Saturday, January 17, 2009

Watch List: Milken Making the Big Pitch?

Nikki Finke of L.A. Weekly is reporting that 62-year old billionaire Michael Milken is tossing around huge amounts of cash in an effort to obtain a presidential pardon before Tuesday. Milken, the architect of the "junk bond" market in the 1980's has served his time in prison, but remains barred from the securities industry. Says Finke:

Now I'm hearing from sources that current-day philanthropist Michael Milken is "spending a bundle" trying to get George W. Bush to pardon him by January 20th. My insiders say the amount is in the seven figures to highly connected consultants and attorneys. It'll be interesting in today's climate of economic crisis to see whether Bush succumbs to this influence peddling for Milken who was the poster boy for Wall Street greed in the 1980s.
It is already known that Ted Olson, solicitor general during Bush's first term, submitted a pardon application for Milken. See article here

1 comment:

Anonymous said...

Bush will pardon the Milken, the most dangerous convicted white-collar criminal in U.S. history.

Bernie Madoff hasn't been convicted yet.

And, yes, Milken entered a plea of guilty to six securities and reporting violations. He was sentenced to 10 years in jail. He bought his way out after 22 months.

In 1998, Milken, who had been barred for life from the securities industry, returned $47 million to settle an SEC charge that he had allegedly advised MCI/News Corporation, the latter being owned by his old puppet, Rupert Murdoch, in a 1995 deal and also advised Revlon chairman Ronald Perelman, another old Milken lapdog, on a Revlon/New World Communications deal in 1996.

Murdoch had obediently paid Milken $27 million while Perelman, puppet that he is, coughed up $15 million to Milken.

Of course George W. Bush and his boss, Richard Milhous Cheney, will pardon the most diabolical white-collar criminal in U.S. history in the midst of an economic disaster.

That's the Conservative way. We're just a bunch of Pat Leahys to Conservatives and their view of the law.

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