The Spider Network: The Wild Story of a Math Genius, a Gang of Backstabbing Bankers, and One of the Greatest Scams in Fina...

 

The Spider Network: The Wild Story of a Math Genius, a Gang of Backstabbing Bankers, and One of the Greatest Scams in Fina...









The Spider Network: The Wild Story of a Math Genius, a Gang of Backstabbing Bankers, and One of the Greatest Scams in Fina...


In 2006, an oddball group of bankers, traders and brokers from some of the largest financial institutions made a startling realization: Libor—the London interbank offered rate, which determines the interest rates on trillions in loans worldwide—was set daily by a small group of easily manipulated administrators, and that they could reap huge profits by nudging it fractions of a percent to suit their trading portfolios. Tom Hayes, a brilliant but troubled mathematician, became the lynchpin of a wild alliance that included a prickly French trader nicknamed “Gollum” the broker “Abbo,” who liked to publicly strip naked when drinking a nervous Kazakh chicken farmer known as “Derka Derka” a broker known as “Village” (short for “Village Idiot”) who racked up huge expense account bills an executive called “Clumpy” because of his patchwork hair loss and a broker uncreatively nicknamed “Big Nose” who had once been a semi-professional boxer. This group generated incredible riches —until it all unraveled in spectacularly vicious, backstabbing fashion.With exclusive access to key characters and evidence, The Spider Network is not only a rollicking account of the scam, but also a provocative examination of a financial system that was crooked throughout.RUNNING TIME ? 15hrs. and 31mins.©2017 David Enrich (P)2017 HarperCollins Publishers


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The Spider Network: The Wild Story of a Math Genius, a Gang of Backstabbing Bankers, and One of the Greatest Scams in Fina...


In 2006, an oddball group of bankers, traders and brokers from some of the largest financial institutions made a startling realization: Libor—the London interbank offered rate, which determines the interest rates on trillions in loans worldwide—was set daily by a small group of easily manipulated administrators, and that they could reap huge profits by nudging it fractions of a percent to suit their trading portfolios. Tom Hayes, a brilliant but troubled mathematician, became the lynchpin of a wild alliance that included a prickly French trader nicknamed “Gollum” the broker “Abbo,” who liked to publicly strip naked when drinking a nervous Kazakh chicken farmer known as “Derka Derka” a broker known as “Village” (short for “Village Idiot”) who racked up huge expense account bills an executive called “Clumpy” because of his patchwork hair loss and a broker uncreatively nicknamed “Big Nose” who had once been a semi-professional boxer. This group generated incredible riches —until it all unraveled in spectacularly vicious, backstabbing fashion.With exclusive access to key characters and evidence, The Spider Network is not only a rollicking account of the scam, but also a provocative examination of a financial system that was crooked throughout.RUNNING TIME ? 15hrs. and 31mins.©2017 David Enrich (P)2017 HarperCollins Publishers


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