The Spider Network: How A Math Genius And A Gang Of Scheming Bankers Pulled Off One Of The Greatest Scams In History by David EnrichThe Spider Network: How A Math Genius And A Gang Of Scheming Bankers Pulled Off One Of The Greatest Scams In History by David Enrich

The Spider Network: How A Math Genius And A Gang Of Scheming Bankers Pulled Off One Of The Greatest…

byDavid Enrich

Paperback | March 6, 2018

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The 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. The paperback edition includes a new chapter discussing further fallout from the scandal.

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 interest rates on trillions in loans worldwide—was set daily by a small group of easily manipulated functionaries. Tom Hayes, a brilliant but troubled mathematician, became the lynchpin of shadowy team that used hook and crook to take over the process and set rates that made them a fortune, no matter the cost to others. Among the motley crew was 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; 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.

Praised as reading like a fast-paced John le Carré thriller” (New York Times), “compelling” (Washington Post) and “jaw-dropping” (Financial Times), The Spider Network is not only a rollicking account of the scam, but a provocative examination of a financial system that was warped and shady throughout.

Title:The Spider Network: How A Math Genius And A Gang Of Scheming Bankers Pulled Off One Of The Greatest…Format:PaperbackDimensions:528 pages, 8 × 5.31 × 1.06 inPublished:March 6, 2018Publisher:HarperCollinsLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0062452991

ISBN - 13:9780062452993

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Reviews

Rated 5 out of 5 by from Amazing story even if you don't understand finance I don't know much about the finance world or many of the terms but the author did a great job explaining the terms that you really needed to understand. Other than the financial aspect, the lives of the characters and their dynamics were interesting to follow.
Date published: 2018-06-18

Editorial Reviews

“A thrilling tour de force of reporting, revelation and reasoning. For anyone who wants to understand what really went on inside a scam of epic proportions, The Spider Network is unmissable.”