Ross: Drexel's Market Share Fell from 70% to 40% Before Bankruptcy
Wilbur Ross · A Conversation with Wall Street Legend & U.S. Commerce Secretary Wilbur Ross · Joe Lonsdale · Aug 30, 2024 · at 6:38
Turnaround investor Wilbur Ross describes the rapid collapse and bankruptcy of investment bank Drexel Burnham Lambert as competitors entered the high-yield bond market.
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“Drexel went from 70% market share to 40%, went from being the most profitable firm on Wall Street to being bust.”
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