. >> you may not have heard of michael milken, but this 40-year-old wall street whiz is said to be theer in america. he brought respectability to low rated junk bonds and then used the money to finance corporate raids and takeovers. without mike milken, pickens couldn't have raided phillips, 76 and gulf. >> he said if you really want to take over gulf, it's going to cost you $13 billion. i said, yeah, i get it. and he said, i can get the $13 billion. >> he's the guy that t. boone pickens goes to and most people haven't heard of him. >> that's the way he likes it. he doesn't care about publicity and pride. he just cares about doing deals and having power. >> he was this shadowy howard hughes-like figure that you never saw, you just heard. >> it was milken's genius that created an entire market and fueled this takeover phenomena. >> we romanticize these characters. the fact of the matter, these are fat cats, first cousins to the financial manipulators, the robert barons of the late 19th century. >> they're trying to make a buck by doing nothing and putting people out of work. >> economis