Brian's Reviews > FIASCO: Blood in the Water on Wall Street: Blood in the Water on Wall Street

FIASCO by Frank Partnoy
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Mar 16, 11

bookshelves: financial-crisis-2008-must-reads, awesome-narrative-non-fiction
Read in June, 2009

Both sides of the 'creative' derivatives transactions are shocking

derivatives trader for Morgan Stanley in the 90s, with some updates from the recent financial crisis. So eye-opening, frightening and entertaining at the same time. Makes the clients (often huge companies, municipalities, pension funds) look like fools for being suckered into these derivatives deals where the ratings agencies were coerced/manipulated into investment-grade ratings when the entire investment could be at risk even if the original products' sellers do not default.
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