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1997-01-08 - Re: Inflation-index bonds and private e-currency

Header Data

From: dlv@bwalk.dm.com (Dr.Dimitri Vulis KOTM)
To: cypherpunks@toad.com
Message Hash: a580a69b56ff4095b2897ce59c73727841b61e94c1619b472090b450d0d582b0
Message ID: <qyq8ZD21w165w@bwalk.dm.com>
Reply To: <32D2F907.2748@gte.net>
UTC Datetime: 1997-01-08 13:40:54 UTC
Raw Date: Wed, 8 Jan 1997 05:40:54 -0800 (PST)

Raw message

From: dlv@bwalk.dm.com (Dr.Dimitri Vulis KOTM)
Date: Wed, 8 Jan 1997 05:40:54 -0800 (PST)
To: cypherpunks@toad.com
Subject: Re: Inflation-index bonds and private e-currency
In-Reply-To: <32D2F907.2748@gte.net>
Message-ID: <qyq8ZD21w165w@bwalk.dm.com>
MIME-Version: 1.0
Content-Type: text/plain


Dale Thorn <dthorn@gte.net> writes:
> The Wall Street Cabal (as they say) was genuinely frightened that since
> Milken was so successful with high-yield bonds, they deliberately created
> the term Junk Bonds and flooded the markets with appropriate propaganda,
> and thereby killed off their competition.  How they turned it into a
> criminal offense is truly an art.

Before Milken, it was impossible for a small company or municipality without
a stellar credit history to sell bonds to the public. They had to borrow
from the Wall St Cabal at usurious rates. Milken made it possible for them
to bypass the Cabal. He was convicted of some truly bizarre charges (let
Uni explain what exactly he was guilty of) and given a truly bizarre
sentense by judge Kimba Wood (who, by the way, was Clinton's first choice
for AG before Rhyno). Still, his brainchild, junk bonds, are alive and well.

---

Dr.Dimitri Vulis KOTM
Brighton Beach Boardwalk BBS, Forest Hills, N.Y.: +1-718-261-2013, 14.4Kbps

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