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Ivan Boesky - A Golden Opportunity, White-collar Crime, Michael Milken, The Junk Bond King, The Symbol Of Greed

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Born March 6, 1937 (Detroit, Michigan)

Wall Street financier, white-collar criminal


Ivan Boesky worked in the fast-paced, high stakes world of Wall Street investing during the suddenly lucrative years of the 1980s. He was a financier who built a highly successful business by trading stock in companies experiencing financial difficulties. Boesky, however, became involved in a financial scam using "insider trading" (buying and selling stocks based on information not available to the general public), amounting to billions of dollars. Boesky was caught and put on trial, and the country was shocked by the extent of stock related thefts revealed during the government's investigation of Boesky and other financiers. For his crimes in the insider trading scandal Boesky paid fines, served prison time, and was banned from the securities (stocks and bonds) industry for life.


"Greed is all right, by the way. I want you to know that. I think greed is healthy. You can be greedy and still feel good about yourself."

For More Information


Books

Boesky, Ivan F. Merger Mania: Arbitrage, Wall Street's Best Kept Money-Making Secret. New York: Holt, Rinehart and Winston, 1985.

Bruck, Connie. The Predators' Ball. New York: Penguin Books, 1989.

Stein, Benjamin J. A License to Steal: The Untold Story of Michael Milken and the Conspiracy to Bilk the Nation. New York: Simon & Schuster, 1992.

Stewart, James B. Den of Thieves. New York: Simon & Schuster, 1991.


Web Sites

Cramer, James J. "Bad Boys, Bad Boys." New York Magazine & Metro TV, October 20, 2003. http://newyorkmetro.com/nymetro/news/bizfinance/columns/bottomline/n_9352 (accessed on August 15, 2004).

"Ivan-owe." Philadelphia City Paper. http://citypaper.net/article/112201/news.ivan.shtml (accessed on August 15, 2004).

"Moyers on Enron and History." Public Affairs Television. http://www.pbs.org/now/commentary/moyers.html (accessed on August 15, 2004).

Additional Topics

Ivan Boesky - A Golden Opportunity

Ivan Frederick Boesky was born in Detroit, Michigan, in 1937. His father, William H. Boesky, had immigrated to America from Ykaterinoslav, Russia, in 1912. William ran a chain of bars in Detroit. Ivan spent two years at Cranbrook, a prestigious prep school (private school where students prepare for Ivan Boesky. (© Bettmann/Corbis) college) outside of Detroit where he distinguished…

Ivan Boesky - White-collar Crime

Insider trading occurs when any person on Wall Street receives confidential information about the movement of stocks or planned mergers and acquisitions. The person then takes that information and uses or trades it for personal gain. In 1934 the federal government set up the Security Exchange Commission (SEC) to regulate Wall Street. The SEC made it illegal for anyone to act on insider information…

Ivan Boesky - Michael Milken, The Junk Bond King

For generations the American bond market has been dominated by two large bond rating agencies, Moody's and Standard & Poor's. The agencies rate a corporation's risk factors in order to help guide investors on Wall Street. Companies trying to attract investors are given a rating and are divided into two categories—either investment grade or below-investment grade …

Ivan Boesky - The Symbol Of Greed

In 1985 the SEC began an investigation after detecting suspicious activity on the stock market. With insiders trading privileged information, various company stocks were being purchased in a dramatic fashion just before a major announcement about a merger or sale of the company was made. The Southern District of New York also conducted an investigation at the same time as the SEC. The prosecutor i…

Lizzie Borden - Fall River Home, Family Tragedy, A Good Daughter, William H. Moody, Her Day In Court [next] [back] Blackmail and Extortion - Extortion By A Public Official, Blackmail And Extortion By A Private Person, Modern Federal Statutes

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