Return Of The Buyout Kings

It's not the '80s, but falling interest rates and a beat-up stock market are attracting the sharks

Michael Milken may have lost his bid for a presidential pardon, but some familiar wheeler-dealers that he either funded or fought in his heyday as Wall Street's junk-bond king have resurfaced, let back in the game by a receding stock market. And they aim to play. The names include Carl Icahn, Henry Silverman, Ted Forstmann, Irwin Jacobs and Henry Kravis--an '80s reprise that almost makes you want to cue the Ramones and slam dance.

We're not on the verge of a greedfest like the reckless '80s, a period that youngsters may be surprised to learn was far more rapacious than anything...

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