Disowning A Billion-Dollar Baby

Michael Milken, his wife and three children spent the day strolling through midtown Manhattan, looking for all the world like just another clan of holiday shoppers. But for the workaholic Milken, the idyll ended when he received some distressing news: the company that stood by him through almost two years of Government investigations had abruptly decided to settle its case with prosecutors, effectively cutting him adrift to fight his own battle. The junk- bond king, 42, who has created billions of dollars in revenue for Drexel, made hundreds of millions for himself and ranks as the most influential financier of the...

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