Fred Joseph: We Grew Quickly and We Stepped on Toes

In his first interview since the bankruptcy of Wall Street's Drexel Burnham, company chief Fred Joseph blames the Government and the press for hastening his firm's demise

Q. Many people feel that Drexel Burnham Lambert epitomized raw greed in the 1980s and that there is poetic justice in its demise.

A. That's primarily the result of how we were depicted in the press, and I think it's outrageous. The press has to capsulize things that people can absorb. The fact is, Drexel became the major source of capital for industrial companies in the country. Even our worst enemies think only a handful of people did anything wrong, so it's unfair to the vast majority of people at Drexel to lump them into a two-word tag line. The damage...

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