Excellence Redefined :: essays research papers

Excellence Redefined   Ã‚  Ã‚  Ã‚  Ã‚  The 1980’s has been called the â€Å"me† generation, the decade of materialism, and was responsible for the greatest number of mergers and takeovers in the history of the US market. People were transformed by the power of money, and tried to take advantage of the opportunities in the stock market. The stock market has never guaranteed a profit, but there were those willing to take the risk. People have lost millions from speculating on what was supposed to be a â€Å"sure thing† in the stock market. People would bet their children’s college fund, and their retirement money on a stock tip, only to find bankruptcy the next day. But the growing desire for power and money caused people to achieve success by any means necessary, regardless of the legality. Ivan Boesky and Michael Milken bet their money, but they always seemed to win, even when others would lose. It turns out that they had many â€Å"sure things,† only with one problem : they were all illegal. Boesky and Milken characterize the rest of the financial world at the time, and Wall Street is the movie that exemplifies the such attitudes of the 1980’s from Oliver Stones accurate point of view.   Ã‚  Ã‚  Ã‚  Ã‚   Boesky and Milken had a great system. They would befriend executives in â€Å"blue chip† companies or merger and acquisition lawyers , hoping they would be given information regarding takeovers and mergers of companies before the common public. When Boesky and Milken received such information, they would strategically buy a massive amount shares in a particular company, and simply wait for the corporate announcement to drive the price of their stock up. In an effort to alleviate the Securities and Exchange Commission, Boesky and Milken spread their purchases over a period of time, and each was funded by different offshore and domestic banks to misrepresent the number of buyers. When a company would makes its corporate announcement about the merger, the public would then begin buying the shares, causing the price to skyrocket. Boesky and Milken had purchased the stock so long ago and at such a low price that their profit expectations were quickly met, so th ey wanted to sell everything they had at the same time everyone wanted to buy. Because they owned such a massive amount of stock, there was no liquidity in the market in the market as Boesky and Milken were willing to sell for much less than the market value, and their profits soon became the loss of the public.