The Spider Network

The Spider Network

David Enrich  (Author)
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.
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  • Product code: 9780753557518
  • Barcode: 9780753557518
  • Added: Feb 8, 2018
  • Author: David Enrich
  • Publishing company: Random House
  • Year of publication: 2018
  • Language: English
  • Book format: Paberback
  • Pages: 496
  • Size: 200x130

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