The Spider Network: How a Math Genius and a Gang of Scheming Bankers Pulled Off One of the Greatest Scams in History By David Enrich

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SHORT-LISTED FOR THE FINANCIAL TIMES BUSINESS BOOK OF THE YEARThe term “Libor” is obscure, but it determines a good deal of our financial lives-the interest rate on our credit card; our student loans; our mortgages; our car payments. How did a math genius, a handful of outrageous confederates, and a deeply corrupt banking system conspire to pickpocket you? They were in your wallet to already. 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 a 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.

At this time of writing, The Ebook The Spider Network: How a Math Genius and a Gang of Scheming Bankers Pulled Off One of the Greatest Scams in History has garnered 8 customer reviews with rating of 5 out of 5 stars. Not a bad score at all as if you round it off, it’s actually a perfect TEN already. From the looks of that rating, we can say the Ebook is Good TO READ!

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This is an amazing psychological study of a modern tragedy, where completely corrupt and hypocritical political and corporate establishments throw a decent, if flawed man under the bus for no reason other to make themselves look good. Tom Hayes is a very talented man, who is on the autism spectrum (many of us in academia and quantitative finance are, he is somewhat further along the spectrum than many), who did not obviously commit any crime (moving the benchmark within the acceptable range was not a crime at the time, and how could he be guilty of collusion, if no one is guilty of colluding with him?), though obviously some of the things he did were in the gray area. I have enormous respect for Hayes' courage in pleading not guilty to the charges - this shows true character. For someone who has been around in the academic and financial spheres, the book rings very true - the hypocrisy and sanctimony ("we are shocked, shocked, that gambling goes on in here") is pretty much par for the course.

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Mobi The Spider Network: How a Math Genius and a Gang of Scheming Bankers Pulled Off One of the Greatest Scams in History with FREE EASY Reading Download Now!

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Mobi The Spider Network: How a Math Genius and a Gang of Scheming Bankers Pulled Off One of the Greatest Scams in History with FREE EASY Reading Download Now!

Mobi The Spider Network: How a Math Genius and a Gang of Scheming Bankers Pulled Off One of the Greatest Scams in History with FREE EASY Reading!

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Best Edition The Spider Network: How a Math Genius and a Gang of Scheming Bankers Pulled Off One of the Greatest Scams in History with FREE EASY Reading Download Now!

Mobi The Spider Network: How a Math Genius and a Gang of Scheming Bankers Pulled Off One of the Greatest Scams in History with FREE EASY Reading Download Now!

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Mobi The Spider Network: How a Math Genius and a Gang of Scheming Bankers Pulled Off One of the Greatest Scams in History with FREE EASY Reading Download Now!

Mobi The Spider Network: How a Math Genius and a Gang of Scheming Bankers Pulled Off One of the Greatest Scams in History with FREE EASY Reading!

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