Michael Milken on Junk Bonds as Part of the 'Prosperity Formula'

1989: Kohlberg Kravis Roberts uses junk bonds to finance its $26 billion hostile takeover of RJR Nabisco.

Michael Milken at the New York office of Drexel in 1978. — Michael Milken at the New York office of Drexel in 1978.Photographer: Neal Boenzi/The New York Times

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By Michael Milken

December 4, 2014 at 8:13 PM UTC

This article is for subscribers only.

This article is part of the December 8, 2014 issue of businessweek.

Michael Milken on Junk Bonds as Part of the 'Prosperity Formula'

1989 Kohlberg Kravis Roberts uses junk bonds to finance its $26 billion hostile takeover of RJR Nabisco.