also high risk. >> drexel and the head of its junk bond department michael milken made a deal with ivan boeskynia company wicks was planning a takeover. the secret was whispered to boesky in new york. boesky bought the stock before it went up, shared the profits with milkens firm, but milken betrayed his client, charged a million-dollar fee and secretly earned $6.5 million more at the clients' expense. >> authorities are worried that further disclosures resulting from the boesky affair may weaken public confidence in financial markets and weaken the markets themselves. >> just came from inside. it looks like a mad house. >> i guess the bull market's over. >> it's a blood bath down there. >> they're calling it the monday massacre. the worst drop in wall street history. >> i call it the nearest thing to a meltdown i ever want to see. >> by the closing bell, the dow jones industrial average was down more than 500 points. >> this is a crash people hadn't seen since the great depression. no one had seen the stock market fall that quickly, that fast. >> paper losses of more than $500 billion. octobe