Richard Sandler
Executive Vice President, Milken Family Foundation. On 2 shows, 2 appearances. The Shows tab opens the full record on each.
authorexecutiveinvestorotherrichardvsandler.com ↗
Richard Sandler is an attorney, author, and Executive Vice President and Trustee of the Milken Family Foundation. He served as Michael Milken's longtime personal defense lawyer and authored Witness to a Prosecution: The Myth of Michael Milken.
2shows
2appearances
26statements
18resolved
11supported
4contradicted
61%fully supported
3said about them ↓ Everything Richard Sandler said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Sandler: Prosecutor Admitted Lowell Milken Was Indicted to Pressure Michael
“When we asked us specifically about the dive in a low milk and he acknowledged the fact that Lowell would not have been indicted if it wasn't to bring pressure on his brother.”
Sandler: Milken pleaded to offenses never criminally prosecuted before or since
“None of which, and this is why I go in great detail in the book so people understand how in many ways ridiculous it is, none of which had ever been the subject of a criminal prosecution before or since.”
Sandler: Wall Street establishment targeted Milken after Drexel enabled hostile takeovers
“So Mike was an attractive target because he really wasn't liked by a lot of people in the business round table and in the established firms. He was getting a lot of publicity. He was very successful. And so people complained to the SEC, they complained to Cong…”
Sandler: Prosecutors threatened to destroy Princeton Newport unless it aided Milken prosecution
“The prosecutors at the time had told the principals and the lawyers for Princeton Newport that they're going to run over them. They're going to destroy them unless they help them against Michael Milken and another Case that was under investigation at the time,…”
Sandler: Drexel's settlement forced Milken's firing and barred employee contact
“Part of the deal with the government was they had to get rid of Michael Milken Not only did they have to get rid of Michael Milken, but under the deal they made with the government, no employee of Drexel was allowed to discuss any business matter with Mike.”
Sandler: Sentencing judge found zero economic impact for four Milken pleas
“When the judge who sentenced Mike did an analysis of the economic effect of everything Mike led to, put to five different things. She found that the economic effect of four of the things he led to was zero. And the economic effect of the fifth was about 280,00…”
Sandler: Young Prosecutors Lack Life Experience and Act Like Avenging Angels
“These young prosecutors that are going after you, they said, they're not mostly evil or bad people. They are young people with no life experience. They don't understand what it means if they're wrong. They believe they are avenging angels in some ways.”
Sandler: Milken pled to violations never previously criminally prosecuted
“We actually found things to plead to, none of which had ever been subject to criminal prosecution before, many of which hadn't probably even been enforced as regulatory violations before, but we found things that he could admit to.”
Sandler: Judge assessed market damage from Michael Milken's violations at zero
“Interesting enough, when the judge assessed the economic damage to the marketplace from everything Michael pled to, included on the three counts that related to Bosque, that the total economic effect of these violations was zero. Not one penny was lost.”
Sandler: Drexel collapsed after funding unsold inventory with commercial paper
“What had happened is, to prove they could still get deals done, they were taking a lot of securities that they couldn't sell into inventory, and they were financing it by issuing commercial paper in the commercial paper market. So in financial parlance, they w…”
Sandler: Milken received a 10-year sentence via consecutive two-year terms
“And she gave him a ten-year sentence, which number one, negated what we thought was a cap of five years. Because she gave him two years on five counts to Z serve consecutively, not concurrently.”
Sandler: Milken's sentencing judge told parole commission no further wrongdoing was proven
“The judge who sentenced Mike, who held the Fatico hearing, wrote a letter to the parole commission on Mike's behalf, indicating that she held the Fatico hearing, and she did not believe that any further wrongdoing other than what he pled to could be shown, eve…”
Sandler: Michael Milken did not go to prison for insider trading or bond fraud
“And then as time passed, and some of the same lies kept getting repeated, you went to jail for insider trading, or you went to jail for fraud in the bond, none of which is true.”
Sandler: Competitors labeled bonds 'junk' because they couldn't compete with Drexel
“I think the other reason they were called drunk junk is because when Mike and Drexler became so successful in this area, other firms that really couldn't compete with them tried to kind of let people think that these bonds, there's something wrong with this, t…”
Sandler: Drexel financed Turner, Wynn, MCI, and Pulte when Wall Street wouldn't
“Of bonds for companies, and companies such as Ted Turner, Steve Wynn, MCI Communications Pulte Homes, all these companies that could never gotten financing before were now able to get financing and grow, and the market grew from that.”
Sandler: Milken received about 30% of department profits for bonus allocation
“Mike's deal that he'd made from Drexel at a time when it was a very small market was that something like 30, 30 some odd percent of the profits of his department would go to the bonus pool he could allocate.”
Sandler: Ivan Boesky did very little trading with Drexel Burnham Lambert
“Ivan Boski was probably the most revered and respected risk arbitrageur on Wall Street. He had accounts with every firm. In fact, he did very little trading with Drexel. He was probably the largest equity buyer of securities of stocks at the time for any firm …”
Sandler: Non-investment-grade original debt issuance was unheard of before Michael Milken
“The idea of a new issue of a high-yield security, our new issue of debt security for a company that Could not get an investment grade was unheard of when Mike came to the market.”
Sandler: Princeton Newport collapsed before trial under RICO before winning on appeal
“The firm was out of business before the first witness was called in the trial, because under RICO, you could create a freezing of assets, and as a financial institution, that's very, very difficult. So, even though Princeton Newport case was reversed on appeal…”
Sandler: James Stewart never questioned him on claims made in 'Den of Thieves'
“He met with me twice. Never asked me one question about things he said about me in the book, some of which are not true.”
Sandler: Successful figures must proactively define their narrative before scrutiny
“Where traditionally back then the idea was, if you're under investigation, don't talk to the media, don't do anything. You have to have a media policy. You have to basically tell your story. But I would say the number one advice that I would give that we did n…”
Sandler: Targets of federal criminal investigations have virtually no discovery rights
“You have really no rights as a person under investigation. You don't have a right to ask them questions. When they subpoena documents, you don't get a copy of the subpoenas documents they get from other people. They subpoena people to appear in front of grand …”
Sandler: Ivan Boesky Was the Largest Equity Trader on the NYSE
“He was the largest really purchaser and seller of equities on New York Stock Exchange, larger than any institution at the time.”
The other half of the tape: Richard Sandler's own voice is left out of every number here. Other people bring the name up 3 times in 2 episodes across the shows. every mention, with the transcript →
Who brings them up most Ted Seides 3
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Capital Allocators 3
2024 3 mentions in 2 episodes 2 per episode
One line per show, most statements first. The link opens Richard's full record on that show: the calibration, argument clarity, speaking style and every statement made there.
| Show | Role there | Eps | Statements | Record | |
|---|---|---|---|---|---|
| CAPITAL ALLOCATORSLEDGER | Executive Vice President, Milken Family Foundation | 1 | 16 | 75% 9/12 | full record on Capital Allocators → |
 AMERICAN OPTIMISTLEDGER | Executive Vice President, Milken Family Foundation | 1 | 10 | 33% 2/6 | full record on American Optimist → |