Wait is a phrase that you will often hear a parent use when dealing with a small child. I know I have used is often enough myself. In these days of faster communications, instant messages, 24 hour email and the pressure to make instantaneous choices, Partnoy wants us to think slower, to take time...
Took me a while to read this one, but ended up really enjoying it for what it is: an extremely detailed and well-researched history of the use of financial derivatives from the 1980's through the collapse of Enron, WorldCom and Global Crossing in 2000/01. Of course, the story of the book continu...
In 1986, it lost $100 million trading government bonds. In 1987, it lost $60 million trading stocks. In 1988, it lost Bruce Wasserstein and Joseph Perella, the co-heads of its lucrative mergers-and-acquisitions group. In 1989, it lost $1 billion on loans to companies involved in takeovers.1 In on...