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Gretchen Morgenson: From Wall Street to Journalism

Masters in Business

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The Crazy Rule: Shred All the Documents Related to Apollo's Junk Bond Portfolio

Leon Black was a corporate finance person who raised money for these companies. He didn't have anything to do with the collapse of Drexel, but he did buy its junk bond portfolio. The insurance department took it over in 1991; then we had Apollo's new firm after he fled from Drexel.

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