Sense on Cents

In Bed With Wall Street

REVIEWS: 

–The new book by Larry Doyle could be called a “must read”.  This reviewer would go even farther and say it should be required reading for every single American.

–If you think Flash Boys was explosive, In Bed with Wall Street is downright nuclear.”

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MORE REVIEWS: 

–In this review, we seek to highlight that this is the first and only book, post 2008 financial crisis, to focus on one of the most compelling issues Congress must wrestle with:  FINRA, the self-regulation of Wall Street and the SEC’s oversight of FINRA. Yet, this issue and its implications are an unknown to the average American.  Larry’s In Bed with Wall Street is the first step to change that.

–I am extremely impressed with the depth of research that went into this book.  Larry Doyle is uniquely qualified and prepared to write this book. And the result is a masterpiece!

–This book will clarify many things for which you may have had an incomplete picture.  It will give another example of the old saw:  You couldn’t make stuff like this up.

—In Bed with Wall Street presents some incredible stories of fraud and deceit that the average reader will find hard to believe, in straight-forward easy to read prose, devoid of industry jargon.

— . . . a blistering account of the way that a “conspiracy” between Washington and Wall Street has lined the pockets of the richest financial services firms at the expense of average Joes.

–The lack of transparency, the issues that Larry puts forth in his book, are core factors in why our nation, still reeling with high unemployment and an economy fragile and resting on the injection of reserves from the Federal Reserve, is posed for continued fraud, systemic risk and ongoing breaches of fiduciary duty to American’s retirement nest eggs.

–What is fortunate is this book is eminently readable. It reads like a novel while unfolding page after page of crony capitalism, regulatory capture, outright agency fraud (both within government and the financial industry as well) and abuse of the investing public.

–With great intensity, Doyle focuses on a little-known self-regulator called the Financial Industry Regulatory Authority. His deep digging into the operations of that group qualifies as investigative journalism, and the scandalous details he recounts are impressive.

–The author has clearly done his homework while thinking about a reform effort . . . An important book . . .

–Share this book with your friends.  Consider his public policy recommendations. Our strongest recommendation is to get involved in the four most critical ones and start to vet any candidate for 2014 and 2016,  as to how they respond on these issues.

–Many financial professionals will have awareness of many of the issues addressed in this book.  But few will have been exposed to the details that Larry Doyle has uncovered and documented over the years.

–In Bed with Wall Street has been designated as one of ten Books That Matter by the Project on Government Oversight for their 2014 Winter Reading List.

ENDORSEMENTS:

“Not only does Larry Doyle have years of Wall Street experience that make him an essential observer of the world of finance but he also has something that very few commentators of the scene have: An extraordinarily high-level of honor and integrity.

The combination makes Larry Doyle’s new book a must read!”

— William D. Cohan, author of House of Cards

“In his new book, Larry Doyle serves as an expert guide down the deep, dark canyons of our financial crisis. Holding well-needed light to Wall Street and Washington, Doyle pulls no punches.

In Bed with Wall Street is required reading in any honest attempt to understand how our financial system failed.”

David P. Weber, Former Assistant Inspector General for Investigations of the U.S. Securities and Exchange Commission, and SEC Whistleblower.

“A juicy insider’s account of the incestuous deal between Wall Street and captured regulators, detailing how years after the financial crisis of 2008, powerful interests have allowed the big banks to survive and thrive. Whistleblowers? Check. Corrupted regulators? Check. Financial fraud victims? You’ll hear from everyone in Larry Doyle’s gem.”

Erin Arvedlund, author of “Too Good to Be True: The Rise and Fall of Bernie Madoff”

“The truth is hard to come by in the corridors of Washington and Wall Street. Lucky for us there’s Larry Doyle, who has been relentless in pursuing the truth about our financial regulatory system. His findings should concern us all: Keystone Cops, unheeded whistleblowers, too-big-to-fail banks, kangaroo courts, and rampant revolving doors, just to name a few.

In Bed with Wall Street pulls back the curtain on the government’s failed response to the financial crisis, and offers a roadmap for meaningful reforms.”

— Danielle Brian, Project On Government Oversight

Larry Doyle draws on his decades of Wall Street experience to uncover the cozy relationships between major banks and their supposed regulators while taking us into the dark corners of Wall Street and Washington. His book outlines in detail the fundamental reasons why little has changed since the financial crisis.

— James Kwak, associate professor, UConn School of Law, and co-author, 13 Bankers: The Wall Street Takeover and the Next Financial Meltdown

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