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Financial Exposure: Carl Levin's Senate Investigations | Elise J. Bean
Financial Exposure: Carl Levin's Senate Investigations | Elise J. Bean
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Financial Exposure: Carl Levin's Senate Investigations into Finance and Tax Abuse
by Elise J. Bean
"A rare, insider’s portrait of US Congressional oversight and the pursuit of financial transparency."
⚖️ LAW | POLITICAL SCIENCE | FINANCIAL CRIME
An authoritative account of fifteen years of landmark investigations into offshore tax scandals, money laundering, and corporate fraud within the US Senate Permanent Subcommittee on Investigations (PSI).
Extended Synopsis
Financial Exposure provides an unprecedented look into the inner workings of the United States Senate's premier investigative body. Written by Elise J. Bean, the longtime Chief Counsel to Senator Carl Levin, this book chronicles the high-stakes oversight investigations conducted between 1999 and 2014. It offers a detailed historical record of how the Permanent Subcommittee on Investigations (PSI) tackled systemic financial abuses, ranging from the collapse of Enron to the complex offshore tax strategies utilized by multinational corporations like Apple and Microsoft.
Beyond the specific case histories—including the 2008 financial crisis and the JPMorgan "London Whale" trades—Bean demonstrates how rigorous, fact-based Congressional oversight remains a vital tool for building bipartisan consensus and fostering legislative change. This work serves as both a manual for effective oversight and a cautionary tale regarding the complexities of modern structured finance and tax dodging.
About the Author
Elise J. Bean served for nearly 30 years as legal counsel to Senator Carl Levin, eventually becoming the Staff Director and Chief Counsel of the PSI. Recognized by the National Law Journal and Washingtonian as one of the most influential lawyers in D.C., she specialized in investigating money laundering, derivatives abuse, and shell companies. Following her retirement, she helped establish the Levin Center at Wayne Law to promote excellence in legislative oversight.
Reader Targeting & Academic Utility
- Financial & Tax Practitioners: A critical resource for understanding the evolution of anti-money laundering (AML) and offshore tax compliance.
- Public Policy Students: A firsthand case study in the mechanics of legislative oversight and bipartisan fact-finding.
- Corporate Law Professionals: In-depth analysis of the investigative scrutiny applied to derivatives, commodity speculation, and structured finance.
Technical Specifications
| ISBN-13 | 9783319943879 |
| ISBN-10 | 3319943871 |
| Format | Hardcover |
| Publisher | Palgrave Macmillan |
| Publication Date | August 22, 2018 |
| Language | English |
| Subjects | Finance, Taxation, Politics & Government |
Key Investigations Covered
- The 2008 Financial Crisis and the role of high-risk financial products.
- Offshore tax dodging by Apple, Microsoft, and Caterpillar.
- Money laundering deficiencies at HSBC and the London Whale trades at JPMorgan Chase.
- The collapse of Enron and abuses involving shell companies with hidden owners.
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