INSIDE OUT

AN INSIDER'S ACCOUNT OF WALL STREET

If the text at hand is any indicator, the apologies of Wall Streeters at the center of the insider-trading scandals of the 1980's will be even less revelatory and ingratiating than those of Watergate accomplices who rushed into print after serving their time. Despite the first-rate assistance of Hoffer (co-author of Not Without My Daughter, etc.), Levine recounts rather than reflects on his self-destructive career as an investment banker. With precious little going for him beyond ambition, a gift of gab, and analytic talent, the author, by dint of hard work, nonetheless broke into the clubby M&A (mergers and acquisitions) community, soon achieving superstar status at Drexel Burnham (home base for Michael Milken) with a guaranteed annual income topping $1 million. During his swift ascent, however, Levine was using privileged data obtained from employers and a network of informants to trade in the shares of companies involved in unannounced deals. In his case, crime paid handsomely, as he amassed profits of nearly $11.6 million in a clandestine offshore account. The author also fenced inside information to Ivan Boesky. Ironically, an anonymous tip, not a misstep, put the SEC on Levine's trail. Once he was brought to book, the author made possibly the best trade of his life, identifying co-conspirators in eventually justified hopes of a lenient sentence. Paradoxically, perhaps, Douglas Frantz provided in Levine & Co. (1987) a more tellingly detailed and thoughtful account of the author's fall. Apart from some perfunctory anguish over the pain he caused family and friends, Levine (who served 17 months of a three-year term in Club Fed) does not grapple with the implications of his breaches of trust. Indeed, he still seems outraged that US authorities could induce Bahamian bankers to give him up, and argues for certainty of detection as the most effective deterrent to market rigging. Nor does he offer any keen insights on notable colleagues and clients. The bottom line: pallid confessions from a scofflaw who seems to have only the vaguest perceptions of his misdeeds' significance. (Eight pages of photos—not seen.)

Pub Date: Sept. 5, 1991

ISBN: 0-399-13655-X

Page Count: 432

Publisher: Putnam

Review Posted Online: May 3, 2011

Kirkus Reviews Issue: Aug. 1, 1991

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A clear, useful guide through the current chaotic political landscape.

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WHY WE'RE POLARIZED

A sharp explanation of how American politics has become so discordant.

Journalist Klein, co-founder of Vox, formerly of the Washington Post, MSNBC, and Bloomberg, reminds readers that political commentators in the 1950s and ’60s denounced Republicans and Democrats as “tweedledum and tweedledee.” With liberals and conservatives in both parties, they complained, voters lacked a true choice. The author suspects that race played a role, and he capably shows us why and how. For a century after the Civil War, former Confederate states, obsessed with keeping blacks powerless, elected a congressional bloc that “kept the Democratic party less liberal than it otherwise would’ve been, the Republican Party congressionally weaker than it otherwise would’ve been, and stopped the parties from sorting themselves around the deepest political cleavage of the age.” Following the passage of the 1964 Civil Rights Act, many white Southern Democrats became Republicans, and the parties turned consistently liberal and conservative. Given a “true choice,” Klein maintains, voters discarded ideology in favor of “identity politics.” Americans, like all humans, cherish their “tribe” and distrust outsiders. Identity was once a preoccupation of minorities, but it has recently attracted white activists and poisoned the national discourse. The author deplores the decline of mass media (network TV, daily newspapers), which could not offend a large audience, and the rise of niche media and internet sites, which tell a small audience only what they want to hear. American observers often joke about European nations that have many parties who vote in lock step. In fact, such parties cooperate to pass legislation. America is the sole system with only two parties, both of which are convinced that the other is not only incompetent (a traditional accusation), but a danger to the nation. So far, calls for drastic action to prevent the apocalypse are confined to social media, fringe activists, and the rhetoric of Trump supporters. Fortunately—according to Klein—Trump is lazy, but future presidents may be more savvy. The author does not conclude this deeply insightful, if dispiriting, analysis by proposing a solution.

A clear, useful guide through the current chaotic political landscape.

Pub Date: Jan. 28, 2020

ISBN: 978-1-4767-0032-8

Page Count: 336

Publisher: Avid Reader Press

Review Posted Online: Dec. 22, 2019

Kirkus Reviews Issue: Jan. 15, 2020

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Not an easy read but an essential one.

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HOW TO BE AN ANTIRACIST

Title notwithstanding, this latest from the National Book Award–winning author is no guidebook to getting woke.

In fact, the word “woke” appears nowhere within its pages. Rather, it is a combination memoir and extension of Atlantic columnist Kendi’s towering Stamped From the Beginning (2016) that leads readers through a taxonomy of racist thought to anti-racist action. Never wavering from the thesis introduced in his previous book, that “racism is a powerful collection of racist policies that lead to racial inequity and are substantiated by racist ideas,” the author posits a seemingly simple binary: “Antiracism is a powerful collection of antiracist policies that lead to racial equity and are substantiated by antiracist ideas.” The author, founding director of American University’s Antiracist Research and Policy Center, chronicles how he grew from a childhood steeped in black liberation Christianity to his doctoral studies, identifying and dispelling the layers of racist thought under which he had operated. “Internalized racism,” he writes, “is the real Black on Black Crime.” Kendi methodically examines racism through numerous lenses: power, biology, ethnicity, body, culture, and so forth, all the way to the intersectional constructs of gender racism and queer racism (the only section of the book that feels rushed). Each chapter examines one facet of racism, the authorial camera alternately zooming in on an episode from Kendi’s life that exemplifies it—e.g., as a teen, he wore light-colored contact lenses, wanting “to be Black but…not…to look Black”—and then panning to the history that informs it (the antebellum hierarchy that valued light skin over dark). The author then reframes those received ideas with inexorable logic: “Either racist policy or Black inferiority explains why White people are wealthier, healthier, and more powerful than Black people today.” If Kendi is justifiably hard on America, he’s just as hard on himself. When he began college, “anti-Black racist ideas covered my freshman eyes like my orange contacts.” This unsparing honesty helps readers, both white and people of color, navigate this difficult intellectual territory.

Not an easy read but an essential one.

Pub Date: Aug. 13, 2019

ISBN: 978-0-525-50928-8

Page Count: 320

Publisher: One World/Random House

Review Posted Online: April 28, 2019

Kirkus Reviews Issue: May 15, 2019

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