The new book by Larry Doyle, In Bed With Wall Street: The Conspiracy Crippling Our Global Economy could be called a “must read.” This reviewer would go even farther and say it should be required reading for every single American. This book is not just for investors, although it contains thoroughly researched and documented information that will transform the way individuals approach investing. It goes right to the core of the way the entire country operates as a private fiefdom of Wall Street. That makes it necessary information for every single serf.
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. But you will wish it really was fiction, just a bad dream from which you could awaken and have all the details just fade away.
A Broad Indictment
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. In 201 pages years of the author’s personal research plus other sources contained in 200 references (which are footnoted and listed in an appended 14 page bibliography), Larry Doyle has laid out an indictment of the extensive criminal activity of the Wall Street-Washington cabal.
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. This book is the organization of that work into an impressive summation of the serious deficiencies that exist on Wall Street, in government interactions with the finacial community and all the way out to the face of fiance for the individual investor.
Other reviewers have called the book a “blistering account of a conspiracy against average Joes” (Joe Meyer, CTPost.com), “an expert guide down the deep, dark canyons of our financial crisis” (“David P. Weber, Former Assistant Inspector General for Investigations of the U.S. Securities and Exchange Commission, and SEC Whistleblower) and a “juicy insider’s account of the incestuous deal between Wall Street and captured regulators” (Erin Arvedlund, author of Too Good to Be True: The Rise and Fall of Bernie Madoff).
