Black Edge: Inside Information, Dirty Money, and the Quest to Bring Down the Most Wanted Man on Wall Street
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 “Gollumâ€; 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.
Country | USA |
Brand | Mariner |
Manufacturer | Mariner Books |
Binding | Paperback |
ItemPartNumber | 9780062452993 |
ReleaseDate | 2018-03-06 |
UnitCount | 1 |
EANs | 9780062452993 |