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

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

Forfatter
Mike Mayo
Beskrivelse

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 supporting 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.

Lyt gratis
via Mofibo (45 dage Gratis)
Ingen binding på abonnement, 60 dages gratis prøveperiode, kompatibel med Sonos – Danmarks største udvalg af lyd og e-bøger.
Her kan du streame og lytte til bogen
Lydbogstjenester:
Mofibo
Gratis prøveperiode
45 dage
Abonnement:
129 kr./mdr.
Lydbogsbibliotek:
+ 300.0000
★★★★★
★★★★★
(4/5 baseret på 306 anmeldelser)
45 dage gratis prøveperiode for nye brugere
Lignende bøger:
For a Good Paws
Af Linda O. Johnston
All For One!
Af Jerry Robbins
Lydbogstjenester
Information
Social