Rise of the High-Yield Bond Market in the U.S., 1977–1990

1. Bear Stearns helps reopen the new-issue junk market

   Jan 1, 1977Labels: Bear Stearns, New-issue junk

   • Econlib

2. Drexel backs Texas International’s high-yield debut

   Apr 1, 1977Labels: Drexel Burnham, Texas International

   • Washington Post
   • IFR

3. Revenue Act of 1978 expands tax-advantaged saving tools

   Nov 6, 1978Labels: Revenue Act, 401 k

   • Congress gov
   • Revenue Act

4. DIDMCA deregulates depository institutions amid high rates

   Mar 31, 1980Labels: DIDMCA, Depository deregulation

   • Fed Statutes
   • Fed History

5. Garn–St. Germain Act accelerates thrift deregulation

   Oct 15, 1982Labels: Garn St, Thrifts

   • Garn St Germain
   • FDIC S L

6. High-yield bonds grow into a large share of issuance

   Jan 1, 1983Labels: High-yield bonds, Corporate issuance

   • Econlib

7. Tax Reform Act of 1986 targets shelters and consumer interest

   Oct 22, 1986Labels: Tax Reform, Tax policy

   • Britannica
   • Reagan Library

8. Ivan Boesky pleads guilty, intensifying Wall Street scrutiny

   Nov 14, 1986Labels: Ivan Boesky, Insider trading

   • Fortune
   • AP News

9. KKR completes the RJR Nabisco leveraged buyout

   Feb 9, 1989Labels: KKR, RJR Nabisco

   • Washington Post
   • IFR

10. FIRREA reshapes post-crisis regulation for thrifts

    Aug 9, 1989Labels: FIRREA, Resolution Trust

    • FIRREA
    • FDIC S L

11. Drexel enters a criminal plea and pays record fine

    Sep 11, 1989Labels: Drexel Burnham, Criminal plea

    • Drexel DBL
    • Los Angeles Times

12. Drexel files for Chapter 11 bankruptcy protection

    Feb 13, 1990Labels: Drexel bankruptcy, Chapter 11

    • UPI
    • UPI

13. Michael Milken pleads guilty to felony violations

    Apr 24, 1990Labels: Michael Milken, Felony plea

    • UPI
    • Justia