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The Spider Network - David Enrich

By David Enrich

Release Date: 2017-03-21

Genre: Economics

4.5 (102 ratings)
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SHORT-LISTED FOR THE FINANCIAL TIMES BUSINESS BOOK OF THE YEAR

The term “Libor” is obscure, but it determines a good deal of our financial lives-the interest rate on our credit card; our student loans; our mortgages; our car payments. How did a math genius, a handful of outrageous confederates, and a deeply corrupt banking system conspire to pickpocket you? They were in your wallet to already. 

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 a 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 CarrĂ© 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.

This riveting work of investigative journalism reveals:
A Global Financial Conspiracy: How a shadowy team of traders and brokers, known as the “Spider Network,” realized they could manipulate the world’s most important number—and made a fortune doing it.The Math Genius Mastermind: The story of Tom Hayes, a brilliant but troubled mathematician who became the lynchpin of the scheme, only to watch it unravel in spectacularly vicious, backstabbing fashion.Wall Street Culture Uncovered: A jaw-dropping look inside the corrupt world of global finance, populated by an oddball crew of characters nicknamed “Gollum,” “Clumpy,” and “Big Nose.”A Real-Life Financial Thriller: Praised by The New York Times as reading “like a fast-paced John le CarrĂ© thriller,” this is the definitive account of one of the greatest scams in history.
Pineal: Xt Open Your Third Eye

The Spider Network - David Enrich

By David Enrich

Release Date: 2017-03-21

Genre: Economics

4.5 (102 ratings)
Read Download
SHORT-LISTED FOR THE FINANCIAL TIMES BUSINESS BOOK OF THE YEAR

The term “Libor” is obscure, but it determines a good deal of our financial lives-the interest rate on our credit card; our student loans; our mortgages; our car payments. How did a math genius, a handful of outrageous confederates, and a deeply corrupt banking system conspire to pickpocket you? They were in your wallet to already. 

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 a 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 CarrĂ© 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.

This riveting work of investigative journalism reveals:
A Global Financial Conspiracy: How a shadowy team of traders and brokers, known as the “Spider Network,” realized they could manipulate the world’s most important number—and made a fortune doing it.The Math Genius Mastermind: The story of Tom Hayes, a brilliant but troubled mathematician who became the lynchpin of the scheme, only to watch it unravel in spectacularly vicious, backstabbing fashion.Wall Street Culture Uncovered: A jaw-dropping look inside the corrupt world of global finance, populated by an oddball crew of characters nicknamed “Gollum,” “Clumpy,” and “Big Nose.”A Real-Life Financial Thriller: Praised by The New York Times as reading “like a fast-paced John le CarrĂ© thriller,” this is the definitive account of one of the greatest scams in history.
Pineal: Xt Open Your Third Eye

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Pineal: Xt Open Your Third Eye