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Download PDF Financial Exposure: Carl Levin's Senate Investigations into Finance and Tax Abuse

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Financial Exposure: Carl Levin's Senate Investigations into Finance and Tax Abuse

Financial Exposure: Carl Levin's Senate Investigations into Finance and Tax Abuse


Financial Exposure: Carl Levin's Senate Investigations into Finance and Tax Abuse


Download PDF Financial Exposure: Carl Levin's Senate Investigations into Finance and Tax Abuse

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Financial Exposure: Carl Levin's Senate Investigations into Finance and Tax Abuse

From the Back Cover

At a time when Congressional investigations have taken on added importance and urgency in American politics, this book offers readers a rare, insider’s portrait of the world of US Congressional oversight. It examines specific oversight investigations into multiple financial and offshore tax scandals over fifteen years, from 1999 to 2014, when Senator Levin served in a leadership role on the US Senate Permanent Subcommittee on Investigations (PSI), the Senate’s premier investigative body.                                                                                                                Despite mounting levels of partisanship, dysfunction, and cynicism swirling through Congress during those years, this book describes how Congressional oversight investigations can be a powerful tool for uncovering facts, building bipartisan consensus, and fostering change, offering detailed case histories as proof. Grounded in fact, and written as only an insider could tell it, this book will be of interest to financial and tax practitioners, policymakers, academics, students, and the general public.

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About the Author

For nearly 30 years beginning in 1985, Elise Bean worked as legal counsel to Senator Carl Levin (D-MI) on the US Senate Homeland Security and Governmental Affairs Committee. In 2003, Senator Levin appointed her his staff director and chief counsel on the Committee’s Permanent Subcommittee on Investigations. In early 2015, Senator Levin retired from the Senate, and so did Ms. Bean. She then helped establish in his honor the Levin Center at Wayne Law in Detroit. During her tenure with Senator Levin, Ms. Bean handled a variety of complex investigations including matters involving money laundering, tax abuse, corruption, unfair credit card practices, health care fraud, abuses involving derivatives and structured finance, commodity speculation, and shell companies with hidden owners. Investigations headed by Ms. Bean included inquiries into the 2008 financial crisis, HSBC money laundering problems, the London whale trades at JPMorgan Chase, the collapse of Enron, and offshore tax dodging by Apple, Microsoft, and Caterpillar.In 2013 and 2011, the Washingtonian named her one of Washington’s 100 most powerful women. In 2010, Ms. Bean was selected by the National Law Journal as one of Washington’s most influential women lawyers.Ms. Bean graduated Phi Beta Kappa from Wesleyan University, USA, in 1978, and received her law degree from the University of Michigan, USA, in 1982. She then served as a law clerk to the former Chief Judge of the US Claims Court, and worked for two years as a trial attorney with the US Department of Justice Civil Frauds Section.  

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Product details

Hardcover: 449 pages

Publisher: Palgrave Macmillan; 1st ed. 2018 edition (August 8, 2018)

Language: English

ISBN-10: 3319943871

ISBN-13: 978-3319943879

Product Dimensions:

6.5 x 1.5 x 9.5 inches

Shipping Weight: 1.8 pounds (View shipping rates and policies)

Average Customer Review:

5.0 out of 5 stars

21 customer reviews

Amazon Best Sellers Rank:

#701,661 in Books (See Top 100 in Books)

When I returned to DC from 20+ months in Iraq in early 2007, I was mentally fried and by and large disillusioned with the federal government, Congress in particular. After a month of Grand Theft Auto and aimless all night wandering around the National Mall I decided to quit whining about govt dysfunction and ante up by joining Senator Coleman’s staff at the Senate Permanent Subcommittee on Investigations, where I met Elise Bean, Senator Levin’s tireless Staff Director for our Democratic counterparts. Over the next two plus years I had the privilege of joining Bob Roach, Zack Schram, Laura Stuber and others in their relentlessly thoughtful investigations into the malpractice of financial institutions and their government regulators, in a wholly bipartisan manner (& not coincidentally test driving many of the ideas that became the country’s first citywide data analytics team under Mike Bloomberg), while forging lifelong friendships across the aisle based on a shared passion for justice and respectful disagreement on what that looked like.In this book Elise captures all that with the same integrity and detailed but compelling story telling she brought to bear on the targets of Senator Levin’s withering scrutiny. Read this book and see what Congress can look like when we are ready to be our best selves again.

As Senator Levin says in his Forward to Elise Bean’s new book, “Congressional oversight, when pursued on a bipartisan basis, has long served as an essential check on the executive branch and on misconduct in the private sector.” Ms. Bean has chronicled 15 turbulent years of financial investigations conducted by the Permanent Subcommittee on Investigations. These investigations were led by Senator Levin and his staff working in a bipartisan fashion with his counterparts on the other side of the aisle and their staff. These groundbreaking investigations into money laundering, tax evasion, unfair financial practices, financial fraud, and causes of the financial crisis, provide lessons about the power of congressional oversight and a road map for going forward. It is a must read for anyone who wants a reminder of how Congress can work in a bipartisan manner to conduct oversight for the benefit of the American people.

Elise Bean, in a beautifully written book, demonstrates the value of Congressional oversight and investigation as well as the key role of bipartisanship. She tells the story of some of the most important government tasks at a time when it is ever more critical that we focus on them. Her ability to illustrate her points with understandable and powerful examples makes this book not only a tool and guide for those such as journalists and government staff but, just as importantly, it readily provides insight for anyone interested in the role of good government and the values we must not lose.

A concise, well-organized and engagingly written account of how the Hill works. As one who follows the news but who is not political or an insider, I learned so much from Ms. Bean's book. It is a fascinating read. Particularly after the recent debacles of Committee hearings, Financial Exposure gives one hope for a resurrection of bipartisanship. Not only is it a timely book, future historians will use this text for context and to better understand the period.

Congress should do more of this work.I learned a lot from this book about issues that matter, like the financial crisis, money laundering, and tax dodging. Congress should do more of this type of work.

An excellent insider's view of how Congress investigates complex issues -- and has done so in the case of the Permanent Subcommittee on Investigations on a bipartisan basis. A very personal and uplifting account that also serves as a course in Congressional authority and the many facets of international finance and tax policy.

"Foreign money laundering, corporate tax evasion, the 2008 financial crisis -- these topics couldn't be more relevant today. Those interested in understanding complex financial topics and how Senate investigators work will find this book to be a wonderful primer. As someone with no background in finance or politics, I found the writing to be clear, concise and highly readable - Investigations 101. The chapter on PSI's investigation into the 2008 financial crisis alone is worth the price of the book - I finally get it now."

This should rank as among the very best accounts ever written of financial and tax fraud by banks and the U.S. and international financial sectors. If you thought Lehman Brothers was bad, this book will leave you furious at how the banks and other financial organizations scam the system and flout the law. It contains many jaw-dropping examples of stunningly dishonest business practices and how congressional investigations exposed them. Reporters, politicians, policy-makers and regulators need to read this to see and understand how domestic and global financial predators operate.Elise Bean’s front-row seat on the Senate Permanent Committee on Investigations gives her a unique ability to not just point out the illegalities and back-room dealings, but also a unique perspective about how Congress has worked (sometimes more successfully than others) to stop these crimes.Especially at this point in our history, her call for truly bipartisan and effective congressional investigations can sound like a voice in the wilderness. But ultimately, for all the sordid and disgusting details she lays out of dirty financial (and political) deeds, this is ultimately a positive and uplifting book: Our system has worked, and it can work again, when our representatives (and the people who elect them) are able to rise above tribalism and pay attention to the facts, rather than posturing and partisanship. This book is far more than a mere recitation of colorful (and outrageous) financial crimes—it is also a much-needed roadmap to how our government can expose and stop it in the future.

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Financial Exposure: Carl Levin's Senate Investigations into Finance and Tax Abuse PDF

Financial Exposure: Carl Levin's Senate Investigations into Finance and Tax Abuse PDF

Financial Exposure: Carl Levin's Senate Investigations into Finance and Tax Abuse PDF
Financial Exposure: Carl Levin's Senate Investigations into Finance and Tax Abuse PDF

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