The Spider Network

The Spider Network

The Wild Story of A Math Genius, A Gang of Backstabbing Bankers, and One of the Greatest Scams in Financial History

Book - 2017
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"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 troubled mathematician, 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 financial whiz 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 “Spider Network,” Hayes’s circle generated untold riches —until it all unraveled in spectacularly vicious, backstabbing fashion."--Provided by the publisher.
Publisher: New York :, Custom House, an imprint of William Morrow,, 2017
Edition: First edition
Copyright Date: ©2017
ISBN: 9780062452986
Characteristics: xiii, 509 pages : illustrations ; 24 cm

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