Don’t Speak to the Feds

In the late 1980s, as federal prosecutors in Manhattan (where Rudy Giuliani was the U.S. Attorney) were leaking information to the media about the alleged misdeeds of investment banker Michael Milken, the Milken team asked to meet with federal officials. Milken and his lawyers believed that what Milken was doing was legal but perhaps misunderstood, and their stated purpose for meeting was to help “clear up” any misconceptions that federal agents and the media, which already had received illeg...