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The one-time Junk Bond King was always closely aligned with Hollywood and directly contributed to the rise of Big Media's 
infotainment monopoly by plotting the corporate mergers that became today's Viacom and Time Warner. 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. The argument for doing it appears to be this: that Milken, as a reformed and repentant Wall Street executive, is the hope that society can hold for the Madoffs and Skillings of today that they may someday further society's needs instead of their own.
Milken was indicted on 98 counts of racketeering and securities fraud in 1989 as the result of an insider trading investigation. After a plea bargain, Milken admitted guilt to six securities and reporting violations and was never convicted of racketeering or insider trading. He was sentenced to 10 years in prison, but was released after only 22 months. (The late producer/manager Bernie Brillstein told me he bought the showbiz rights to the book Predators' Ball about the predator's fall in order to deep-six it at Milken's request.) Not only was Milken toppled but also the brokerage firm Drexel Burnham Lambert where Milken (who was Ovitz's Encino high school classmate) invented the junk bond market that helped some companies grow and enrich an elite clique of corporate CEOs. But other companies failed leaving shareholders and U.S. taxpayers on the hook for billions. Sound familiar?
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Well, there are a lot of folks without Milken’s money and Hollywood connections bucking for pardons that many think deserve pardons, but probably won’t get them for reasons that only make sense to Bush himself, so Milken getting one isn’t that much of a stretch.
The idea of buying a pardon is so cynical – doesn’t exactly make me see Milken as a model of hope for a society screwed over by the likes of Madoff and Skillings.
I’d prefer pardons for people who were wrongly or unjustly convicted (why not fully fund the Innocence Project?). However, to the extent an individual repays society for their wrong through donations, charity or other efforts, I think a pardon should be considered if they also received punishment (through prison, fines or other penalties). I don’t know if Milken should get one, but I don’t believe the amount of “prison” time is a good metric. The only people who should be in prison (e.g. cages) are violent people. The rest should have certain freedoms taking away and be forced to repay society enough to compensate AND to discourage others from committing similar crimes. We can’t afford to throw everyone in jail, particularly old guys with health issues. JMHO
Let’s be clear about something. Milkiin’s philanthopy is anything but. His work in the field of prostate cancer research is NOT altruistic. He’s got a history of the disease and without question would not have looked at the cause cross eyed if he hadn’t himself been diagnosed and treated for it. Predictably, his advocacy for this cause is in an effort to save and preserve his own dick and his own life not that of others. If other benefit in the process of his saving his own hide then that’s just a great PR bonus. He’s a criminal seeking absolution from our outgoing criminal president.
I don’t think Bush will pardon Milken after the way the Marc Rich pardon stained Clinton’s exit from office. Besides, Milken doesn’t deserve it and doesn’t need it. He’s not a fugitive living in another country, he’s not in prison and he’s got plenty of money. Bush doesn’t need to do this since he’ll never run for any kind of office again and since Laura Bush isn’t running for the senate and doesn’t need campaign contributions the way that Hillary did prior to the Rich pardon, there’s no upside or rationale for Bush doing this. Sorry Mike, but you’re a convicted felon and will remain that way for the rest of your life… or maybe you can convince Obama to pardon you (I understand he’s soliciting contributions already for Obama 2.0).
Milken is getting through life just fine without a pardon. I think pardons should be reserved for those people who are possibly wrongfully serving time, or those who were clearly railroaded. Milken did the crime and in fact did the time…let’s save the ink for someone else.
Why would you even think this?
Can we stop the Bush-bashing stupidity, now?
Sorry my bad, it’s Hollywood, they can’t stop hating Christians, Conservatives, or Bush. I suggest therapy folks.
What a scumbag punk-bastard
Without forgiving any of his past sins — which are many — it is worth mentioning all the good Milken has done since then. Particularly the wonderful work he has done advancing medical research into cures for many life-threatening diseases, the schools he has built, the scholarships he has sponsored, and his commitment to prostate cancer and awareness. There is no doubt that his actions have hurt many but there is also no arguing that his work since then has helped just as many, if not more.
George W. Bush should not do this.
It would only underscore what critics contend was his presidency’s casual attitude toward “free market” thinking.
Bush should take this time to remind America that long before the Obama camp co-opted the phrase “transparency” like a manufactured reincarnating Lincoln Bible, and long before the current financial situation, he went to Wall Street to address the need for “transparency” amongst the financial institutions and people who were the host environment creating the wealth that paid for a.) Obama’s campaign; and b.) his upcoming Inauguration festivities. In tandem with the hard-earned fives and tens of the average American people – perhaps many children and youngsters who don’t even vote – who voted for Bam-Bam the way that kids do for the players in the NBA All-Star Game.
People losing their homes aside God forbid Pebbles and Bam-Bam not have their it’s-only-evolution “second generation” delusional Camelot presidency in Bedrock, U.S.A! What would objective journalist Gwen Ifill write about in Ebony and Essence? (I cringe thinking about that Inauguration speech. Will he wear a top hat the way that JFK did? Or will he purposely NOT wear a hat the way that Kennedy famously did not throughout his presidency. Will he be in an FDR wheelchair smoking in front of the kiddies with a cigarette holder? I’m assuming that his speech will be just like Obama : robotically smart-designed (Hi Hillary! I’m sending tis to you on my iPhone! Signed, Osama bin Laden)to invoke the glories of other people’s (men’s unfortunately) presidencies. This would theoretically be symbolic synthesis when in fact it is a complete indicator of a lack of ideas that will benefit ALL THE PEOPLE… forget about any ORIGINALITY showing up at the party…that’s what happens when you cherry-pick other people’s styles…you have none to call your own. (No matter what he says this is what we’re gonna hear : “LET THE WORD GO BACKWARD…THAT A TORCH HAS BEEN RIPPED OFF”…when Biden’s guy’s mettle is tested…I think we’re gonna get a Civil War re-enactment on the South Lawn…with Bam-Bam posing in the middle of it with a cell phone on a StairMaster with a non-verbally communicating fist bump “thuggy” Chicago White Sox baseball cap on backwards.
He’ll ask himself : “what would Diddy do?” Or Tom Cruise maybe…
In truth, personality product placement “celebrity” Huffington Post-It notes aside, the underlying factors of the current financial climate perhaps began with Milken’s “junk bond” era.
America should be REMINDED that the so-considered “halcyon” Clinton era – during the Rwandan genocide that their high-fee “foundation” is now supposed to redress – benefited just as much or more from “free market” than the George W. Bush presidency ever did.
A pardon? You mean, like, a credit report “amnesty?”
It’s great that Milken’s done good work since his institutional and professional rape of financial systems.
He’s free. He did indeed pay a semblance of debt to society. He suffered personal costs though none particularly financial frankly.
Let the absence of any “pardon” whatsoever serve as a reminder of how lucky the man is as an adult compared to the average worker bee drone in constant fear of losing their jobs.
Milken is an excellent example of how effective Federal punishment can impact the common good of society.
Aside : I think that Obama did not sit down with the New York Times is appalling especially with the newspaper industry in crisis as well.
But of course he did put together face time with all the pundits no matter the party.
Actual reporters who probe and ask questions? Bah, humbug! The people who have the space to spin myth and legend for the “does the campaign ever end?” presidency…what question do you have that I can evasively answer that says absolutely nothing in substance. Love the drapes!
“George Will. Help. I’m here to help. When you’re the only person who can help…when you have the “technology” to help…what else can you do?”
Couldn’t be worse than Clinton who sold a pardon to that terrorist Mark Rich.
With the current mess caused by guys like Milken, pardoning him is the worst possible thing that Bush could do, it would show that he has learned nothing these past eight years. In other words, count on Bush pardoning Milken, done deal.
I’ll be happy if Shrub doesn’t give him the Presidential Medal of Freedom.
He’d have had a better chance when Clinton left office in 2000. If he can wait four more years he might get one when Obama is finished.
…it is worth mentioning all the good Milken has done since then. Particularly the wonderful work he has done advancing medical research into cures for many life-threatening diseases, the schools he has built, the scholarships he has sponsored, and his commitment to prostate cancer and awareness. There is no doubt that his actions have hurt many but there is also no arguing that his work since then has helped just as many, if not more.
•••
It is good to be able to go thru life, whistling a happy tune.
That said, this guy destroyed tens of thousands of people’s financial futures while improving his own. As someone else stated, his “research” into prostate cancer is only because it helped himself.
We need to call out criminals for what they truly are, which is a menace to the overall health of society. Milken is a criminal and should remain classified that way until he drops dead. No amount of do-gooding will absolve him of the mantle of scum.
-Scott
Milken didn’t actually do anything wrong. The SEC went after him because he invented something they couldn’t quite understand. It was similar to the Federal Tax Evasion case against Leona Helmsley. They nailed her for not paying taxes on a couch her company bought that she used for personal use. Big deal. They just go after rich people all the time. Leona was a total c*nt and people hated her so they got her on the flimsiest of charges. Hey maybe she treated her maids like 3rd class citizens, but man you could sure bounce a quarter on those beds in her hotels.
Milken did more good than bad. The LBOs that Drexel financed were (mostly) successful, barring the RJRNabisco debacle — but that was mostly KKR’s fault. Aside from the LBO craze, Drexel sold the junk paper to build The Mirage Hotel and Casino and many other resorts around the world.
People didn’t like him because he was the smartest man at the time on Wall Street and everyone was jealous of what he created.
It was the Ivan Boeskys of the world who did the real crimes.
-RnsW
Paul Young. Pardon?
Thank you.
I tend to agree with Howie…after the Marc Rich debacle, surely Bush is stupid enough to pardon Milken. Oh, wait.
“Why would you even think this?
Can we stop the Bush-bashing stupidity, now?
Sorry my bad, it’s Hollywood, they can’t stop hating Christians, Conservatives, or Bush. I suggest therapy folks.”
Uh, “Mark”? Or Bill O’Reilly, whatever the hell your name is. Why would we even think that that son of a bitch, Bush would pardon such a hideous pig like Milken? Maybe because not only is Bush a fellow jackal who has not only prayed upon the innocent for profit and deregulated the markets to create the present state of total chaos, but Bush also PARDONED SCOOTER LIBBY.
Scooter. Libby. Remember him, Mark? The guy who was neck deep in the Bush Administration’s vindictive outing of a CIA Operative because her husband raised legitimate questions about his vile war-for-profit motives in Iraq!
And then there was a little something that happened in Iraq. A company friendly to Bush called BLACKWATER murdered innocent civilians and over-billed the government for their criminal services in the process. And W didn’t do a damn thing about it, despite the public outcry, despite the rage of the government and the people of Iraq!
But Republican memories are short, I know, particularly when it comes to their own party’s myriad heinous crimes. Especially when you GOP heroes are chanting and championing the virtues of patriotism, which you seem to have the monopoly on these days.
And before you even think about reciting the new BS Republican mantra that “Bush kept us safe”, I’d like to remind you of a little thing he ignored in late August, something entitled “BIN LADEN DETERMINED TO STRIKE INSIDE US”. Remember that? What was it? Oh yeah! It was a Presidential Daily Briefing from the CIA! But your hero Bush was too busy frolicking on his damned Texas ranch to be bothered with something as trivial as national friggin’ security!
Poor Bush, indeed! Go back to the Rush Limbaugh chat boards, you prick!
The governments case against Milken was pretty weak. What it lacked in substance they made up in volume. Typical of the feds, they charged him with everything they could think of, except jaywalking. Most people who read about the Milken case figured ‘where there’s smoke, there’s fire’. The government focused on the large amounts of money involved, creating the meme that only someone who was doing something illegal could earn 200 million a year. I have friends, seemingly intelligent, who fell for that argument.
Many times prosecutors get a Grand Jury to indict someone for their own political gains. Correct me if I am wrong, but I believe that Milken’s prosecutor eventually became the mayor of New York and even made a Presidential run.
I would say that it is just as likely that the prosecutor was using Milken as a high profile case to make a name for himself as it was that Milken was actually guilty of a crime.
Therefore, it is a roll of the dice. At the end of the day you can’t be sure either way. All anyone with a conscience can hope for is true justice is served.
It is a tough pill to swallow to realize that life isn’t fair and from time to time, good people do in fact get prosecuted and evil people many times never get caught for their crimes.
Without regards for what Milken has done since his prosecution, my feeling is as follows:
If Milken was truly guilty he should not be pardoned.
If Milken was used and not guilty he should be pardoned.
That my two cents worth. I hope that anyone reading this post feels it was worth two cents.
Thank you,
TeekieTorch
“Robert Not So Wise” is right. Milken made mistakes and several lapses in judgement which is why he paid back an enormous amount of money and served his time in prison while suffering a chronic illness. Yet, he turned his life around during his time in prison.
He spent his personal fortune to create the Milken Family Foundation “to discover and advance inventive and effective ways of helping people help themselves and those around them lead productive and satisfying lives.” Primarily through work in education and medical research.
With education – “Strengthening the profession by recognizing and rewarding outstanding educators, and by expanding their professional leadership and policy influence. Attracting, developing, motivating and retaining the best talent to the teaching profession by means of comprehensive, whole school reform.
Stimulating creativity and productivity among young people and adults through programs that encourage learning as a lifelong process. Building vibrant communities by involving people of all ages in programs that contribute to the revitalization of their community and to the well-being of its residents.”
With medical research – “Advancing and supporting basic and applied medical research–especially in the areas of prostate cancer and epilepsy–and recognizing and rewarding outstanding scientists in these areas.
Supporting basic health care programs to assure the well-being of community members of all ages.”
The case against Milken was a slam dunk, otherwise he would have fought it. It’s very hard to win those cases. If the government hadn’t brought down Milken he would have come down exactly like Madoff when his ponzi scheme came undone. The most disturbing part is the way he manipulated the media afterwards, putting out the message that he was ahead of his time and the government didn’t understand. People who believe that are the same people who followed Madoff. Finance isn’t that complicated. If you think it is you’re not very smart or you simply have no experience in finance. That doesn’t mean it’s easy to make money. It means there’s no secret tricks that are legal. Likely the government didn’t go after Madoff exactly because they were afriad of the type of attacks the Milken sent out. Don’t criticize rich Jews is the biggest commandment in America. It’s nice to see their media control collapsing but it’ll take decades to wipe out all the lies they’ve been pedaling (ie Milken was misunderstood). As for his donations they don’t cost the interest on his assets. They allowed him to bounce right back. The example he’s left is you can steal billions and be convicted and it’s nothing.
“Excuse You”, Bush did not pardon Scooter Libby. You should get your facts straight before posting ridiculously misinformed tirades. Doing so might help you to appear less stupid than you actually are. Then again, that may not be possible.
Certainly, Milken has done great charity work. But the only reason he does that is to repair his reputation – trick people that he’s not the crook he is. Tell him to do another 50 years of charity work to get his pardon. Then don’t give him the pardon.
Chauncey –
I was a little hot under the collar when I lashed out at Mark and his deliberately provocative, misguided accusations.
Bush did not pardon Libby. He did, however, COMMUTE his sentence. Prison time was taken off the table.
Were you defending that yahoo Mark? Or are you Mark? Or were you attacking me for attacking Bush? Or are you just towing the GOP line by quibbling over even the most trivial of factual details because you have no other defense, when your party (and President) never had any moral high ground to begin with?
EYM
Mark, you ignorant “S^%&!
Eight long years, of Church intervention/manipulation and you want us to “move on?
of the political landscape leaves little doubt as to your coronation of “Pope Bush I” political and spiritual leader of U.S. war-mongering Christendom.
Can I forget that f rom 9/11 onward, The marquees of Churches have had barely disguised messages for war support and Bush support?
As but one of the dozens of examples I have tallied was this one just two days after 9/11 which, right next to their crucifixion sign, read: “ We have awoken a sleeping tiger — Admiral Yamamoto”
Just purge or bury from my mind the fact that for Eight years as I drove down the freeway I was assaulted by Thousands of Bush Cheney bumper stickers which—- were invariably stuck right next to another bumper sticker of the Christian “fish”.
Had the Churches stayed out of politics, it is my belief Bush would never have been elected.
Had they remained politically neutral, they would be in the hot seat now.
But,
when a cross, a flag, and a war drum get as smeared together as they have for the last 8 years, don’t you dare ask us to “forgive and forget”.
Bush and the vast majority of Christian followers are forever, inextricably bound to one another and NO Mark, we will not forget.
Just as your base carped about Monica Lewinsky for eight years (I too had hoped you guys would get therapy and get over her) your people are now destined to be slammed for the most egregious attempt to theocratize the U.S.
My minister (I used to enjoy Church years ago) once opined, “Churches seem to do the best work when they are oppressed. Don’t push it Mark – Many of us think that part of any reconstruction program should be the building of pubic lions dens.
And with that I will leave you with my bible quote of the day. It’s not FROM Mark, but it is FOR Mark.
Vengeance will be mine. —— Romans 12:19