An insider points out the holes that still exist on Wall Street and in the banking system. Exile on Wall Street is a gripping listen 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:
While it provides an education, this is no textbook. It is an invaluable resource for finance practitioners and citizens alike.
©2011 Mike Mayo (P)2011 Audible, Inc.
"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)
"Mike Mayo is one of the best financial analysts on Wall Street. He brings clarity to a world full of uncertainty." Maria Bartiromo, host of The Wall Street Journal Report.
This is the first audiobook (of dozens) I have bailed out on, mid-book. I expected to hear something useful about the craft of analyzing banks, the dynamics of their business situations, etc. About halfway through, what I HAVE heard is endless recitations of the author's resentments, outsider complex, self-justifications, and petty career moves. I KNOW many bank execs are willing to bend the truth as far as they feel they can get away with, in pursuit of their bonuses. So far I haven't heard one new bit of information. The worst business books drone on like extended resumes, and this is one of them. Assuming the content is true, I can respect the author as an honest guy with some backbone. That doesn't make him a good writer, storyteller or explainer. The narrator is good, at least.
Good luck Mike but I don't think you will bring down the bad guys.
This was an easy listen and a great way to get some historical perspective and background on the banking crisis.
"Okay, now I have a better sense of how the huge mess happened, and also why we have not really begun to clean it up yet."
The narrator was easy to follow; it's very easy to listen to this book.
Still Standing: Mike Mayo Survives Banks and Vampire Squid Attacks
Useful background in a coming-of-age context. Mayo's personal history merged with the sense of America in the 1980s and 1990s, explaining changes in banking and finance that happened during that period. Mayo comes across as a guy who honestly cared about the investors he was supposed to be advising.
Mike Mayo shows why it is so hard to trust Wall Street. He shows that if you want to tell it like it is, you have to be willing to pay for brutal honesty with your job. Highly recommend this book for any investor.
It's great reading about old ethics and principals instilled in some of us. I can only hope more WS people learn this lesson.
It was a great story especially if you are a trader and happen to like this stuff.
The insider view of individual companies and executives, how they engaged in self-destructive behavior, and excellent communication skills of Mr. Mayo make this book enjoyable listening.
The bank analyst's viewpoint.
He has an engaging voice that captures and conveys the story's energy.
It is a short listen.
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