The Spider Network: The Wild Story of a Maths Genius and One of the Greatest Scams in Financial History (Paperback)
  • The Spider Network: The Wild Story of a Maths Genius and One of the Greatest Scams in Financial History (Paperback)
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The Spider Network: The Wild Story of a Maths Genius and One of the Greatest Scams in Financial History (Paperback)

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Paperback 496 Pages / Published: 23/03/2017
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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.

Publisher: Ebury Publishing
ISBN: 9780753557501
Number of pages: 496
Weight: 638 g
Dimensions: 234 x 153 x 36 mm


MEDIA REVIEWS
"Anyone with an interest in financial services and in what has gone wrong will find The Spider Network compelling." -- Daniel Finkelstein * The Times *
"a surprisingly human narrative ... truly memorable ... a vivid depiction of the ethos of the core financial institutions upon which the global economy depends" * New York Times *
"a model of investigative financial writing... a more satisfying read than THE BIG SHORT by Michael Lewis" * Literary Review *
"will snare you in its web of deceit, lies, corruption, manipulation and colourful characters. [a] brilliant investigative expose" * Harlan Coben, bestselling thriller author *
"supremely gripping ... a thrilling tour de force of reporting, revelation and reasoning ... unmissable" * Iain Martin, bestselling author of MAKING IT HAPPEN: FRED GOODWIN, RBS AND THE MEN WHO BLEW UP THE BRITISH ECONOMY *

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Reviews

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“Interesting look at the libor financial scandal from an investigative journalist perspective”

An interesting look at the Libor scandal from an American investigative journalist lens.

The book charts the story of how the Libor rate - the London interbank lending rate that many variable-rate products such as... More

Paperback edition
23rd April 2017
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