An important book that could have been much better with improved writing and greater insider sharing by Doyle.
A former Wall Street insider excoriates the current nonsystem of alleged self-regulation and weak government regulation in the finance industry.
After being employed as a mortgage-backed securities trader at Bank of America, Bear Stearns and other large financial firms, Doyle became disillusioned and departed. He now runs his own investment practice and serves as something of a whistle-blower. The problems he discusses are mostly familiar to readers conversant in current American politics: the coziness of legislators and lobbyists; campaign contributions meant to sway thinking and, sometimes, votes; government regulatory agencies, such as the Securities and Exchange Commission, that seem more watchful than they are, as well as so-called self-regulatory groups within the Wall Street community that rarely protect investors from inexcusable financial losses. 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. Unfortunately, Doyle does not engage lay readers, relying far too heavily on unfamiliar acronyms and institutional prose; further, he does not draw memorable characters, either the heroes or the villains. As a result, the book is mostly exhausting to understand, although the effort may be worthwhile for patient readers with some economics background. The final chapter, a lengthy list of proposed reforms, is far easier to digest. Doyle proposes a new agency to be created by Congress (until now part of the scandal rather than part of the solution)—called the Financial Regulatory Review Board—and run by highly qualified individuals currently in the private sector who have demonstrated a passion for public service. The author has clearly done his homework while thinking about a reform effort.
An important book that could have been much better with improved writing and greater insider sharing by Doyle.Pub Date: Jan. 7, 2014
ISBN: 978-1-137-27872-2
Page Count: 240
Publisher: Palgrave Macmillan
Review Posted Online: Nov. 11, 2013
Kirkus Reviews Issue: Dec. 1, 2013
Dogged original research and superb narrative skills come together in this gripping account of pitiless evil.
Greed, depravity, and serial murder in 1920s Oklahoma.
During that time, enrolled members of the Osage Indian nation were among the wealthiest people per capita in the world. The rich oil fields beneath their reservation brought millions of dollars into the tribe annually, distributed to tribal members holding "headrights" that could not be bought or sold but only inherited. This vast wealth attracted the attention of unscrupulous whites who found ways to divert it to themselves by marrying Osage women or by having Osage declared legally incompetent so the whites could fleece them through the administration of their estates. For some, however, these deceptive tactics were not enough, and a plague of violent death—by shooting, poison, orchestrated automobile accident, and bombing—began to decimate the Osage in what they came to call the "Reign of Terror." Corrupt and incompetent law enforcement and judicial systems ensured that the perpetrators were never found or punished until the young J. Edgar Hoover saw cracking these cases as a means of burnishing the reputation of the newly professionalized FBI. Bestselling New Yorker staff writer Grann (The Devil and Sherlock Holmes: Tales of Murder, Madness, and Obsession, 2010, etc.) follows Special Agent Tom White and his assistants as they track the killers of one extended Osage family through a closed local culture of greed, bigotry, and lies in pursuit of protection for the survivors and justice for the dead. But he doesn't stop there; relying almost entirely on primary and unpublished sources, the author goes on to expose a web of conspiracy and corruption that extended far wider than even the FBI ever suspected. This page-turner surges forward with the pacing of a true-crime thriller, elevated by Grann's crisp and evocative prose and enhanced by dozens of period photographs.
Dogged original research and superb narrative skills come together in this gripping account of pitiless evil.Pub Date: April 18, 2017
ISBN: 978-0-385-53424-6
Page Count: 352
Publisher: Doubleday
Review Posted Online: Feb. 1, 2017
Kirkus Reviews Issue: Feb. 15, 2017
BOOK TO SCREEN
BOOK TO SCREEN
BOOK TO SCREEN
Occasionally wonky but overall a good case for how the dismal science can make the world less—well, dismal.
“Quality of life means more than just consumption”: Two MIT economists urge that a smarter, more politically aware economics be brought to bear on social issues.
It’s no secret, write Banerjee and Duflo (co-authors: Poor Economics: A Radical Rethinking of the Way To Fight Global Poverty, 2011), that “we seem to have fallen on hard times.” Immigration, trade, inequality, and taxation problems present themselves daily, and they seem to be intractable. Economics can be put to use in figuring out these big-issue questions. Data can be adduced, for example, to answer the question of whether immigration tends to suppress wages. The answer: “There is no evidence low-skilled migration to rich countries drives wage and employment down for the natives.” In fact, it opens up opportunities for those natives by freeing them to look for better work. The problem becomes thornier when it comes to the matter of free trade; as the authors observe, “left-behind people live in left-behind places,” which explains why regional poverty descended on Appalachia when so many manufacturing jobs left for China in the age of globalism, leaving behind not just left-behind people but also people ripe for exploitation by nationalist politicians. The authors add, interestingly, that the same thing occurred in parts of Germany, Spain, and Norway that fell victim to the “China shock.” In what they call a “slightly technical aside,” they build a case for addressing trade issues not with trade wars but with consumption taxes: “It makes no sense to ask agricultural workers to lose their jobs just so steelworkers can keep theirs, which is what tariffs accomplish.” Policymakers might want to consider such counsel, especially when it is coupled with the observation that free trade benefits workers in poor countries but punishes workers in rich ones.
Occasionally wonky but overall a good case for how the dismal science can make the world less—well, dismal.Pub Date: Nov. 12, 2019
ISBN: 978-1-61039-950-0
Page Count: 432
Publisher: PublicAffairs
Review Posted Online: Aug. 28, 2019
Kirkus Reviews Issue: Sept. 15, 2019
SEEN & HEARD
© Copyright 2024 Kirkus Media LLC. All Rights Reserved.
Follow
Popular in this Genre
We can’t wait for you to join Kirkus!
It’s free and takes less than 10 seconds!
Already have an account? Log in.
OR
Sign in with GoogleTrouble signing in? Retrieve credentials.
Welcome Back!
OR
Sign in with GoogleTrouble signing in? Retrieve credentials.
