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Article: The Inside Trader Comes Out; Chronicling the Greed Of 1980s Wall Street
- Article from:
- The Washington Post
- Article date:
- September 9, 1991
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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INSIDE OUT;An Insider's Account of Wall Street
By Dennis B. Levine with William Hoffer
Putnam. 431 pp. $22.95
During the height of the takeover-and-junk-bond orgy on Wall
Street in the mid-1980s, no more critical voice was raised against
the new financiers and their methods than that of John Gutfreund,
the imperious chairman of Salomon Bros.
The takeovers have subsided and junk bonds are selling at
fire-sale prices, but Gutfreund has now fallen from grace as a
result of illegal efforts by Salomon traders to corner the market in
Treasury bonds.
The enduring lesson here may be that it doesn't really matter
what kind of bonds are involved, or what kind of transactions they
are ...