Get The Fix: How Bankers Lied- Cheated and Colluded to Rig the PDF

By Liam Vaughan

ISBN-10: 1118995724

ISBN-13: 9781118995723

ISBN-10: 1118995732

ISBN-13: 9781118995730

ISBN-10: 1118995740

ISBN-13: 9781118995747

ISBN-10: 1118995759

ISBN-13: 9781118995754

"The very first thing you think that is where's the sting, the place am i able to make a piece more cash, how am i able to push, push the limits. however the aspect is, you're grasping, you will want each bit of funds so that you can in all probability get simply because, like I say, that's the way you are judged, that's your functionality metric"
Tom Hayes, 2013

In the midst of the monetary situation, Tom Hayes and his community of investors and agents from Wall Street's major corporations started working engineering the largest monetary conspiracy ever obvious. because the remainder of the area burned, they got here jointly on mystery chat rooms and past due evening mobile calls to hatch an audacious plan to rig Libor, the 'world's most vital quantity' and the root for $350 trillion of securities from mortgages to loans to derivatives. with no the endurance of a rag-tag workforce of investigators from the united states, they'd have gotten away with it....

The Fix by means of award-winning Bloomberg reporters Liam Vaughan and Gavin Finch, is the interior tale of the Libor scandal, advised in the course of the trip of the fellow on the centre of it: a tender, scruffy, socially awkward misfit from England whose genius for math and obsessive character made him a buying and selling phenomenon, yet eventually lead the way for his personal downfall.

Based on 1000s of interviews, and unheard of entry to the investors and agents concerned, and the investigators who stuck up with them, The Fix presents a unprecedented look at the darkish middle of world finance first and foremost of the twenty first Century.

Show description

Read or Download The Fix: How Bankers Lied- Cheated and Colluded to Rig the Worlds Most Important Number PDF

Similar banks & banking books

Get Current Issues in Islamic Banking and Finance: Resilience PDF

The exceptional all over the world improvement over the last decade of Islamic banking and finance is drawing a lot awareness to Southeast Asia, which, at the platform of its personal financial development good fortune, is additionally proving to be the gateway for heart jap petrodollar investments into the 2 nice rising markets of India and China.

Get Cost and Production Functions PDF

This research is the results of an curiosity within the fiscal idea of creation intermittently pursued prior to now 3 years. Over this era i've got acquired huge aid from the place of work of Naval study, first from a private provider consulting agreement without delay with the maths department of the workplace of Naval study and secondly from venture N6 onr-27009 at Princeton Univer­ sity lower than the course of Professor Oskar Morgenstern.

Get Creating the Future with All Finance and Financial PDF

Developing the long run with All Finance and fiscal Conglomerates contains an educational look for an realizing of all finance and monetary conglomerates. It provides a strategic and fiscal research of diversification thoughts and the becoming interface among types of monetary companies.

Additional info for The Fix: How Bankers Lied- Cheated and Colluded to Rig the Worlds Most Important Number

Sample text

K. Prime Minister David Cameron, is in many ways the epitome of the British establishment. Journalists are given tours of the trading floor, then schmoozed over expensive bottles of Barolo from Spencer’s in-house wine collection. S. Lowry. While the ICAP brokers worked hard, they partied even harder. m. hordes of them decamped to the local wine bar Brasserie Roque—“Brasrock” to those in the know— where they mingled with gaggles of women who had traveled in from Essex in the hope of bagging a big-spending city boy.

In fact, he didn’t think Porter even knew his name— he had accidentally called him Patrick the last time they’d bumped into each other. Hayes persisted, coaching his stepbrother on how to make the approach, suggesting he befriend him over a few beers. Tommy Chocolate, the nervy oddball with the superhero duvet, had come a long way. “I thought, oh well, if Peter knows him he might be able to ask as a favor, just to set it on the low side for the next, you know, few days,” Hayes reasoned aloud to his brother, keeping his tone light-hearted.

Before long he has fixes every day. Sometimes he may want the three-month rate to go up and the six-month rate to fall. Other times he might want them all to move higher. Some days his fixes are small, others they are huge. Part of the skill when pushing Libor around A Day in the Life 23 was knowing when to sacrifice a small gain for a big one coming down the track. In every currency there were Libor rates for 15 durations: overnight, one week, two weeks, one month, and then monthly up to a year.

Download PDF sample

The Fix: How Bankers Lied- Cheated and Colluded to Rig the Worlds Most Important Number by Liam Vaughan

by Jeff

Rated 4.33 of 5 – based on 33 votes