TALES FROM THE BOOM-BOOM ROOM: Women vs. Wall Street

This in-depth investigation of the Smith Barney sex scandal and other discrimination against women on Wall Street in the 1990s is an eye-opener. Bloomberg News columnist Antilla deftly tracks the drama and its legal twists and turns, capturing the different points of view while depicting the main characters convincingly. The effect of the lawsuit against Smith Barney was huge, opening a discussion of how women were treated in this male-dominated industry and eventually leading to a watershed change. Antilla begins with the lurid tales from Smith Barney's Garden City, N.Y., basement party room (the so-called "Boom-Boom Room"), where lap dances took place, managers carried guns and men burped, farted and partied with gusto and apparently little self-control. But stories like these were not limited to this one location. Industrywide, many women told similar, recurring tales of how they were intimidated; harassed with X-rated talk; excluded from business lunches, meetings and golf outings; and how their careers were damaged or stymied in various ways. These women put up with devastating behavior far beyond typical locker-room shenanigans; many quit or considered suicide. From Merrill Lynch to Smith Barney, Olde and others, such behavior finally prompted major lawsuits, leading to arbitration and massive media coverage. Antilla expertly untangles the story's many contrasting sides, creating a compelling and disturbing portrait of an industry and the women who dared to challenge it. Photos. (Nov. 14)

Forecast:Antilla's book will hit a sore spot with many, and its sensitive contents will probably propel plenty of curious Wall Streeters to pick it up.