In Exile on Wall Street, 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.
Bully Market : My Story of Money and Misogyny at Goldman Sachs
Jamie Fiore Higgins
audiobookbookHouse of Cards
William D. Cohan
audiobookThe Zeroes
Randall Lane
audiobookChasing Goldman Sachs
Suzanne McGee
audiobookPanic!: The Story of Modern Financial Insanity
Michael Lewis
audiobookBøddel: Mathias Fliegenring 1685-1729
Torgrim Sørnes
bookDelta Force
Charlie A. Beckwith, Donald Knox
audiobookOndskap - Forbrytelse og straff i Norge på 1800-tallet
Torgrim Sørnes
audiobookWall Street : The Other Las Vegas
Nicolas Darvas
audiobookFool's Gold : How the Bold Dream of a Small Tribe at J.P. Morgan Was Corrupted by Wall Street Greed and Unleashed a Catastrophe
Gillian Tett
bookFool's Gold
Gillian Tett
audiobookReminiscences of a Stock Operator
Edwin Lefevre
audiobookbook