Tales from the Boom-Boom Room

Rating:
Summary: A Black Eye for Wall Street
Review: I found it difficult to put this book down, and I would have given it 5 stars if the ending wasn't so weak. The end left me hanging and was a little confusing with all of the names and trials.

That said, I heard of some of the cast of characters in this book. I even worked for the same firm as one of them, and he was an arrogant guy who thinks his you know what doesn't stink.

Some of the stories in here were bizzare and almost all were well documented. Men and women should read this book to learn about Wall Street's dirty little secret. However, I am not convinced that this is a problem unique to Wall Street. I am positive that discrimination is in all industries, and it is not limited to sexual harrassment.

Rating:
Summary: Kind of Relieving but sad
Review: I read this book as I'm very familiar with the Brokerage Industry. I must say, while some of this is appalling, and people should never be treated poorly, it's relieving to know that there is a place where men are (were) still men. Men call each other disparaging remarks, call each other names, basically joke around and take it one step further. Unfortunately, women always want in, and it ends up ruining it for everyone. Any fun or solace we had is gone. It's a shame too, because those same women could have fun too and be "One of the guys" though fear of their lawsuits has now caused even the last bastion of men to fall. Why couldn't you just stick with Dr. Phil and leave us alone. Where can we hide from women and still be ourselves? Is there no place to go?? Even better, why can't those women just join us, rather than fight us! It would seem the last place men can work and have fun, and at the same time have women having fun with them is the Man Show, or the Howard Stern show. I'm sorry that sounds so sad, but it's our truth. Time's have changed, and while our son's will never know it, it's our own fault for caving to their whims, little by little by little. It's a women's world!

Rating:
Summary: Kind of Relieving but sad
Review: I read this book as I'm very familiar with the Brokerage Industry. I must say, while some of this is appalling, and people should never be treated poorly, it's relieving to know that there is a place where men are (were) still men. Men call each other disparaging remarks, call each other names, basically joke around and take it one step further. Unfortunately, women always want in, and it ends up ruining it for everyone. Any fun or solace we had is gone. It's a shame too, because those same women could have fun too and be "One of the guys" though fear of their lawsuits has now caused even the last bastion of men to fall. Why couldn't you just stick with Dr. Phil and leave us alone. Where can we hide from women and still be ourselves? Is there no place to go?? Even better, why can't those women just join us, rather than fight us! It would seem the last place men can work and have fun, and at the same time have women having fun with them is the Man Show, or the Howard Stern show. I'm sorry that sounds so sad, but it's our truth. Time's have changed, and while our son's will never know it, it's our own fault for caving to their whims, little by little by little. It's a women's world!

Rating:
Summary: Good Read
Review: This book should be made into a movie, and I'll be the first in line. It is certain that the movie would be highly "pc" and portray the brokers as heathen cavemen devoid of humanity. The ironic result would be that there would be greater cheers and laughs in the aisles. These brokers were rock stars back in the day with all of their ridiculous antics and pomp. Fans follow rock bands and rap acts around from show to show to try and live vicariously like this.

I was expecting this book to be gossipy along the lines of _Liars_Poker_ or a total harangue like _Predator's_Ball_. This book is neither. It is a very well researched presentation of the brokerage industry in the 80's and early 90's- when it isn't drown in far- out worst case accusations (something has to push the books). Antilla goes over all of the major developments of financial services during the 80's. It was informative to see how some of the particulars of the industry's business and culture have changed.

Especially twisted moments in this book were when the branch manager throws a party on Black Monday, 1987 to celebrate all the commissions generated from nervous customers panic selling. The branch manager then called the local news station to have it televised for posterity. Also, the whole idea of the boom boom room- basically a frat basement with kegs, lined trash cans with bloody mary mix, graffiti, etc.- in an industry that tries to promote a slick professional image is just ridiculous to think of happening in this hyper- sensitive time.

Some will say the behavior was shocking, but let's look at in its context. It was the Reagan 80's, an era with different norms, and it happened close to NYC which has always had raunchier norms. What is shocking in one era, and in one place, is not always shocking in another. That is not to say that the outrageous sexism, racism and raucous behaviour was ok. That is also not to say that some of these events weren't isolated to bad apples and that this kind of thing did not also happen in other industries.

What is SHOCKING is that the sexual predation and untoward behavior still goes on discretely at the top wire houses. It will probably always continue as long as the retail business profits are reliant on the relationship building skills of sales people. Sorry, but sedate school teachers tend to not make it in the business. Mix a lot of ambitious, frequently attractive, overly aggressive and competetive sales people (male and female) that are trying to one- up each other with sexy administrative subordinates and you are certain to have some problems in any era.

Go to virtually any major market branch office of a top wire house and you will see some of the most beautiful young women to be found anywhere on earth (some of the males are model good looking also). These women are mostly administrative personnel (the female brokers are less frequently beautiful) who tend to be looking to latch onto a meal ticket. Search for the summer interns and most of the female ones will be very sexy, outgoing and be paired with an older broker with dubious needs. What is not told in this book is that there are lots of female brokerage employees who are at least as aggressive as the men in pursuing sexual targets (at least in NYC). The female's innuendos and overt flirtations would never be tolerated in this day and age if they came from a guy. What's the big deal; people of both sexes have been attracted to money and the semblance of prestige throughout the ages. Thin skinned people should stay away.