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Drexel Burnham Lambert

Entity Type
Investment Bank
Industry
Finance, Investments & Asset Management
Location
New York City
Founding Date
1935
Dissolution Date
1994

Drexel Burnham Lambert was an American investment bank that was famous for pioneering the junk bond craze. It was forced into bankruptcy in February 13, 1990 following several years of legal troubles. In what was dubbed as the “Valentine’s Day Massacre,” thousands were out of work due to its involvement in illicit activities in the junk bond market, orchestrated by its senior executive, Michael Milken.

Asset Classes

Junk Bond

People

Mike Milken

Mentioned by the Following

People

Ivan Boesky

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