Transcripts for CNN The Eighties 20240604 06:49:00 : vimarsa

CNN The Eighties June 4, 2024 06:49:00

made a secret deal with convicted stock swindler ivan boesky to make millions of dollars illegally. krulwich: for example, california company wix came to milken's firm and told them that it was planning a takeover. the government charges that milken, in effect, went and whispered that secret to ivan boesky in new york. so boesky bought the stock before it went up, made millions, shared the profits with milken's firm, but the bottom line is, milken betrayed his client, charged a million-dollar fee, and then secretly earned $6.5 million more at the client's expense. levine: authorities are worried that further disclosures resulting from the boesky affair may weaken public confidence in financial markets and weaken the markets themselves. [ indistinct talking ] i just came from inside, and it looks like a madhouse. i guess the bull market's over, huh? it's a bloodbath down there. brady: they're calling it the monday massacre -- the worst drop in wall street history. well, i'd call it the nearest thing to a meltdown i ever want to see. brady: by the closing bell,

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