The Man Who Mopped Up The Milken Mess

When the Securities & Exchange Commission filed its massive securities fraud suit against Michael R. Milken in 1988, his lawyers tried to get U.S. Judge Milton Pollack off the case. They accused Pollack of conflict of interest, pointing out that his wife stood to make $30 million in a leveraged buyout of a family retail chain financed by Milken employer Drexel Burnham Lambert Inc. When Pollack refused to step aside, Milken's lawyers took their appeal all the way to the U.S. Supreme Court.

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