Ep 6. Legacy of the '80s: Greed Is Still Good

In Empires of New York season 1 episode 6, titled "Legacy of the '80s: Greed Is Still Good," the series explores the lasting impact of the financial excesses from the 1980s on modern day New York City. The episode delves into some of the biggest players from this era, including Michael Milken, Ivan Boesky, and Donald Trump, and how their actions still reverberate through the city today.

Viewers are taken on a journey through the height of the 80s, where the Wall Street scene was dominated by "masters of the universe" who were making millions of dollars every day. Stories of insider trading, hostile takeovers, and corporate raiding were commonplace and celebrated in the media. The episode examines how these figures not only shaped the financial landscape but also the cultural zeitgeist of the time, creating the "greed is good" mentality that has since become synonymous with the era.

As the episode progresses, we see how the fallout from the excesses of the 80s impacted the city in the years that followed. The 90s saw a financial crash that wiped out many of the same individuals who had once been at the top of their game. Companies crumbled, and reputations were ruined as those who had played fast and loose with the rules were exposed. However, the episode also examines how many of these individuals were able to rise again from the ashes, using their knowledge and experience to rebuild their empires in new and innovative ways.

We also see how the 80s legacy has played out in modern-day New York. The city is still home to some of the biggest players in finance, and as we see with the likes of Bill Ackman and Ken Griffin, many are still able to make massive profits in their chosen fields. However, the episode also examines how the city has changed in the decades since the 80s. Today, there is a greater focus on sustainability and responsibility, and the financial world has had to adapt to new regulations and oversight.

Throughout the episode, viewers hear from a range of experts, including financial journalists, historians, and experts in the field. Their insights offer a nuanced and insightful look at the complex legacy of the 80s, delving beyond the surface level to explore the impact of these events on both the city and the wider world. By the end of "Legacy of the '80s: Greed Is Still Good," viewers will have a better understanding of the impact that the financial excesses of the past continue to have on the present.