If you are looking for further evidence of the President’s compassionate nature, common sense and political judgement, try this on: Press Secretary Releases Full List of President Trump’s Pardons and Grants of Clemency. Nor have most of those pardons been to individuals who are still in jail. This one has always felt like a major injustice. The citation makes it even more clear how wrong his conviction was.
Michael Milken, one of America’s greatest financiers, pioneered the use of high-yield bonds in corporate finance. His innovative work greatly expanded access to capital for emerging companies. By enabling smaller players to access the financing they needed to compete, Mr. Milken’s efforts helped create entire industries, such as wireless communications and cable television, and transformed others, like home building. Mr. Milken’s work also democratized corporate finance by providing women and minorities access to capital that would have been unavailable to them otherwise. In 1989, at the height of his finance career, Mr. Milken was charged in an indictment alleging that some of his innovative financing mechanisms were in fact criminal schemes. The charges filed against Mr. Milken were truly novel. In fact, one of the lead prosecutors later admitted that Mr. Milken had been charged with numerous technical offenses and regulatory violations that had never before been charged as crimes. Though he initially vowed to fight the charges, Mr. Milken ultimately pled guilty in exchange for prosecutors dropping criminal charges against his younger brother. As a result, Mr. Milken served 2 years in prison in the early 1990s. Since his release, Mr. Milken has dedicated his life to philanthropy, continuing charitable work that he began before his indictment. Over the years, Mr. Milken—either personally or through foundations he created—has provided hundreds of millions of dollars in critical funding to medical research, education, and disadvantaged children. Mr. Milken’s philanthropy has been particularly influential in the fight against prostate cancer and has been credited with saving many lives. This pardon has widespread and longstanding support, including from the following individuals: Dr. Miriam Adelson, Sheldon Adelson, David Bahnsen, Tom Barrack, Maria Bartiromo, Ron Burkle, Secretary of Transportation Elaine Chao, William Ford, Josh Friedman, Rudy Guiliani, Josh Harris, Rabbi Marvin Hier, Ray Irani, Robert Kraft, Richard LeFrak, Randy Levine, Howard Lorber, Representative Kevin McCarthy, Larry Mizel, Arte Moreno, Rupert Murdoch, Sean Parker, John Paulson, Nelson Peltz, Steven Roth, David Rubenstein, Larry Ruvo, Marc Stern, Steven Tananbaum, Ted Virtue, Andrew von Eschenbach, Mark Weinberger, and Gary Winnick.