Exile on Wall Street

One Analyst's Fight to Save the Big Banks From Themselves

Mayo, Mike

Book - 2012
Average Rating: 3 stars out of 5.
Exile on Wall Street
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.

Baker & Taylor
A financial analyst specializing in banking recounts the ups and downs of his career due to his frequently negative views of the investment potential of specific banks and the industry itself, and explains why risky behavior persists.

& Taylor

Based upon his professional experience as a banking analyst, the author presents his insights and perspective on the U.S. banking industry throughout the recent global financial crisis.

Publisher: Hoboken, N.J. : John Wiley & Sons, c2012
ISBN: 9781118115466
Characteristics: vi, 202 p. ; 24 cm.


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Aug 30, 2013
  • StarGladiator rated this: 0.5 stars out of 5.

"The crisis didn't occur because of something that banks did. No, it was the natural consequence of the way banks are, even today." I have absolutely no problem in believing this buffoon and clown was at the Federal Reserve, as he is either a complete liar and scoundrel, or the stupidest and most moronic feeble-brain in finance! SImply everything he spews forth is wrong! The removal of legal risk from that financial fraud known as credit derivatives? The insertion of verbiage in the WTO's Financial Services Agreement, forcing all signatory countries to open up their banks to credit derivatives and allowing their banksters to speculate? The creation of the Credit Default Swap (JPMorgan) and variants on the CDO (JPMorgan) and the lobbying on behalf of the destruction of Glass-Steagall (JPMorgan's report, "Glass-Steagall: Overdue for repeal") and the lobbying by the Wall Street investment banks for all this to take place! No accident, from the passage of the Private Securities Litigation Reform Act, to Gramm-Leach-Bliley Act, to the Commodit Futures Modernization Act (the giant loophole of loopholes) and the Telecommunications Act of 1996, allow for the super-concentration of the media so the truth would never be reported. Five Negative Stars for misinformation and disinformation from yet another former Federal Reserve stooge!


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Mayo, Mike
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