Apparently We’ve Forgotten Who the Milkens Are
Michael and Lowell Milken’s role in the rise of junk bonds helped make them rich. That wasn’t enough for UCLA to turn down Lowell’s $10 million donation—or even acknowledge his family’s checkered past.
By Nick Baumann | Thu Aug. 18, 2011 3:00 AM PDT
If, 20 years from now, a major public university were to name a program after one of the most controversial figures in the financial scandals of the late aughts—say, for example, the Angelo Mozilo  School of Finance, or the Joseph Cassano  Department of Economics—would anyone notice? Would anyone care? A little-noticed event last week suggests not.
Last Tuesday, the University of California-Los Angeles announced that it had accepted a $10 million donation from Lowell Milken to start the “Lowell Milken Institute for Business Law and Policy.” The university’s press release  described Milken as an “international businessman” and the “co-founder of Knowledge Universe, the world’s largest early childhood education company.” The Daily Bruin , the Associated Press , Los Angeles Times , and Los Angeles Daily News  all decided to leave their characterizations at that. But there’s a lot more to Milken’s story.
Folks who are aware of events that happened before the Clinton administration, however, will recall that Lowell Milken is the brother and business partner of convicted fraudster Michael Milken . Michael was the “junk bond king” who, in 1990, was sentenced to 10 years in prison for six felony violations of federal law (he served 22 months ). Lowell, like Michael, was indicted on federal racketeering  and fraud charges connected to insider-trading violations at Drexel Burnham Lambert, the now-defunct Wall Street investment bank where both brothers worked.
“While We Were Sleeping”
Orwell Rolls In His Grave, featuring MCM – Buy the DVD
About News From Underground
News From Underground is a daily e-news service run by Mark Crispin Miller, a Professor of Culture and Communication at NYU. It is based on his belief that academics, like reporters, have a civic obligation to help keep the people well-informed, so that American democracy might finally work.
If you'd like to receive updates delivered to your inbox daily, sign up for News From Underground Alerts:
Help News From Underground!
Message from Mark: "I am a one-man operation, although assisted greatly by some volunteers, and, now and then, by people paid by others for one-time projects. There is no shortage of skilled, dedicated folks out there who want to help me. There is, however, nothing I can pay them with, unless you decide you can contribute something."
Please donate via the PayPal button above or via PayPal by email to: email@example.com
- Please HELP FUND this documentary on JFK’s assassination!
- Talkin’ World War One Blues…
- How Australia plans to keep its vaccinated children safe from illnesses that they can’t catch
- On the mass delusion now afflicting liberals (and putting all of us at risk)
- There’s actually more evidence in Pizzagate than there is in “Russia-gate.”
- Forbidden Bookshelf on
- Contact Lou Dobbs on
- Forbidden Bookshelf on
- Top US spooks see NO “conclusive evidence” of Russian hacking in Election 2016 on
- How blaming Trump’s “election” on the Russians could force Hillary on us after all—and end US democracy for good… on
- The strange death of Nancy Schaefer (two items)
- Forbidden Bookshelf
- There's actually more evidence in Pizzagate than there is in "Russia-gate."
- Don't buy these products from Koch Industries!
- Please HELP FUND this documentary on JFK's assassination!
- Thom Hartmann
- History Unfolding
- The Ostroy Report
- Talking Points Memo
- The Existentialist Cowboy
- t r u t h o u t
- Veterans for Common Sense
- Writers Voice
- Barry Gordon
- Election Defense Alliance
- Early America
- Media Channel
- William Betz
- The Rude Pudit
- The International Human Press
- Suburban Guerrilla
- Words of Power
- Media Matters
Need a bigger font size?
- Your link could be here too, contact us for pricing details.