Roy C. Smith
he event will be long re-membered in the history of financial delirium. On the weekend of March 16, 1985, some 2,000 well- heeled "players" began de- scending on the Beverly Hills Hilton for the sixth annual Predators' Ball, sponsored by 38-year-old junk-bond impresario Michael Milken of Drexel Burnham Lambert. The assembled guests included oilman T. Boone Pickens and a growing list of other corporate "raiders," individual investors such as Saul Steinberg, and money...