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Good Condition. The book is in good condition overall, but the dust jacket is slightly creased and the pages have somewhat yellowed. The still-developing financial story is terrifying. One by one, major corporations such as Enron, Global Crossing, and Worldcom have imploded, prey to a greed-driven culture and dubious or illegal corporate finance and accounting. Stockmarkets have plunged. Confidence in corporate accounts and standards of behaviour have fallen dramatically. The global financial system has suddenly reached a perilous crossroads. In a compelling and disturbing narrative, Frank Partnoy brings to bear all of his skill and experience as a securities attorney, financial analyst, law professor, and best selling author to tell the story of the rise of the trading instruments and corporate financial structures that now imperil the global economy and have already brought the US low. Starting in the mid-1980s with the introduction of the first proto-derivatives, and taking us through such high-profile disasters as Barings Bank and Long Term Capital Management, Partnoy traces a seamless progression to the dangerous manipulations that have and continue to come to light. He documents how each new level of financial risk and complexity obscured the sickness of the company in question, and required ever more ingenious deceptions. The story becomes more alarming with each passing day, but mercifully Partnoy offers a clear vision of the route back from the precipice.

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