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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.

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Jul 03, Peggy rated it really liked it. I learned a lot. Very interesting story and hope MM is successful in trying to keep the banks transparent and forthcoming. Securities analyst Mike Mayo recaps his career on Wall Street, where he covered the banking industry. Mayo outlines where the banks went wrong during the course of his career and what his independence and honesty cost him. As someone who was a financial reporter, I found myself nodding along with many of the points he raised in Exile on Wall Street. Executives and corporations will freeze you out if you don't "play along.

The financial stakes are much higher in that regard compared with the "media relations people" who will freeze out reporters who are too critical. It's too powerful, takes a careless approach to risk and it expects the Fed and government to step in when it runs into trouble.

Mayo, Mike

TARP is only one of several bailouts it has received over the years. It is definitely a worthwhile read if you are interested in a behind the scenes look at finance and corporate management. Some of his recommendations and conclusions shouldn't surprise anyone though, since they are sound calls for smarter regulation, more accountability in management and greater transparency among banks. It reads more like a biography than anything.

Personally, I find this book engaging in the sense that as you flip through the pages, you can feel the anger, the sadness, disappointments and bitterness of Mike Mayo.

Exile on Wall Street : Mike Mayo :

I believe that most people can empathize with the injustice that he faced. However, I'm not so sure I'm agreeable with Mike Mayo on some of the chapters especially those that holds specific individual or corporation responsible for the global financial meltdown.

Although I can't say I It reads more like a biography than anything. Although I can't say I'm an expert in this debate, but I believe the root causes may be more than it seems. You won't find a detailed analysis of why the financial meltdown happened, but instead, you'll find an inspiring story of how an analyst stood up to Wall Street.

For that, I think I'm inspired and motivated by Mike Mayo's story. Jan 30, bookreader rated it liked it. On principle, I don't read sell-side research. But if I did, Mayo would be a good place to start. Who else would dare to describe an American banking behemoth as the "Zelig of financial recklessness"? U On principle, I don't read sell-side research. This is harder than it sounds, unless you are Michael Lewis.

The investment community in the round benefits from Mayo's gutsy refusal to abide by the oft-heard "Chinatown"-like admonition, "Forget it, Mike. Mar 14, Marcelo Bahia rated it liked it Shelves: This book is not a bad one, but delivered less than I expected. Chapters which explain the crisis and afterwards make suggestions for future improvements in the industry do not contain anything different from what's already out there.

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

The parts I liked the most were the biographical ones in the beginning of the book, from the Fed period to the first years as a sell-side analyst. Stories like the private jet trip with the bank's CEO are not surprising for somebody who works in the industry, b This book is not a bad one, but delivered less than I expected.

Stories like the private jet trip with the bank's CEO are not surprising for somebody who works in the industry, but are really enjoyable to read, coming directly from the perspective of the analyst involved.

I would recommend this book for somebody who's curious about the way the financial industry really works and the events, but not for somebody who's already in the field and has professionally lived through the crisis, like my case. Apr 30, Jonathan Chen rated it it was ok.


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The problem with a "tell-all" book by an analyst is that there is very little to tell, since analysts are outsiders. Analysts like Mayo rely on public information, such as financial statements and interviews with management. As he freely admits, there was no way analysts could've known about the off balance sheet toxic assets, which means they could not have accurately predicted the financial crisis. To get the full picture a financial crisis, whether it's Longterm Capital, Enron, or the fi The problem with a "tell-all" book by an analyst is that there is very little to tell, since analysts are outsiders.

To get the full picture a financial crisis, whether it's Longterm Capital, Enron, or the financial crisis, an author would need to conduct hundreds of interviews and try to substantiate evidence. Both offer a lot more "inside information" than "Exile on Wall Street".

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Description 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. 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.