2015 Event After a credit rating downgrade to 'junk' by Standard & Poor's, Brazil implements a $17 billion austerity package that will eliminate ten government ministries, cut public spending, and halt both hiring and salary increases in the public sector 2011 Event According to Moody's, Ireland's debt rating has been reduced to 'junk' status 1993 Event Junk bond king Michael Milkin is released from jail after 22 months 1989 Event Michael Milken, junk bond king, indicted in New York for racketeering 1976 Event Larry Groce's "Junk Food Junkie" peaks at #9
