Michael Milken

Mike Milken: In the Future We’ll All Be Chinese

milken2.jpgThere will always be a place in our hearts that will never forgive Rudolph Giuliani for what he did to Michael Milken, who was a truly brilliant financial innovator. We were thrilled today to find this preview of an upcoming Judy Woodruf interview with Mike.

Michael Milken, the controversial financier and philanthropist, said China will overtake the U.S. economically this century, though for now the U.S. should concentrate on Mexico.
“Our projections show the United States will be the world’s second-largest economy and India will be the third,” some time this century, said Milken, chairman of the Milken Institute, an economic research group in Santa Monica, California.

That’s it. For lunch today, we’re heading down the street to the local Chinese food shop run by Mexicans.

Milken Says China’s Economy Will Overtake the U.S. This Century

Happy Birthday, Mike!

milkencake.jpgAs you all know, once a year Americans take the day off and close the markets to celebrate one of the most important days in US history. They barbecue various types of meat (and fake meat) and shoot small gunpowder-based explosives into the air. To outsiders, it may seem like a strange tradition, but it’s our way of commemorating something special and admitting that even as adults, we still like to set things on fire. That special day was yesterday.
On July 4th, sixty years ago yesterday, Michael Robert Milken was born.
A moment of silence, please.

Anyway. Milken is responsible for three of the oldest and most important cultural institutions on Wall Street: bad toupees, X-shaped trading desks and insider trading. Feel free to leave your memories of Mike in the comments section. You may even use haiku, if you like.