Sad to report.
Robert E. Linton, a prominent Wall Street executive who led the swashbuckling investment bank Drexel Burnham Lambert in the years before it imploded in scandal but who was largely untainted himself, died on Tuesday in Manhattan. He was 90.
The New York Times reports that the cause was heart failure, his son Jeffrey said.
During his tenure atop Drexel in the early 1980s, Mr. Linton oversaw the firm’s rapid expansion into one of the nation’s biggest — and most profitable — investment banks. At its height, Drexel pioneered the junk bond industry and came to symbolize the 1980s “greed is good” mentality on Wall Street, inspiring movies and books that detailed the risk-taking of that era.
Eventually, however, the federal authorities suspected that something worse than greed was afoot.
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