Here’s what WealthManagement.com had to say about my book, which was placed at #3:
#3. Going Public: My Adventures Inside the SEC and How to Prevent the Next Devastating Crisis
Compared to the toothless and hapless Securities and Exchange Commission described by Norm Champ’s Going Public, the Justice Department described in The Chickenshit Club comes off as a model guardian for the public interest. As a lawyer and hedge fund expert, Champ watched the 2008 financial crisis unfold with horror. In response, he quit his high-paying job and decided that the SEC could use his Wall Street experience to prevent other Bernie Madoffs and Allen Stanfords. Not so fast. Champ was quickly chewed up and spit out by a culture so toxic and inward-looking that it’s a surprise the SEC accomplishes anything of value. This is a very dispiriting account of an agency that investors count on to enforce a level playing field. He is also refreshing in his candor. Champ accurately describes the culture of the SEC as hopelessly undermined by a poisonous brew of civil service protections and public employee union contracts that make it virtually impossible to fire anyone. (It took five years to terminate an employee who simply failed to show up.) On his first week on the job, Champ received an anonymous letter warning him of the furies that will fall on his doorstop should he try to upgrade examiner standards. If the SEC spent as much time policing the markets as it does investigating anonymous accusations against other employees, corruption would be a thing of the past. By the end of Champ’s account, there is a glimpse of hope that the SEC is making baby steps to internal reform. This is a cautionary tale for any Wall Streeter who believes he can make a difference at the SEC.