a financial criminal. Trump was always part of the swamp😂

@st0a

2 ай бұрын

Yep, Trump is a HUGE, TREMENDOUS hypocrite. As all politicians are...

When the fines are smaller than their earnings, its just means that the rich can pay their way out of justice.

Had never heard of this guy before. Thanks for raising awareness

@kingmike40

Жыл бұрын

You must be under 35. Milken was all over the news for months.

@nakternal

9 ай бұрын

read "Barbarians At The Gate" it's a great read and Milken is a big part of it. You wont be able to put it down.

@TheCrusher72

8 ай бұрын

Bit before your time if you are in your 20’s - 30’s.

@chaplainsunshine

5 ай бұрын

My grandmother lost a LOT of money in junk bonds

@billbarr3952

5 ай бұрын

@@nakternalalso den of thieves by James Stewart

No surprised to see that The Milken Institute is a high level member in the WEF.

@connorm4145

4 ай бұрын

Ain’t capitalism grand

@ClamMan1989

4 ай бұрын

But but but Trump is gonna save us from them.

@Stoneface_

2 ай бұрын

​@@ClamMan1989" Drain the Swamp " 😂😂

He may have earnt billions , but you would think that he could afford a decent toupee on the way up.

@Starborncathedral

5 ай бұрын

Or a hair transplant…something.

@jackschitt6235

4 ай бұрын

He never went back to wearing a wig after he got out of prison

@vambo13257

4 ай бұрын

it was a disguise for his later life

This was big news in the '80s and the inspiration for the movie Wall Street from Oliver Stone (Gordon Gecko was an amalgam of Boesky and other nefarious Wall Street types. The book Den of Thieves also describes this insider trading ring.). I still can't believe Milken has been so "rehabilitated" like this. He was the face of greed in the late '80s. But he made a lot of people rich, and that is being paid back I guess.

@Heyu7her3

Жыл бұрын

Anyone rich can be rehabilitated. Trump... Biden... etc

@OffGridInvestor

Жыл бұрын

He still looks like a goblin

@JamesSmith-px3on

Жыл бұрын

I didn't much care for these fellows in the 1980's and don't think time has done them any favors. If these guys are to be worshipped as amazing business men for bankrupting the companies they were employed by, then America is truly ran by idiots and douchebags with fancy degrees from prestigious schools. A criminal is a criminal whether it be a regular old check kiter or a fancy suit wearing mafioso pretending to be smarter than the rest of us.

@raymondmckendry2125

Жыл бұрын

The books pretty good.

@Jordan-Ramses

9 ай бұрын

Milken probably paid for those fluff pieces.

Connie Bruck’s “Predator’s Ball” is another great book on this.

@mitenpat

Жыл бұрын

Another book is "Den of Thieves" by James Stewart

A lot of these billionaires claim to be moral paragons yet are the slimiest people

@cane6074

Жыл бұрын

The reason why they do this because they're compensating for bad behavior, despite the fact that continue do bad things. They feel guilty for their actions but not enough to stop.

@blubaylon

Жыл бұрын

​@@cane6074I doubt they feel bad about their behaviour

@mimi21746

Жыл бұрын

I don't think anyone of then said so, it's what is in your head.

@mimi21746

Жыл бұрын

Morality in business and markets is not the same morals you are preached to at your church.

@TheCarnivoreSoprano

8 ай бұрын

Exactly

in the uk we have the insurance "miss-selling" scandal. in essence $40bn fraud. which the banks made as hard as possible to get money back from. people are willing to do whatever it takes in return for billions in profit. i have no idea why people are continually surprised by bad things happening.

Should be in jail for life. Instead scamming just makes you richer without repercussions because the government is corrupt too. This is disgusting and we must do something about this.

A few years ago I was the sound assistant at the Milken Global conference... I was responsible for putting microphones on all of the billionaires before they went on stage. Most were too busy talking to their friends to give me 30 second of their time s to put their mic on... one even complained about having to wear a mic... Michael Milken was the exact opposite, he was friendly and always took a minute from his conversation with the other billionaires to allow me to put his microphone on.

@brandodurham

Жыл бұрын

That’s a salesman fraudsters mo

@Midash2k

Жыл бұрын

@@brandodurham all i'm saying is that he was nice to me... he wasn't selling me anything. i was just putting a microphone on him.

@csanton3946

Жыл бұрын

I just starting binge watching his global conferences and I learned a lot about the investing world. I became a fan of his when I heard him speak, intelligent and soft spoken. I was wondering why I never heard of the guy, seems like he was not worshipped in mainstream media because of the cases he had, but to the investing professionals they had a lot of respect to him. I will always be rooting for Mike Milken, he is underrated how he helped companies financed by seeing te gap between bonds and equity through the junk bonds

@mimi21746

Жыл бұрын

@@Midash2k IKR, one of the most underrated billionaire. In America, from an outsider's view, there seems to be a huge divide between the doers and intellectuals. It's like many intellectuals are envious of the doers and entrepreneurs getting any societal acclaim, because actually the entrepreneurs don't think that much but they get more things done to advance society. Very few billionaires are actually worshipped in mainstream, I don't buy it that billionaires are even appreciated for their risk and grit in mainstream, very much so they have small circles and everyone is blaming them for everything wrong instead of learning from them or trying to partner with them.

@csanton3946

Жыл бұрын

@@mimi21746 exactly, no billionaire is not brutal in some sense. They are competing in the free market where everyone is a participant.

I guess you could say he was Milken them junk bonds

@rorbot_SMF

Жыл бұрын

Yup no shortage of udders to choose from.

@jaredfreeland9153

4 ай бұрын

Just like Bernie Made-off, the hint was in the name all along

He’s another member of the bad hair club. I wonder if there’s a correlation between suspiciously bad hair and suspicious business dealings.

@PradoTraceAZ

8 ай бұрын

What hair?

@ElliottNest39

5 ай бұрын

Give him a break. He’s a cancer survivor.

@shawnkennedy855

5 ай бұрын

@@ElliottNest39 He was wearing a piece before that.Who cares about his hair.

@jbern2185

4 ай бұрын

Well, Trump has bad hair and never really had any business dealings. It was all a sham and the money was from his dad who looks like he wore a hair piece as well.

@snorman1911

3 ай бұрын

There's definitely a link, but you get banned from youtube if you point it out. Hint, check their "early life" details.

This man is photogenically terrifying

Wow, never knew about this one. And the last portion is partly why. Aristocracy has become once again become beyond parasitical to downright dangerous.

Until the Lion has a historian tales of the Hunt will only glorify the hunter -Unknown

I think he looks similar to a cartoon villain with that smile and black eyes. And also a spider. My conclusion that evil people tend to look evil sooner or later does get confirmed over and over again

@TheLazyEconomist

Жыл бұрын

The physiognomy check is not a meme, I have learned.

Dude looks like the Egghead villain from Batman "Oh eggscelent"( in flamboyant voice)

Fantastic video. Such high-quality content.

Why cant we all just lie, steal and cheat our way to the top? We do we have to work 50-60 hours a week and barely survive 😢why

Great job . I was living in LA area when Millikan was committing his crimes. The LA Times expose of Millikan has confirmed everything you just said.

I guess you could say, Milken milked his victims

This channel is a gem, thanks!

Anybody with a smile like that, shouldn't be trusted.

I have a friend that knows Milken quite well. He helped them out immensely when others were slime balls. This was a height of his supposed evil period. Actually they had nothing against Milken after years of trying to prosecute, and he only agreed to their plea because they then came after his elderly parents and family and blackmailed him to accept plea. To say he's more evil than drug lords or pharmaceutical companies that started the opiod crisis is interesting.

@ryans5073

21 күн бұрын

A guy who knows how to take care of his friends is very valuable

yes milken did wrong and in his case shouldve been fined substantially more but the evolution of junk bonds is something that is very necessary for small companies to grow.

0:55 thats cause Milken didnt break the golden rule. You can fleece middle class folks indefinitely, just don’t steal from the rich.

14:03 Umm ackshually, preferred dividends are not an expense. They are deducted from net income on the income statement to arrive at net income to common shareholders. The dividend paid out is an equity item.

@SimonSozzi7258

Жыл бұрын

ktktktktktkkt 😂

@gilgamesh310

Жыл бұрын

I’d still say it’s some form of an expense. At least unless it’s paid in stock rather than cash.

@SimonSozzi7258

Жыл бұрын

Yeah it's still an expense.

Great video as always 🤩🙏

Key life lesson here... Never trust a man with an obvious toupee. Never!

The Joker Scam, Scam with jokes, scam while jokes.

Just like George Carlin said.." Its a big club and your not in it"

He makes Jordan Belfort seem like a saint by comparasion.

@walking_in_the_shade

Жыл бұрын

Comparison

@snex000

4 ай бұрын

Belfort's schemes had actual victims.

@Pipping-Hot

15 күн бұрын

Not Even Close - The wolf of wall street is Total Scum - Ripping Off Mom & Pop. Milken only dealt with Professionals who agreed to the deals - they only have themselves to blame it it didn't work out in their favor.

This got sketchy the moment he started getting involved in issuing bonds after he was already involved in trading them. Crazy conflict of interest.

While he really doesn't seem to be a good guy, he is FAR from being the most evil billionaire.

@Stoneface_

2 ай бұрын

Who's the number one?

@nujabeslistener

2 ай бұрын

@@Stoneface_ I'm not sure if these are billionaires, but the people on the board of directors at Nestlé easily take the cake as most evil rich people.

amazing video WSM!

22 months in a country club prison .... he must be part of some select grouping of people who are immune to real justice for massive financial crimes 🤔

Fantastic documentary. Keep up the great work.

He has the creepiest smile in the universe.

I have done a bit research into Milken and his prison sentence - I still do not understand how he only served 2 years jail. He was sentenced to 5 x 2 years sentences to be served consecutively. He only served 2 years though.

@id10t98

Жыл бұрын

When you open your wallet to politician's and judge's re-election campaign funds it's amazing how quickly prison sentences get reduced.

I didn't know John Malkovich was a junk bond king. "Pay dat man heez mohn-eee".

He'd only deserve a second chance if they stripped him off all his money and made to complete his entire prison term. But there's no justice in capitalism.

@oneeleven9832

Жыл бұрын

We don’t have Capitalism…

@havyn88

Жыл бұрын

@@oneeleven9832 just because you can't own slaves anymore, doesn't mean that you don't have capitalism.

@aightm8

Жыл бұрын

What does the economic system have to do with it. He was pardoned by trump

@havyn88

Жыл бұрын

@@aightm8 you've just answered your own question.

@aightm8

Жыл бұрын

@@havyn88 I didn't. That's political, it has nothing to do with the means of production. You tankies really are low IQ

Oooh Drexel, that's old Philadelphia money.

Couple years down the road: Our next guest is the heroic Dick Fuld

WSM, one of your best. I lived through the Drexel period at the start of my career (in tech, not fin). I also was a doctoral student at the Stanford GSB so had a ringside seat for much of this. The damage this man did by putting capital in the hands of raiders is still with us today. KKR, Blackstone, and other giant LBO/PE/ hedge funds got their start with DBL $$$. Read Connie Bruck's "The Predator's Ball" for a sympathetic (!) portrayal of these men.

@mastpg

11 ай бұрын

...or "Den of Thieves" for an unsympathetic one, but you're wrong on the whole. The raiders did a great service to the economy by cutting the fat off corporate America. There was inefficient and fraudulent behavior at the margins, but the overall effect on the economy was positive.

@chrissmith3587

4 ай бұрын

⁠@@mastpgraiders just loaded previously profitable companies with debt, they didn’t cut fat off they cut off companies legs The idea that they are eliminating inefficient companies doesn’t make sense given that the practices work equally well on healthy and dying companies

@mastpg

4 ай бұрын

@@chrissmith3587 Good luck learning to read. Inefficiencies within companies, not inefficient companies... You have an incomplete knowledge of the era and are only taking the worst examples, which is probably fine in your view, since you only seem to be interested in hyperbole. Study the history more and get better with the math if you want a complete perspective.

@chrissmith3587

4 ай бұрын

@@mastpg “inefficient and fraudulent behaviour at the margins” So they sold off profitable divisions and assets and took on large debt. They didn’t help any company but themselves

@mastpg

4 ай бұрын

@@chrissmith3587 "They" isn't a thing in this context. You're talking about hundreds of buyout shops and companies over decades. Good luck ever learning the full history of the industry and the underlying math. It's clear you gave no desire to understand it, but I wish you luck nonetheless. Quick question, how do you think the practice remained relevant for so long? The sector was somehow able to find marks to take the bad end of the deal for decades and decades? No one else ever made a profit or saw any benefit from the practice, but buyout firms were somehow able to run the same practice you believe to be scam with chump after chump in the private and public markets over and over and over again with no one else ever getting wise? This is what you're saying. Please confirm. Plenty of these deals didn't involve significant asset sales and plenty didn't involve overly onerous debt, ESPECIALLY when you consider how cheap financing has been throughout long periods within the last 40-50years, the period when private equity has grown most substantially. I mean, I agree with Buffet that the cheap used car salesman tactic used by buyout firms to solicit funds should be a put-off to potential investors, but your perspective on the industry as a whole is verifiably incorrect. You don't even seem to understand the basic process, much less the specifics of any particular deal or types of deals.

No, no he doesn't deserve a second chance. He ruined many thousands of people... he should have all his stolen money confiscated and paid to his victims.

Very educational.thanks

Two uploads in one day let’s go

Crazy that his outside appearance is slowly transforming into an evil skeletor to match his inner evil.

Early life section checks out as per ushe.

The fact that this guy, and those like him, are walking around free with a net worth of 6 billion dollars when they should be serving life in prison is absolutely inexcusable.

I can barely wash these videos knowing that these people got away with their crimes and not only continue doing them, but have a fucking conference is named after them

Did you see Michael Milken at the NY Mets game last year promoting his foundation? He's buddies with Michael Cohen the Mets new owner. My mouth dropped open, I was like whaaaaaat?????

Alexa, pull up "early life".

@crypto_que

Жыл бұрын

First thing I did. Drexel. Then the lawyers, the judges, & the media companies who made him a hero. It’s so transparently f’cked up.

Brilliant for applying the academic work identifying the untapped junk bond risk premium value. Unethical and criminal for what he did to push his product.

Thanks 4 Great Reportage! Fraudster are Obviously "Heil" as Heros among the same type of people 😎

milken? oye vey

He’s definitely one of the most unethical but evil? No, thats Kin Hung Un

Like victims who enable their abusers, our laws enable greedy billionaires like Milken to get away with their crimes while the people pay the price.

I love that both Trump & Biden are referred to as “Former” President & Vice President. That means video made after Biden became president but still referred to him as his old & not current position 😂😂😂

It's Mr. Burns 😂 Doh!

Most evil? Don't know about that... competition is stiff.

You should never judge a book by it's cover... no wait

He has a very trusting smile

There is a old book called “den of thieves” that talks about Michael, Ivan and other key players it’s a really good book

I remember when the story broke in the WSJ how the feds took his BMW and made him ride in a K Car to while under arrest, yet more interesting is the follow up story of what happened to him in the Federal Penn with the mafia. How they extorted him for stock tips and the treatment he got if the stock went bust. While giving authorized sport gifts to appeased for the losses.

I was having whiskey with Boesky & cookies with Milken.

Aaaa that’s how you drain the swamp! 😂

dude its investment banking....the end always justifies the means......if one doesn't like it then one is in the wrong industry

That’s clearly John Malkovich 🤣🤣

I don't even need to check 'early life' for this guy

Blackstone did not exist in the 1970s; it was founded in 1985.

Looks like you nailed all d key heroes in den of thieves except Martin Siegel. He’s with kidder Peabody. 😮

Incredible research, incredible channel...!

This is why I never trust america’s economy.

He looks like that bad lawyer for the hospital from Scrubs.

Greetings from PERU 🇵🇪excellent information of billionaire Milken

Read “Witness to a Prosecution” came out last year. It’s written by Milkens lawyer. Explains all the good he did and how he was railroaded

I was working on Wall Street. When this all happened,remember it well

Saddling otherwise solvent companies with huge debt in these leveraged buyouts, often pushing them into chapter 11 bankruptcies is something that needs to be banned.

Mr Burns hand-rub..."excellent"!

Wait, it isn't the point of capitalism to do as Milken did? What did I miss?

Michael "MEGAMIND" Milken....mans got ah 4+4+4head

A thought about your final thought… is there a sufficient amount of transformation that he could have demonstrated to obviate the need to cancel him?

Honestly every fortune 500 company at one point had “junk bond” status. If you invest in these bonds just understand what you are doing. Hedge your investments. Just play with these with a small amount of capital. Mark it as an expense. If it nets a profit good if not then you didnt lose your retirement. Also make sure your hedge fund doesnt deal with junk bonds.

No billionaire has any right to oxygen.

Eye-van Boesky. Not Ee-van.

Please look for vic reeves doing a master chef sketch. Beyond spooky

Why would you expect thieves to despise another thief?

Drexel wasn't a big investment bank before milken joined. he built their reputation until the downfall

Maybe in 20 years we'll see E Holmes "rehabilitated" and venerated like this guy. 😒

How many got an ad for the "Milken Institute" before this vid started?

Turns out that rich people don’t really get penalized for rampant financial crimes. Shocker.

19:45 - Lol, of course he's idealized by the financial class. He's an empty suit completely without morals, focused only on becoming rich and is a leech off of society. That's exactly what all of them aspire to be.

Fun fact: when Milken reported to prison, he was not permitted to wear his toupee. When he got out, he stopped wearing one. Another one, when Trump testified for his Taj Mahal casino license, he was asked if he would use Junk Bonds with high interest rates. Doing so would mean high debt payments and put more pressure on the casino. He said no and that he had financing lined up. Of course, he used Junk Bonds from Milken for the Taj and it went went through its first bankruptcy about a year later. It crushed a lot of small suppliers who still had not been paid for their work.

@jbern2185

4 ай бұрын

I didn't know he used Milken,, which of course makes sense. Smh! But it makes sense. A conman who always needs to borrow money and will agree to any interest rate since he probably won't pay it back anyway,,, meets another conman who can arrange that financing and doesn't care if it goes bust so long as he gets his massive commission. I guess its just naive of me to NOT figure out the connection when Trump pardoned him. But yeah, trump lied about the financing. The gaming law in NJ stated a new casino could not hold more than like 30% debt. Trump had like 40% private investment, then 30% bank financing, and then promised the rest for his $1 billion casino would be equity or private equity. That was a lie cause he used 30% junk bonds at 14%! That equals like $42 million a year just In interest! I'm not sure if Trump even made a single payment on those bonds and he surely didn't even make 2 payments. Less than 6 months and the Taj Mahal was already having trouble making these payments. It Was doomed from the start and the executives barely keeping it afloat ended up leaving. Well, 1 died in a helicopter crash, and the other quit when Trump blamed the dead guy for all his financial problems with the Taj. If you don't already know. Look up a guy named Marvin Roffman. He's the casino, investor analyst that trump got fired for predicted the taj Mahal collapse. Trump didn't like his correct analysis, got him fired, then the guy sued Trump,,, and won! He was