The Orange County bankruptcy. The fall of Barings Bank. Shocking losses at Procter & Gamble, Dell Computer, and Gibson Greetings. The Mexican peso crisis. What did all these disasters have in common? A class of financial instruments known as derivatives -- the most dangerous (and profitable) products ever devised on Wall Street. In FIASCO, a former derivatives salesman takes readers onto the trading floor of a leading investment bank -- and in a tell-all, no-holds-barred expos, reveals for the first time the ugly truth about these complex financial products and the people who peddle them. Writing with the same eye for telling details as Michael Lewis in Liar's Poker, Frank Partnoy shows how the once genteel world of investment banking has now become a place where the rallying cry is "There's blood in the water. Let's go kill someone." Partnoy was in his late twenties when he landed the...
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