Page 5 


Exile On Wall Street

Exile On Wall Street Cover

In 'Exile on Wall Street', star banking analyst Mike Mayo reveals for the first time the 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.


'Day One Trader'

'As I walked into the members entrance of the exchange for the first time on September 30 1982 I felt a buzz of excitement. I had realised my ambition of being a 'day-one trader'. Inside, the fluorescent lit exchange floor bustled with about three hundred traders in orange, red and blue jackets. A brief opening ceremony was overseen by Gordon Richardson, the governor of the Bank of England, before he cut a white ribbon hanging above a pulpit overlooking the floor. I felt at fever pitch as we counted down the start of trading. 'Ten, nine, eight, seven, six, five, four, three, two, one!' The bell rang and I watched a scrum of dealers scramble to trade Liffe’s first ever contracts in a heap of frenetic energy'.