Episode 48 • • 50:40 - 53:04
48: How to Survive the Economic Collapse
Nick Leeson, Michael Milken, and Michael Jackson
Nick Leeson, the trader who collapsed Barings Bank, is compared to modern financiers who avoid jail time despite causing much larger losses. Michael Milken's history with junk bonds and his unusual 1993 partnership with Michael Jackson to form an educational television network is recalled. The discussion questions who will ultimately pay for the massive debt the U.S. owes the rest of the world.