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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 M***an 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 ***ing and prescient pictures of the speculative frenzies that grip Wall Street and the victims they can leave in thei***ake. In Partnoy's case they include well-publicized losses at Orange County, Barings, and Procter and 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.

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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 M***an 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 ***ing and prescient pictures of the speculative frenzies that grip Wall Street and the victims they can leave in thei***ake. In Partnoy's case they include well-publicized losses at Orange County, Barings, and Procter and 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.