The Fix (eBook)

How Bankers Lied, Cheated and Colluded to Rig the World's Most Important Number

Liam Vaughan, Gavin Finch (Autoren)

eBook Download: PDF

2016
John Wiley & Sons (Verlag)
978-1-118-99574-7 (ISBN)

Infos

'The first thing you think is where's the edge, where can I make a bit more money, how can I push, push the boundaries. But the point is, you are greedy, you want every little bit of money that you can possibly get because, like I say, that is how you are judged, that is your performance metric'
-Tom Hayes, 2013

In the midst of the financial crisis, Tom Hayes and his network of traders and brokers from Wall Street's leading firms set to work engineering the biggest financial conspiracy ever seen. As the rest of the world burned, they came together on secret chat rooms and late night phone calls to hatch an audacious plan to rig Libor, the 'world's most important number' and the basis for $350 trillion of securities from mortgages to loans to derivatives. Without the persistence of a rag-tag team of investigators from the U.S., they would have got away with it....

The Fix by award-winning Bloomberg journalists Liam Vaughan and Gavin Finch, is the inside story of the Libor scandal, told through the journey of the man at the centre of it: a young, scruffy, socially awkward misfit from England whose genius for math and obsessive personality made him a trading phenomenon, but ultimately paved the way for his own downfall.

Based on hundreds of interviews, and unprecedented access to the traders and brokers involved, and the investigators who caught up with them, The Fix provides a rare look into the dark heart of global finance at the start of the 21st Century.

LIAM VAUGHAN and GAVIN FINCH write about financial crime for Bloomberg and Businessweek magazine. In 2013, they uncovered a global conspiracy to manipulate the $5 trillion a day foreign exchange market, sparking investigations on three continents that to date have resulted in $10 billion in fines for banks including JPMorgan, Barclays and UBS.
In 2014, they were awarded the prestigious Gerald Loeb Award for excellence in business journalism and the Harold Wincott prize for the best financial journalism of the year.

---

"e;The first thing you think is where's the edge, where can I make a bit more money, how can I push, push the boundaries. But the point is, you are greedy, you want every little bit of money that you can possibly get because, like I say, that is how you are judged, that is your performance metric"e; Tom Hayes, 2013 In the midst of the financial crisis, Tom Hayes and his network of traders and brokers from Wall Street's leading firms set to work engineering the biggest financial conspiracy ever seen. As the rest of the world burned, they came together on secret chat rooms and late night phone calls to hatch an audacious plan to rig Libor, the 'world's most important number' and the basis for $350 trillion of securities from mortgages to loans to derivatives. Without the persistence of a rag-tag team of investigators from the U.S., they would have got away with it.... The Fix by award-winning Bloomberg journalists Liam Vaughan and Gavin Finch, is the inside story of the Libor scandal, told through the journey of the man at the centre of it: a young, scruffy, socially awkward misfit from England whose genius for math and obsessive personality made him a trading phenomenon, but ultimately paved the way for his own downfall. Based on hundreds of interviews, and unprecedented access to the traders and brokers involved, and the investigators who caught up with them, The Fix provides a rare look into the dark heart of global finance at the start of the 21st Century.

Inhalt

The Fix 3
Contents 9
Introduction 11
1 The End of the World 15
2 Tommy Chocolate 19
3 Beware of Greeks Bearing Gifts 27
4 A Day in the Life 33
5 Buy the Cash Boys a Curry! 39
6 Anything With Four Legs 53
7 No Ones Clean-Clean 63
8 The Sheep Will Follow 75
9 Escape to London 83
10 Goodbye, Big Nose 91
11 The Call 101
12 Crossing the Street 115
13 “What the Fuck Kind of Bank Is This?” 125
14 Just Keep Swimming 137
15 The Ballad of Diamond Bob 147
16 The Switcheroo 161
17 The Trial 171
Afterword 181
Epilogue: The Wild West 185
Notes 189
Introduction 189
Chapter 1 189
Chapter 2 189
Chapter 3 190
Chapter 4 191
Chapter 5 191
Chapter 6 191
Chapter 7 192
Chapter 8 193
Chapter 9 194
Chapter 10 195
Chapter 11 195
Chapter 12 197
Chapter 13 198
Chapter 14 199
Chapter 15 199
Chapter 16 201
Chapter 17 202
Epilogue 202
Acknowledgments 205
About the Authors 207
Index 209
EULA 216

Produkt-Details

• Erscheint lt. Verlag: 22.11.2016
• Reihe/Serie: Bloomberg
• Reihe/Serie: Bloomberg
• Sprache: englisch
• Themenwelt: Recht / Steuern ► Wirtschaftsrecht
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
• Themenwelt: Betriebswirtschaft / Management ► Spezielle Betriebswirtschaftslehre ► Bankbetriebslehre
• Schlagworte: cftc • Commodity Futures Trading Commission • Crash of 2008 • Derivatives • Finance & Investments • Finanz- u. Anlagewesen • Finanzwesen • Gavin Finch • Goldman Sachs • interest rate manipulation • Interest Rate Model • Interest rate modelling • Lehman Brothers • Libor • Libor businessweek • libor investigation • Libor scandal • London bank fraud • London Interbank Offered Rate • <p>Liam Vaughan • Rainman Hayes • Rainman Libor • rainman</p> • real estate crash • the death of money • the fix • Thomas Hayes • Tom Hayes • UBS • White Collar Crime
• ISBN-10: 1-118-99574-0 / 1118995740
• ISBN-13: 978-1-118-99574-7 / 9781118995747