Title: Regulations needed
Review: A fascinating and, at times, challenging book, written in the spirit of 'Liar's Poker' but with more detail. Partnoy describes the damaging and borderline criminal practices of derivatives salesmen and the huge investment banks that drive their performance. One would think that the people described in this book couldn't have agreed more with Willie Horton; it's just that poor old down and out Willie was limited to the crude use of a pistol while these well-paid gents had derivatives as their weapons! Indeed, America will likely institute hand-gun control before it passes the necessary laws regulating derivative trading.
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