Spider Network

    By

    Shortlisted for the FT & McKinsey Book Prize! `Will snare you in its web of deceit, lies, corruption, manipulation and colourful characters. [a] brilliant investigative expose' - Harlan Coben, bestselling thriller author `Reads like a fast-paced John le Carre thriller, and never lets up' - New York Times book review 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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    Number of Pages: 496
    Format(s): Paperback - ISBN: 9780753557501
    Publication Date:
    Listed in: True crime, Banking
    Publisher: W H Allen

    Books by David Enrich

    Paperback

    RRP: £14.99

    Sale Price: £11.45

    Save: £3.54 per copy!

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