Editing Michael Milken (section)

==Early life and education==

Milken was born into a middle-class<ref>Roger E. Alcaly, [http://www.nybooks.com/articles/archives/1994/may/26/the-golden-age-of-junk/?pagination=false "The Golden Age of Junk"] {{Webarchive|url=https://web.archive.org/web/20131210231649/http://www.nybooks.com/articles/archives/1994/may/26/the-golden-age-of-junk/?pagination=false |date=December 10, 2013 }}, ''New York Review of Books'', May 26, 1994.</ref><ref name=LATimesLargess>James F. Peltz, [https://www.latimes.com/archives/la-xpm-1992-09-15-fi-928-story.html "Milken's Largess Slows Down: Donations: The junk bond king's charitable trusts have virtually stopped growing since his 1989 federal indictment"], ''Los Angeles Times'', September 15, 1992.</ref> [[Jewish]] family in [[Encino, California]].<ref>''America in the 20th Century'': 1980-1989, pg. 1200</ref>

He graduated from [[Birmingham High School]] where he was the head cheerleader and worked while in school at a diner.<ref>Edward Jay Epstein [http://www.edwardjayepstein.com/archived/milken.htm MANHATTAN, INC: "The Secret World of Mike Milken"] {{Webarchive|url=https://web.archive.org/web/20130222123129/http://www.edwardjayepstein.com/archived/milken.htm |date=February 22, 2013 }}, September 1987.</ref> His classmates included future [[The Walt Disney Company|Disney]] president [[Michael Ovitz]]<ref name="SecretAgent.NYT">{{cite news
  |url=https://www.nytimes.com/1989/07/09/magazine/hollywood-s-most-secret-agent.html
  |title=Hollywood's Most Secret Agent
  |first=L. J. 
  |last=Davis
  |date=July 9, 1989
  |work=[[The New York Times]]
  |access-date=2025-01-22
  |issn=0362-4331
  |archive-date=April 14, 2019
  |archive-url=https://web.archive.org/web/20190414000022/https://www.nytimes.com/1989/07/09/magazine/hollywood-s-most-secret-agent.html
  |url-status=live
   }}</ref> and actresses [[Sally Field]] and [[Cindy Williams]]. In 1968, he graduated from the [[University of California, Berkeley]] with a [[B.S.]] with highest honors. He was elected to [[Phi Beta Kappa]] and was a member of the [[Sigma Alpha Mu]] fraternity.<ref>{{Cite web|url=http://www.calgreeks.com/chapters/ifc/sigma_alpha_mu.html|archiveurl=https://web.archive.org/web/20071119004948/http://www.calgreeks.com/chapters/ifc/sigma_alpha_mu.html|title=UC Berkeley Inter-Fraternity Council: Sigma Alpha Mu|archivedate=November 19, 2007}}</ref> He received his MBA from the [[Wharton School]] of the [[University of Pennsylvania]]. While at Berkeley, Milken was influenced by credit studies authored by [[W. Braddock Hickman]], a former president of the [[Federal Reserve Bank of Cleveland]], who noted that a portfolio of non-investment grade bonds offered "risk-adjusted" returns greater than that of an [[investment-grade]] portfolio.