--- title: "Meaning & Key Takeaway of: We began the show by asking: Who did more…" description: "\"“We began the show by asking: Who did more for the world, Michael Milken or Mother Teresa? This seems like a no-brainer. Milken is the greedy junk-bond..." image: "https://sms4smile.com/quotes/i/89a/john-stossel-5146_generosity_we-began-the-show-by-asking-who-did-more_964835.jpg" --- # We began the show by asking: Who did more for the world… ![“We began the show by asking: Who did more for the world, Michael Milken or Mother Teresa? This seems like a no-brainer. Milken is the greedy junk-bond king. One year, his firm paid him $550 million. Then he went to jail for breaking securities laws. Mother Teresa is the nun who spent her lifetime…” quote by John Stossel](https://sms4smile.com/quotes/i/89a/john-stossel-5146_generosity_we-began-the-show-by-asking-who-did-more_964835.jpg) [Download](https://sms4smile.com/quotes/i/89a/john-stossel-5146_generosity_we-began-the-show-by-asking-who-did-more_964835.jpg) [Open image](https://sms4smile.com/quotes/i/89a/john-stossel-5146_generosity_we-began-the-show-by-asking-who-did-more_964835.jpg) > ““We began the show by asking: Who did more for the world, Michael Milken or Mother Teresa? This seems like a no-brainer. Milken is the greedy junk-bond king. One year, his firm paid him $550 million. Then he went to jail for breaking securities laws. Mother Teresa is the nun who spent her lifetime helping the poor and died without a penny. Her good deeds live on even after her death; several thousand sisters now continue the charities she began. At first glance, of course Mother Teresa did more for the world. But it's not so simple. Milken's selfish pursuit of profit helped a lot of people, too. Think about it: By pioneering a new way for companies to raise money, Milken created millions of jobs. The ignorant media sneered at 'junk bonds', but Milken's innovative use of them meant exciting new ideas flourished. We now make calls on a national cellular network established by a company called McCaw Cellular, which Milken financed. And our calls are cheaper because Milken's junk bonds financed MCI. CEO Bill McGowan simply couldn't get the money anywhere else. Without Milken, MCI wouldn't have grown from 11 to 50,000 employees. CNN's 24-hour news and Ted Turner's other left-wing ventures were made possible by Milken's 'junk'. The world's biggest toy company, Mattel, the cosmetics company Revlon, and the supermarket giant Safeway were among many rescued from bankruptcy by Milken's junk bonds. He financed more than 3,000 companies, including what are now Barnes & Noble, AOL Time Warner, Comcast, Mellon Bank, Occidental Petroleum, Jeep Eagle, Calvin Klein, Hasbro, Days Inn, 7-Eleven, and Computer Associates. Millions of people have productive employment today because of Michael Milken. (Millions of jobs is hard to believe, and when 'Greed' aired, I just said he created thousands of jobs; but later I met Milken, and he was annoyed with me because he claimed he'd created millions of jobs. I asked him to document that, to name the companies and the jobs, and he did.)”” [John Stossel](https://sms4smile.com/quotes/author/john-stossel/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. The quote contrasts the perceived moral impact of Mother Teresa’s charitable work with Michael Milken’s economic contributions, arguing that financial innovation can also yield massive societal benefits despite ethical concerns. **In simple terms:** Both helped the world, one through charity, the other through finance. Key Takeaway Recognize that impact can come from diverse, unexpected sources. Themes ethics economics impact legacy innovation Mood thoughtful analytical Type controversial informative When to use this quote - business analysis - policy debate - education - media commentary Key Concepts social finance public perception moral complexity Questions to Reflect On - What defines true contribution to society? - How should we weigh ethical lapses against economic benefits? A Different Perspective Milken’s methods involved illegal activity and caused financial instability for some firms. ★ ★ ★ ★ ★ No ratings yet [Generosity](https://sms4smile.com/quotes/about/generosity/) [Good deeds](https://sms4smile.com/quotes/about/good-deeds/) [Helping The Poor](https://sms4smile.com/quotes/about/helping-the-poor/) [Money](https://sms4smile.com/quotes/about/money/) ## Related quotes > [I've been able to dine with presidents, with leaders of corporations, traveled for 14 years with (financier and philanthropist) Michael Milken, who has taught…](https://sms4smile.com/quotes/tommy-lasorda/i-ve-been-able-to-dine-with-presidents-with-leaders-of-corporations/) [Tommy Lasorda](https://sms4smile.com/quotes/author/tommy-lasorda/) > [At first glance, Martha Stewart, queen of artfully distressed home furnishings, might not seem to have much in common with Michael R. 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I have sailed the ocean with Ted Turner. I have swam the oceans in the Caribbean.](https://sms4smile.com/quotes/craig-sager/i-have-wrestled-gators-in-florida-i-have-sailed-the-ocean-with-ted/) [Craig Sager](https://sms4smile.com/quotes/author/craig-sager/) > [Ted Turner sailed into the meeting, and I mean sailed. He holds himself as if he were at the helm of his sailboat, in…](https://sms4smile.com/quotes/joseph-barbera/ted-turner-sailed-into-the-meeting-and-i-mean-sailed-he-holds-himself/) [Joseph Barbera](https://sms4smile.com/quotes/author/joseph-barbera/) > [Shortly after I turned 50, both Ted Turner and the AARP came into my life. The only difference? With AARP, there were benefits.](https://sms4smile.com/quotes/jane-fonda/shortly-after-i-turned-50-both-ted-turner-and-the-aarp-came-into-my/) [Jane Fonda](https://sms4smile.com/quotes/author/jane-fonda/) ## More by John Stossel > [Fraud will always exist. 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I've discovered, from 40 years of reporting, that what creates prosperity is limited government.](https://sms4smile.com/quotes/john-stossel/i-m-an-american-i-m-for-prosperity-i-ve-discovered-from-40-years-of/) [John Stossel](https://sms4smile.com/quotes/author/john-stossel/) > [“Cornelius Vanderbilt and his fellow tycoon John D. Rockefeller were often called 'robber barons'. 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Instead of spending a dollar to help feed hungry children, why not spend that dollar…](https://sms4smile.com/quotes/zach-braff/the-greatest-charity-you-can-contribute-to-is-yourself-instead-of/) [Zach Braff](https://sms4smile.com/quotes/author/zach-braff/) > [In this choice of inheritance we have given to our frame of polity the image of a relation in blood; binding up the constitution…](https://sms4smile.com/quotes/edmund-burke/in-this-choice-of-inheritance-we-have-given-to-our-frame-of-polity/) [Edmund Burke](https://sms4smile.com/quotes/author/edmund-burke/) > [I would have none of that rigid circumspect charity which is never done without scrutiny, and which always mistrusts the truth of the necessities…](https://sms4smile.com/quotes/jean-baptiste-massillon/i-would-have-none-of-that-rigid-circumspect-charity-which-is-never/) [Jean Baptiste Massillon](https://sms4smile.com/quotes/author/jean-baptiste-massillon/) > [I'm publicist, patron of nine charities, creative director, food consultant, recipe developer - and mum.](https://sms4smile.com/quotes/jack-monroe/i-m-publicist-patron-of-nine-charities-creative-director-food/) [Jack Monroe](https://sms4smile.com/quotes/author/jack-monroe/) > [The next time you're looking at a charity, don't ask about the rate of their overhead. Ask about the scale of their dreams.](https://sms4smile.com/quotes/anonymous/the-next-time-you-re-looking-at-a-charity-don-t-ask-about-the-rate-of/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [Businesses acting as businesses, not as charitable donors, are the most powerful force for addressing the pressing issues society face(s)](https://sms4smile.com/quotes/tony-elumelu/businesses-acting-as-businesses-not-as-charitable-donors-are-the-most/) Tony Elumelu > [Both fact and logic seem to me to support the view that savings invested in privately owned economic tools of production amount to an…](https://sms4smile.com/quotes/f-a-harper/both-fact-and-logic-seem-to-me-to-support-the-view-that-savings/) F. A. Harper > [Capitalists have done more good for society through their charitable giving, philanthropy and generosity than all their critics combined.](https://sms4smile.com/quotes/james-cook/capitalists-have-done-more-good-for-society-through-their-charitable/) [James Cook](https://sms4smile.com/quotes/author/james-cook/) > [I think more and more people are becoming much more sensitive to what they do with their money when they die, especially if they…](https://sms4smile.com/quotes/angela-rippon/i-think-more-and-more-people-are-becoming-much-more-sensitive-to-what/) [Angela Rippon](https://sms4smile.com/quotes/author/angela-rippon/) > [Children must early learn the the beauty of generosity. They are taught to give what they prize most, that they may taste the happiness…](https://sms4smile.com/quotes/anonymous/children-must-early-learn-the-the-beauty-of-generosity-they-are/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [(I)f we are going to be kind, let it be out of simple generosity, not because we fear guilt or retribution.](https://sms4smile.com/quotes/anonymous/i-f-we-are-going-to-be-kind-let-it-be-out-of-simple-generosity-not/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [I was always clear that I didn't want to just do pure charity. My thinking was definitely about looking at the levers in society…](https://sms4smile.com/quotes/rohini-nilekani/i-was-always-clear-that-i-didn-t-want-to-just-do-pure-charity-my/) [Rohini Nilekani](https://sms4smile.com/quotes/author/rohini-nilekani/) > [Love doesnt stake claims. It is free for the giving](https://sms4smile.com/quotes/melody-minagar/love-doesnt-stake-claims-it-is-free-for-the-giving/) [Melody Minagar](https://sms4smile.com/quotes/author/melody-minagar/) > [“THE UNFORGIVEN Tell me if you've ever had to deal with these kinds of people: The kind who take and don't give. The kind…](https://sms4smile.com/quotes/suzy-kassem/the-unforgiven-tell-me-if-you-ve-ever-had-to-deal-with-these-kinds-of/) [Suzy Kassem](https://sms4smile.com/quotes/author/suzy-kassem/) > [“Secure-attachment 7Rs show more generosity than average. Thus 7R has something to do with generosity—but its effect is entirely context dependent.”](https://sms4smile.com/quotes/robert-m-sapolsky/secure-attachment-7rs-show-more-generosity-than-average-thus-7r-has/) [Robert M. Sapolsky](https://sms4smile.com/quotes/author/robert-m-sapolsky/) [Browse all 3,867 Generosity quotes ](https://sms4smile.com/quotes/about/generosity/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "“We began the show by asking: Who did more for the world, Michael Milken or Mother Teresa? This seems like a no-brainer. Milken is the greedy junk-bond king. One year, his firm paid him $550 million. Then he went to jail for breaking securities laws. Mother Teresa is the nun who spent her lifetime helping the poor and died without a penny. Her good deeds live on even after her death; several thousand sisters now continue the charities she began. At first glance, of course Mother Teresa did more for the world. But it's not so simple. Milken's selfish pursuit of profit helped a lot of people, too. Think about it: By pioneering a new way for companies to raise money, Milken created millions of jobs. The ignorant media sneered at 'junk bonds', but Milken's innovative use of them meant exciting new ideas flourished. We now make calls on a national cellular network established by a company called McCaw Cellular, which Milken financed. And our calls are cheaper because Milken's junk bonds financed MCI. CEO Bill McGowan simply couldn't get the money anywhere else. Without Milken, MCI wouldn't have grown from 11 to 50,000 employees. CNN's 24-hour news and Ted Turner's other left-wing ventures were made possible by Milken's 'junk'. The world's biggest toy company, Mattel, the cosmetics company Revlon, and the supermarket giant Safeway were among many rescued from bankruptcy by Milken's junk bonds. He financed more than 3,000 companies, including what are now Barnes & Noble, AOL Time Warner, Comcast, Mellon Bank, Occidental Petroleum, Jeep Eagle, Calvin Klein, Hasbro, Days Inn, 7-Eleven, and Computer Associates. Millions of people have productive employment today because of Michael Milken. (Millions of jobs is hard to believe, and when 'Greed' aired, I just said he created thousands of jobs; but later I met Milken, and he was annoyed with me because he claimed he'd created millions of jobs. 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