[Torie]

What exactly is the Rubin-Boesky connection?

[LarryLied]

Boesky and Rubin were the two top arbs on Wall Street. Boesky was buying his information from Martin Siegel at Kidder, Peabody who was getting inside info from Bob Freeman--Rubin's protege--at Goldman Sachs's arbitrage desk. Giuliani busted Freeman in 1987. Needless to say, Rubin despises Giuliani (Freeman pled guilty).

Global Crossing also has its start in this era. Winnick got the loan to begin the company from Bruce Raben,Dean C. Kehler, Andrew R. Heyer, and Jay R. Bloom at the Canadian Imperial Bank of Commerce. All had worked for Milliken at Drexel. Winnick pulled $735 million out of GX before it went bust. They other four Milliken proteges played the stock all the way into the basement and made over $1 billion.