Blood in the Water on Wall Street
W. W. Norton & Company, Paperback, 9780393336818, 271pp.
Publication Date: April 6, 2009
A classic of its kind, Frank Partnoy's best-selling FIASCO takes readers inside the rollicking world of derivatives on Wall Street during the mid-1990s. The book tracks Partnoy's success as a young Morgan Stanley employee who quickly becomes steeped in a culture that treats client as targets to be blown up or have their faces ripped off. 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 Partnoy's case they include well-publicized losses at Orange County, Barings, and Procter & Gamble, among others. A new epilogue written for this edition brings Partnoy's story as well as the story of derivatives up to the present.
About the Author
Frank Partnoy is currently a professor at the University of San Diego Law School. He has worked as an investment banker, derivatives broker, and corporate securities attorney. He also consults on regulation of the markets and white-collar crime. His expert testimony before the Senate committee investigating the Enron collapse has been widely cited in the media. Partnoy is the author of "F.I.A.S.C.O.: Blood in the Water on Wall Street". He lives in San Diego, California.