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Sinopse

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.

Duração: aproximadamente 7 horas (06:38:03)
Data de publicação: 20/07/2020; Unabridged; Copyright Year: 2020. Copyright Statment: —

• Negócios e Economia