LEADER 02646pam 2200181 a 4500
001 892544
005 20181210092822.0
008 181226s2018 nyu g b 001 0 eng d
020 $a9780062452993 (pbk.) :$cNT$595
040 $aTWTNM$beng$dTWTNM
082 04$a364.168$222
092 $a364.168
100 1 $aEnrich, David,$d1979-$eauthor.
245 14$aThe spider network :$bhow a math genius and a gang of scheming bankers pulled off one of the greatest scams in history /$cDavid Enrich.
250 $aFirst Custom House paperback edition.
260 $aNew York :$bCustom House, an imprint of William Morrow,$c[2018].
300 $axiii, 513 p. ;$c20 cm.
504 $aIncludes bibliographical references and index.
505 0 $aThe scam. Watching the coronation ; The hall of mirrors ; Classy people ; Peak performance ; The lucky turnstile ; The sycophants ; Your name in print ; A yacht in Monaco -- Ascendance. What's a cabal? ; Entre nous ; Gods of the sea; In the flag room ; A slap on the wrist -- The second scam. He's the one ; Spiders ; A crook of the first order ; The unit cost of steak ; Charades -- Victory. Within the ark.
520 $aThe Wall Street Journal's award-winning business reporter unveils the bizarre and sinister story of how a math genius named Tom Hayes, a handful of outrageous confederates, and a deeply corrupt banking system ignited one of the greatest financial scandals in history. In 2006, an oddball group of bankers, traders and brokers from some of the world's largest financial institutions made a startling realization: Libor--the London interbank offered rate, which determines the interest rates on trillions in loans worldwide--was set daily by a small group of easily manipulated functionaries, and that they could reap huge profits by nudging it to suit their trading portfolios. Tom Hayes, a brilliant but troubledmathematician, became the lynchpin of a wild alliance that among others included a French trader nicknamed Gollum; the broker Abbo, who liked to publicly strip naked when drinking; a Kazakh chicken farmer turned something short of financialwhiz kid; a broker known as Village (short for Village Idiot) and fascinated with human-animal sex; an executive called Clumpy because of his patchwork hair loss; and a broker uncreatively nicknamed Big Nose. Eventually known as the SpiderNetwork, Hayes's circle generated untold riches --until it all unraveled in spectacularly vicious, backstabbing fashion. The Spider Network is not only a rollicking account of the scam, but a provocative examination of a financial system that was crooked throughout, designed to promote envelope-pushing behavior while shielding higher-ups from the consequences of their subordinates' rapacious actions--$cProvided by publisher.
650 4$aBanks and banking$xCorrupt practices$vCase studies.
650 4$aBUSINESS & ECONOMICS / Economic History.
650 0$aCommercial crimes.
650 0$aInterest rates.
650 0$aDerivative securities.
650 0$aInternational finance.
650 4$aBUSINESS & ECONOMICS / Banks & Banking.