Fat Cats... Really?

Observations of a 44-Year Wall Street Executive – Written by Kenneth R. Overman and Published Through Create Space

A decade after the ravages of the Great Recession, many Americans still believe Wall Street caused the economic meltdown ... that so-called “Fat Cats” were to blame. However, in his groundbreaking book Sam Peluso gives the vast majority of the well-meaning Wall Street employees the credit they deserve, and points out the real underlying causes of the debacle.

For 44 years with Merrill Lynch, Sam thrived through the often unpredictable currents of economic booms and busts. Whether on the frenetic government trading floor of Manhattan or traveling throughout the nation giving financial seminars, Sam placed both trade excellence and professional relationships before gain. His reputation as a successful trader, new product developer, valued mentor, coach, risk manager, and billion-dollar hedge guru, always preceded him. In short, “The Street” is in Sam’s DNA. With that kind of background, readers can trust Sam’s assertion that hard working Street people were not the Fat Cats that caused the recession. To the contrary, the blame rests on the broad, pervasive culture of the day.

 The reader will also witness some of Wall Street’s historic moments including the loss of friends in the 9/11 tragedy, and Sam’s direct involvement with Michael Bloomberg’s new computer trading system. It all began on Sam’s trading desk where Mike and his team spent several months with Sam who insured the Bloomberg system was effective.

 After reading this, your faith in Wall Street people and in our country’s economic future just might be restored.