Exile on Wall Street: One Analyst's Fight to Save the Big Banks from Themselves

ISBN-13: 9781118115466 / Angielski / Twarda / 2011 / 208 str.

Mike Mayo

Opis

An insider points out the holes that still exist on Wall Street and in the banking system Exile on Wall Street is a gripping read for anyone with an interest in business and finance, U.S. capitalism, the future of banking, and the root causes of the financial meltdown. Award winning, veteran sell side Wall Street analyst Mike Mayo writes about one of the biggest financial and political issues of our time - the role of finance and banks in the US. He has worked at six Wall Street firms, analyzing banks and protesting against bad practices for two decades. In Exile on Wall Street, Mayo:

• Lays out practices that have diminished capitalism and the banking sector
• Shares his battle scars from calling truth to power at some of the largest banks in the world and how he survived challenging the status quo to be credited as one of the few who saw the crisis coming
• Blows the lid off the true inner workings of the big banks and shows the ways in which Wall Street is just as bad today as it was pre-crash.
• Analyzes the fallout stemming from the market crash, pointing out the numerous holes that still exist in the system, and offers practical solutions.

While it provides an education, this is no textbook. It is also an invaluable resource for finance practitioners and citizens alike.

Spis treści

Introduction Watering Down the Wine 1

Chapter 1 God s Work at the Fed 9

Chapter 2 The Big Time or Something Like It 25

Chapter 3 Exile . . . and Redemption 45

Chapter 4 The Professional Gets Personal 67

Chapter 5 The Crisis 81

Chapter 6 The Vortex 97

Chapter 7 Citi, Part I: A Long, Sad Saga 111

Chapter 8 Citi, Part II: The Plot Sickens 131

Chapter 9 A Better Version of Capitalism 145

Chapter 10 The Meaning of Life 165

Acknowledgments 177

About the Author 179

Notes 181

Index 193

O autorze

Mike Mayo is one of the top–ranked banking and finance analysts of the past twenty years. Mayo was the only analyst to testify during Senate Banking Committee hearings in 2002 on conflicts of interest on Wall Street, and in 2010, he testified again, this time as the first analyst to speak on the causes of the crisis. He has worked at Wall Street firms including UBS, Lehman Brothers, Credit Suisse, Prudential Securities, and Deutsche Bank. He currently serves as Managing Director at Credit Agricole Securities, which provides services in the United States for CLSA, a global boutique brokerage firm. In 2008, Fortune named him one of "Eight Who Saw the Crisis Coming."

Blurb

Praise for Exile on Wall Street

"Mike Mayo is an old–style bank analyst thorough, independent, honest who never pulls his punches, whatever icons, public or private, may be wounded."
Paul A. Volcker, former chairman of the Federal Reserve

"Exile on Wall Street takes you to Mike Mayo′s front row seat as the financial crisis unfolds. It is a riveting story of the establishment′s battle to prevent him from revealing the truth as it develops."
Stan Druckenmiller, former President, CEO, and Chairman of Duquesne Capital

"Mike Mayo is one of the best financial analysts on Wall Street. He brings clarity to a world full of uncertainty."
Maria Bartiromo, leading financial commentator

"Exile on Wall Street offers Wall Street′s rarest commodity: the truth about our nation′s largest banks and how they almost toppled capitalism. If you want to know the sickening truth about the largest banks, read Mike Mayo′s exposé."
Harry Markopolos, author of No One Would Listen