Milken on Education

The self-serving and pious column by unrepentant felon Michael Milken (“Technology Married to Learning: a Millennial Wedding,” Commentary, May 11), who tried using UCLA to burnish his sullied reputation, ignores several critical issues for the millennium. While more education is indeed important to maintain America’s position in the world, so too is a firm grounding in ethical behavior, which must be stressed in all courses. Hopefully, the schools can graduate well-educated persons who won’t repeat the mistakes of the ‘80s, a decade of unprecedented financial skulduggery and economic violence against those playing by the rules.

BRUCE V. RORTY

Redondo Beach

As a former member of the UCLA Chancellor’s Committee, and for many years a member of the Dean’s Council working closely with then-Provost Ray Orbach in trying to recruit outstanding faculty to UCLA, I wish to express the disappointment I feel that our UCLA students will be deprived of an extremely rare educational opportunity of learning firsthand about the real world of business and finance from Michael Milken and the outstanding giants of industry that Milken’s class gave the students access to.

The night I was privileged to attend, two very distinguished members of the business school faculty sat with me. I asked why they were there. The first replied that word had spread of Milken’s brilliant prowess as a teacher and a presenter of ideas. The other replied, “Where else would I ever have the opportunity to tap into such an unbelievable reservoir of real world financial knowledge and experience . . . and I got to spend 15 minutes to discuss in depth with Bert Roberts my ideas on the financial future of telecommunications?” (Roberts, chairman of MCI, told how without Milken’s vision and willingness to take a risk, MCI would not exist.)

If such distinguished business school faculty saw this as a rich and extraordinary opportunity, how much more so for students starting out? When I was on the faculty search committee, it was impossible to get faculty of great stature because of the high cost of living in Los Angeles. To have so many of these giants of business available for free was beyond our and Provost Orbach’s wildest dreams. What a tragic loss for UCLA, its faculty, and above all, its students. There’s no way to replace such a valuable resource.

TOM LAUGHLIN

Los Angeles

I have taken the liberty of translating Milken’s commentary into English, for the edification of your readers:

“Hi, I’m Michael Milken, and you’re not. Now that my colleagues and I have diverted this nation’s capital out of production and into speculation, we are in a service economy (information and knowledge-based age), which means most of you will be servants, and will be paid accordingly (widening gap in compensation). But, not to worry. We are developing ways to keep you entertained, especially you youngsters (interactive education products), so you won’t object to being turned into drones (well-trained, responsive graduates). Besides, my colleagues and I recently realized that there are still areas of capital that we have yet to loot (partnerships between education and the private sector). And we will ensure that your attitudes are adjusted, so that if you are still uncomfortable with a dead-end job, you will take it out on another poor person from some other ethnic group (multiculturalism), rather than taking it out on me and my colleagues. Ciao .”

DANIEL PLATT

Los Angeles

Sometimes it is hard to tell the difference between righteousness and self-righteousness. The pressure on Milken and Educational Entertainment Network to rescind their contract with UCLA is a case in point.

Milken and his family have been donors to the UC system for decades. Their foundation has had a longstanding relationship with UCLA’s Medical Center, Graduate School of Education, Law School, and School of Fine Arts. The Times reported over $3.3 million in gifts over the years--much of it prior to Milken’s legal controversy. This recent venture was a natural extension of their prior relationship with UCLA.

As a past president of the UCLA Psychiatric Clinical Faculty Assn., I know only too well that UCLA is facing financial difficulties, and has had to reduce or eliminate many important world-class programs: Public Health and Nursing are two which come to mind. They must look for innovative ways to finance their mission, including cooperation with the business community.

State Sens. Quentin Kopp, Patrick Johnston and others are seeking to establish an extra-judicial sentence on Milken with their Savonarola-like vilification. Milken did not receive a life sentence, nor did Judge Kimba Wood impose a ban on Milken’s creativity, educational television, or the continuation of his long and fruitful teaching and charitable relationship with UCLA.

Milken has led an exemplary life with a sad exception for which he has paid his penalty. He has sought to apply his creativity in an area in which he had been active for many years. His company put up all the risk capital. The university needs the money; the students need the information. Only the self-righteous would seek to deny Milken this opportunity to enhance education, make a financial contribution to the university, and creatively make the next phase of his life a step toward the vision of universal learning we all prize.

STEPHEN S. MARMER MD, Ph.D.

Clinical Faculty, UCLA Department

of Psychiatry