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F.I.A.S.C.O. : Guns, Booze and Bloodlust - The Truth About High Finance - Softcover

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9781861970770: F.I.A.S.C.O. : Guns, Booze and Bloodlust - The Truth About High Finance

Synopsis

F.I.A.S.C.O. is a ringside seat on the nastiest and most important game being played on Wall Street today: think of derivatives trading as a blood sport, with the unsuspecting consumer as the prey. New chapter with the latest scandals.

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Review

The game of Russian roulette is alive and well and living on Wall Street, where it's known as the derivatives market. In his aptly named book F.I.A.S.C.O., Frank Partnoy, a former derivatives trader at Morgan Stanley, exposes the seamier side of high-stakes finance. Derivatives are securities whose worth is determined by the value of other securities; according to Partnoy, however, the derivatives market is an elaborate illusion performed with smoke and mirrors. In fascinating, frightening detail Partnoy describes several of Morgan Stanley's slick deals that, in his eyes, are just this side of outright fraud. More than just dishonest, the bait-and-switch tactics Wall Street traders employ to rig the markets are downright dangerous, since the massive debt these deals conceal will inevitably come back to haunt the dealmakers.

F.I.A.S.C.O. could be subtitled Portrait of the Trader as a Young Man, for Frank Partnoy is indeed young, and his short tenure on Wall Street left him sadly disillusioned but much wiser. His book will leave you wiser, too--and probably very worried.

About the Author

Frank Partnoy was a derivatives trader on Wall Street, and has been a financial journalist and lawyer. His enormously successful F.I.A.S.C.O., about men behaving badly on Wall Street, was 'gripping, unreal stuff, delivered with wry humour' (Sunday Times)

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  • PublisherProfile Books
  • Publication date1998
  • ISBN 10 1861970773
  • ISBN 13 9781861970770
  • BindingPaperback
  • Edition number2
  • Number of pages256
  • Rating
    • 3.92 out of 5 stars
      2,194 ratings by Goodreads

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Paperback. Condition: Very Good. 'F.I.A.S.C.O. is a ringside seat on the nastiest and most important game being played on Wall Street today. Think of derivatives trading as a blood sport, with the unsuspecting consumer as prey. Read this book, or else.' Michael Lewis, author of Liar's Poker. Derivatives brought down Barings and in America bankrupted Orange County local government. They are a bomb waiting to go off in the rest of the world. As one trader said (in taped court proceedings): 'funny business, you know? Lure people into that calm and then just totally fuck 'em'. The book has been read, but is in excellent condition. Pages are intact and not marred by notes or highlighting. The spine remains undamaged. Seller Inventory # GOR001191473

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