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Wrong Way On Wall Street (Part III) #108377

ABC Evening News for Wednesday, Mar 04, 1987
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(Studio: Peter Jennings) Report introduced.

(NYC: Joe Bergantino) Econs. involve in takeover mergers and their rel. to Wall Street's current insider trading scandals examined; takeover expert Michael Milken profiled as example [Columbia Univ. professor James ROGERS - notes Milken's power.] Major federal investigations into Drexel Burnham Lambert, Milken (one of its senior vice president's) and Ivan Boesky discussed; AM International's takeover of Harris Graphics Corporation said one of many takeovers involving all 3 currently being scrutinized. Possibility Boesky and Saul Steinberg were tipped off to pending Harris takeover explained. [Attorney Michael FELDBERG - explains cause of suspicion.] Similar conclusion of attorney Ira Sorkin noted; Drexel's executive Leon Black's situation cited as example [SORKIN - explains basis of Black's possible conflict of interest] Drexel, Milken, Black and others said all subpoenaed in case. Reactions of Drexel, Steinberg and Boesky outlined on screen.

(Studio: Peter Jennings) Part IV announced.

Reporter(s):
Bergantino, Joe;
Jennings, Peter
Duration:
00:04:50

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