Near Wall Street, a protestor wears a dollar bill covering his mouth and
carries a sign reading “I could lose my job for having a voice.” Award
winning, veteran sell side Wall Street analyst Mike Mayo has, and is in
a unique position to write about one of the biggest financial and
political issues of our time – the role of finance and banks in our
country.
No third party observer, Mayo has his share of battle scars from calling
truth to power at some of the largest banks in the world. In EXILE ON
WALL STREET: One Analyst’s Fight to Save the Big Banks from
Themselves (Wiley; November, 2011; hardcover and e-book), he lays
out practices that have diminished capitalism and the banking sector,
and shares how he survived challenging the status quo to be credited as
one of the few who saw the crisis coming. He has worked at six Wall
Street firms, analyzing banks and protesting against bad practices for
two decades.
EXILE ON WALL STREET 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. Mayo analyzes the fallout stemming from the
market crash, pointing out the numerous holes that still exist in the
system, and offers practical solutions. His analysis and his book are
reported in his trademark fearlessness and candor.
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. While it
provides an education, this is no textbook. It is also an invaluable
resource for finance practitioners and citizens alike.
About the Author
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 the
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 Credit Suisse, Deutsche Bank, Lehman Brothers,
Prudential Securities and UBS. He currently serves as Managing Director
at Credit Agricole Securities (USA) Inc, which provides services in the
United States for CLSA, an independent global brokerage. In 2008,
Fortune named him one of “Eight Who Saw the Crisis Coming.”
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 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
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