FIASCO: Blood in the Water on Wall Street

By: Frank Partnoy

Published April 6th 2009 by W. W. Norton & Company (first published 1997)

Category: Business

Pages: 271 pages

ISBN: 9780393336818

Description:
A classic of its kind, Frank PartnoyÕs best-selling FIASCO takes readers inside the rollicking world of derivatives on Wall Street during the mid-1990s. The book tracks PartnoyÕs success as a young Morgan Stanley employee who quickly becomes steeped in a culture that treats client as targets to be Òblown upÓ or have their faces Òripped off.Ó A decade later FIASCO remains one of the most damning and prescient pictures of the speculative frenzies that grip Wall Street and the victims they can leave in their wake. In PartnoyÕs case they include well-publicized losses at Orange County, Barings, and Procter Gamble, among others. A new epilogue written for this edition brings PartnoyÕs storyÑas well as the story of derivativesÑup to the present.