Morgan Stanley, a firm that has always prided itself for delivering top-notch service to a roster of blue-chip clients, is not amused by Mr. Partnoy's kiss-and-tell book. Partnoy has an amazingly dry, amoral, detached style of narration that only adds to the surreal quality of the book. Many institutional investors, and mutual funds, with big investments in Mexico did not fare so well; Morgan Stanley, Mr. Partnoy notes, ''had been among the largest sellers of Mexican derivatives to these funds. It is difficult to predict the future regulation of derivatives markets, especially given that current parameters are largely unknown. Pg 226 Talking about packaging a product for the purpose of creating an illusion of a gain, which happens to create the largest fee's ever ($75 million), "Of the $571 million, the investor immediately realized a huge gain, roughly $400 million." '', That Mr. Partnoy was gainfully, if briefly, employed on Wall Street is beyond dispute. '', And ''the most optimistic voice'' was Robert J. Pelosky, a Morgan Stanley research analyst, ''who wrote in a December report about how a wilderness vacation had convinced him that Mexico was 'compelling' and his 'favorite market.' A very good introduction to derivatives (and even some general finance for novices) and one of the better looks at how degenerate Wall Street culture can be. For the same pay - McDonalds, without a doubt...Shoveling manure or Morgan Stanley? How should risk to human life be included in the jurisprudence of corporate decision-making? It is fundamentally a study in the arrogance and aggression of human nature, driven by greed, ego, and the stupidity of youth. ISDA, NASD, CFMA, and SDNY: The Four Horsemen of Derivatives Regulation? I don't know if Bernanke has read this but it might be a good idea for him. Published by Thriftbooks.com User , 22 years ago. Hello Select your address Prime Day Deals Best Sellers New Releases Books Electronics Customer Service Best Sellers New Releases Books Electronics Customer Service 176 "The involvement of European issuers seemed fitting. A white paper for policy-makers, practitioners, and academics, Business Organization and Finance: Legal and Economic Principles, (Frank Partnoy, John C. Coffee and William A. Klein), The Match King: Ivar Kreuger, The Financial Genius Behind a Century of Wall Street Scandals, Corporations Law and Policy: Materials and Problems, (Frank Partnoy, Jeffrey D. Bauman and Alan R. Palmiter), Infectious Greed: How Deceit and Risk Corrupted the Financial Markets, F.I.A.S.C.O. A while back, I picked up and studied a mathematical book on finance (_Investment Science_, by Luenberger, if you're interested; quite good) that covered pricing, immunization strategies, lattices, the Black-Scholes equation for options valuation, and other aspects of modern finance.