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In The Games that Bankers Play, star banking analyst Mike Mayo reveals for the first time the dirty details of his ongoing battle with Wall Street firms to come clean and proves that all the factors leading to the financial crisis — dodgy accounting, the separation of risk from reward, outsized executive pay — are still happening. From Citigroup announcing in July 2010 that it would increase its assets by 5 percent (which Mayo deemed near impossible) to being banned from speaking to media by Deutsche Bank in 2008 for his negative view of the banking sector, Mayo provides a glimpse into the true inner workings of Wall Street firms and claims it's just as bad today as it was pre-crash. He analyzes the regulation and fallout stemming from the crash and points out the holes that still exist in the system, particularly pertaining to the relationships analysts have with the companies they cover. In addition to outlining what he sees happening today on the Street, Mayo chronicles some of his most outrageous adventures: being escorted out of the building from Lehman in the 90s after giving notice (Mayo didn't understand that his analysis came second to supporing the firm's investment bankers and their deals); being let go from Credit Suisse after Mayo put a sell rating on the entire banking sector in May 1999; and being named the "CEO-killer" for asking CEOs if it was time they were replaced. To wrap up the book Mayo provides a solution to Wall Street's messy antics in his "ABC" system; "A" stands for better Accounting practices, "B" stands for Bankruptcy and allowing banks to fail when they can't cut it, and "C" stands for Capital, meaning companies should be required to keep more of their assets in reserve, reducing their overall leverage and giving them more of a cushion if (and when) their bets turn bad.
Review:
"'The crisis didn't occur because of something that banks did. No, it was the natural consequence of the way banks are, even today.' Financial analyst Mayo has had experience with many of the big names in banking, so it would seem prudent to heed this claim. In an attempt to shed light on what led to the financial crisis and how we can avoid another one, Mayo uses his life and career in the financial sector as a guide, beginning his account in the late 1980s with the S&L crisis and his years at the Federal Reserve. Later, he would work for UBS, Lehman Brothers, Credit Suisse, and Prudential, gaining a reputation for good work and tough, but accurate, calls. Mayo discusses the mortgage crisis and the unintended effects of subprime loans, the Lehman collapse, regulators, and the entire history of Citi, including its role in the 1929 stock market crash. Rather than simply calling foul, Mayo offers his vision for an improved version of capitalism with better systems of accounting and none of the 'financial shenanigans' that have plagued the industry and weakened the economy. However, he still thinks someone should take the blame: 'failure needs to carry consequences, and those consequences should be steep.' Agent: David McCormick, McCormick & Williams (Nov.)" Publishers Weekly Copyright PWxyz, LLC. All rights reserved.
Synopsis:
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.
Synopsis:
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."
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."
oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner workings of W
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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Business-Banking
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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federal reserve, ben bernanke, wall street bail out, bank bail out, federal reserve, executive compensation, Paul Volcker, financial crisis, great recession, wall street criminals, cause of financial crisis, mortgage bubble
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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y council, senate banking committee, house banking committee, new york federal reserve, ben bernanke, wall street bail out, bank bail out, federal reserve, executive compensation, Paul Volcker, financial crisis, great recession, wall street criminals, cau
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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ependent research, CLSA, sell side analysts, sell side research, analyst conflict, wall street settlement, ethics, speaking truth to power, bank regulators, FCIC, financial crisis inquiry council, senate banking committee, house banking committee, new yor
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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sation, Paul Volcker, financial crisis, great recession, wall street criminals, cause of financial crisis, mortgage bubble
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
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oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
Subject:
oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
Subject:
oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
Subject:
oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
Subject:
oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
Subject:
reserve, ben bernanke, wall street bail out, bank bail out, federal reserve, executive compensation, Paul Volcker, financial crisis, great recession, wall street criminals, cause of financial crisis, mortgage bubble
Subject:
oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
Subject:
oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
Subject:
oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
Subject:
oversight for banking industry, exile on wall street, Mike Mayo, factors leading to the financial crisis, dodgy accounting, the separation of risk from reward, outsized executive pay and banking, Mike Mayo and citigroup, Mike Mayo and deutsche bank, inner
Exile on Wall Street: One Analyst's Fight to Save the Big Banks from Themselves
Used Hardcover
Mike Mayo
0 stars -
0 reviews
$22.00
In Stock
Product details
208 pages
John Wiley & Sons -
English9781118115466
Reviews:
"Publishers Weekly Review"
by Publishers Weekly,
"'The crisis didn't occur because of something that banks did. No, it was the natural consequence of the way banks are, even today.' Financial analyst Mayo has had experience with many of the big names in banking, so it would seem prudent to heed this claim. In an attempt to shed light on what led to the financial crisis and how we can avoid another one, Mayo uses his life and career in the financial sector as a guide, beginning his account in the late 1980s with the S&L crisis and his years at the Federal Reserve. Later, he would work for UBS, Lehman Brothers, Credit Suisse, and Prudential, gaining a reputation for good work and tough, but accurate, calls. Mayo discusses the mortgage crisis and the unintended effects of subprime loans, the Lehman collapse, regulators, and the entire history of Citi, including its role in the 1929 stock market crash. Rather than simply calling foul, Mayo offers his vision for an improved version of capitalism with better systems of accounting and none of the 'financial shenanigans' that have plagued the industry and weakened the economy. However, he still thinks someone should take the blame: 'failure needs to carry consequences, and those consequences should be steep.' Agent: David McCormick, McCormick & Williams (Nov.)" Publishers Weekly Copyright PWxyz, LLC. All rights reserved.
"Synopsis"
by Wiley,
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.
"Synopsis"
by Wiley,
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."
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