this after it was learned that ivan boesky was talking, and then some. >> as one former s.e.c. nding her private book of clients. >> this guy boesky takes a fall, and all over wall street they're practically jumping out windows. it comes out he's been taping his phone calls and maybe his private talks for three months. and wall street big shots begin wetting their -- well, you get the idea. >> of course ivan boesky was guilty. there was going to be no defense. all he had was bargaining power. who could he deliver? >> let me ask you this, levine was a fish, boesky was a shark. who's the whale they're going to catch? >> i don't know. >> drexel burnham? >> well, that's possible. >> in the middle of all this is drexel burnham lambert. until a few years ago, a little-known wall street firm. then it shot to the top of this high-stakes world by specializing in so-called junk bonds. high interest but also high risk. >> the commission says drexel and the head of its junk bond department, michael milken, made a secret deal with convicted stock swindler ivan boesky to make millions of doll