David Enrich
eBook, ePUB

The Spider Network (eBook, ePUB)

How a Math Genius and a Gang of Scheming Bankers Pulled Off One of the Greatest Scams in History

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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: Liborthe London interbank offered rate, which determines inter...

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