Description

Book Synopsis

SHORT-LISTED FOR THE FINANCIAL TIMES BUSINESS BOOK OF THE YEAR

The 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 ma

The Spider Network

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    A Hardback by David Enrich

    £23.99

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    RRP £29.99 – you save £6.00 (20%)

    Order before 4pm tomorrow for delivery by Mon 2 Nov 2026.

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      Book details

      Publisher Harper Collins
      Imprint Collins
      Published 21 March 2017
      ISBN-13 9780062452986
      978-0062452986
      ISBN-10 0062452983

      Description

      Book Synopsis

      SHORT-LISTED FOR THE FINANCIAL TIMES BUSINESS BOOK OF THE YEAR

      The 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 ma

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