Michael Milken supported the pricing of the junk bond market with a daisy chain of huge investors buying and selling bonds to each other.
A key part of that daisychain was executive life insurance in California, run by Fred Carr.
When the junk bond market tanked, executive life insurance went broke and was taken over by the state of California’s insurance agency.
John Garamendi, then the California insurance commissioner, needed to hire a crack team of financial professionals to run the estate of executive life while it was in bankruptcy, and to provide forensic accounting support for that many lawsuits that were ongoing.
A chief financial officer was appointed for a period of two years to deal with the interim operations of executive life insurance, and to provide expert testimony in the related lawsuits.
Originally posted by Doug: 6 degrees of Michael Milken:
Michael Milken supported the pricing of the junk bond market with a daisy chain of huge investors buying and selling bonds to each other.
A key part of that daisychain was executive life insurance in California, run by Fred Carr.
When the junk bond market tanked, executive life insurance went broke and was taken over by the state of California’s insurance agency.
John Garamendi, then the California insurance commissioner, needed to hire a crack team of financial professionals to run the estate of executive life while it was in bankruptcy, and to provide forensic accounting support for that many lawsuits that were ongoing.
A chief financial officer was appointed for a period of two years to deal with the interim operations of executive life insurance, and to provide expert testimony in the related lawsuits.
That chief financial officer was me.
I am impressed.
(but can he type?)
-------------------------------- Several people have eaten my cooking and survived.
Posts: 25850 | Location: Still living at 9000 feet in the High Rockies of Colorado | Registered: 20 April 2005
Originally posted by Doug: 6 degrees of Michael Milken:
Michael Milken supported the pricing of the junk bond market with a daisy chain of huge investors buying and selling bonds to each other.
A key part of that daisychain was executive life insurance in California, run by Fred Carr.
When the junk bond market tanked, executive life insurance went broke and was taken over by the state of California’s insurance agency.
John Garamendi, then the California insurance commissioner, needed to hire a crack team of financial professionals to run the estate of executive life while it was in bankruptcy, and to provide forensic accounting support for that many lawsuits that were ongoing.
A chief financial officer was appointed for a period of two years to deal with the interim operations of executive life insurance, and to provide expert testimony in the related lawsuits.
That chief financial officer was me.
-------------------------------- When the world wearies and society ceases to satisfy, there is always the garden - Minnie Aumônier
Posts: 38221 | Location: Somewhere in the middle | Registered: 19 January 2010
Originally posted by Doug: 6 degrees of Michael Milken:
Michael Milken supported the pricing of the junk bond market with a daisy chain of huge investors buying and selling bonds to each other.
A key part of that daisychain was executive life insurance in California, run by Fred Carr.
When the junk bond market tanked, executive life insurance went broke and was taken over by the state of California’s insurance agency.
John Garamendi, then the California insurance commissioner, needed to hire a crack team of financial professionals to run the estate of executive life while it was in bankruptcy, and to provide forensic accounting support for that many lawsuits that were ongoing.
A chief financial officer was appointed for a period of two years to deal with the interim operations of executive life insurance, and to provide expert testimony in the related lawsuits.
That chief financial officer was me.
Ya think you know a guy . . . .
Posts: 19833 | Location: A cluttered house in Metro D.C. | Registered: 20 April 2005
