The Spider Network: How a Math Genius and a Gang of Scheming Bankers Pulled

Description: SHORT-LISTED FOR THE FINANCIAL TIMES BUSINESS BOOK OF THE YEAR The Wall Street Journal's award-winning business reporter unveils the bizarre and sinister story of how a math genius named Tom Hayes, a handful of outrageous confederates, and a deeply corrupt banking system ignited one of the greatest financial scandals in history. The paperback edition includes a new chapter discussing further fallout from the scandal. In 2006, an oddball group of bankers, traders and brokers from some of the world's largest financial institutions made a startling realization: Libor--the London interbank offered rate, which determines interest rates on trillions in loans worldwide--was set daily by a small group of easily manipulated functionaries. Tom Hayes, a brilliant but troubled mathematician, became the lynchpin of shadowy team that used hook and crook to take over the process and set rates that made them a fortune, no matter the cost to others. Among the motley crew was a French trader nicknamed "Gollum"; the broker "Abbo," who liked to publicly strip naked when drinking; a Kazakh chicken farmer turned something short of financial whiz kid; an executive called "Clumpy" because of his patchwork hair loss; and a broker uncreatively nicknamed "Big Nose." Eventually known as the "Spider Network," Hayes's circle generated untold riches --until it all unraveled in spectacularly vicious, backstabbing fashion. Praised as reading "like a fast-paced John le Carre thriller" (New York Times), "compelling" (Washington Post) and "jaw-dropping" (Financial Times), The Spider Network is not only a rollicking account of the scam, but a provocative examination of a financial system that was warped and shady throughout. --Iain Martin, author of Crash Bang Wallop

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End Time: 2024-12-06T03:43:40.000Z

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EAN: 9780062452993

UPC: 9780062452993

ISBN: 9780062452993

MPN: N/A

Book Title: Spider Network : How a Math Genius and a Gang of Scheming Bankers Pulled off One of the Greatest Scams in History

Number of Pages: 528 Pages

Language: English

Publisher: HarperCollins

Publication Year: 2018

Item Height: 1.1 in

Topic: Hoaxes & Deceptions, Banks & Banking, White Collar Crime, Economic History, Finance / General, Criminal Law / General, Business, Investments & Securities / General

Genre: Law, True Crime, Biography & Autobiography, Business & Economics

Item Weight: 15.8 Oz

Item Length: 8 in

Author: David Enrich

Item Width: 5.3 in

Format: Trade Paperback