Monday, May 4, 2009

Junk Bond Milken & Next Round of Financial Innovation

The Milken Institute Global Conference is underway. Michael Milken is a reformed junk bond trader. It's funny what a few years in the penitentiary can do.

Financial innovators are known to attend. Fast Company reported attendees include:

Michael Milken, Lewis Ranieri, Dr. Richard Sandor and Dr. Myron Scholes: the innovators of fixed income, mortgage back securitization, treasuries and options markets respectively.

I can't wait to hear what they dreamed up for investors. Securitization and naked credit default swaps didn't turn out so well.

But beauty pageant financed breast-enhancement got the contestant second place. Is that the opposite of micro lending? I'd best wait to hear what the big money boys offer up.