Face-ripping for fun & profit

[Reading Greg Smith’s open resignation letter to Goldman Sachs in today’s New York Times, which described a systematic fleecing of clients as the institutional norm, reminded me of Frank Partnoy’s 1997 book F.I.A.S.C.O. Here’s my review, from LBO #80. If you like it, subscribe today and make sure it keeps coming.] F.I.A.S.C.O., by Frank Partnoy (New York: W W Norton, 252 pp., $25). It might be best to start a consideration of this revealing book from one of its final pages, where Frank Partnoy explains why he decided to end his brief career as a derivatives salesman at our… Read More