Bibliograph

Open secret, the global banking conspiracy that swindled investors out of billions, Erin Arvedlund

Type

Label

Open secret, the global banking conspiracy that swindled investors out of billions, Erin Arvedlund

Language

eng

Bibliography note

Includes bibliographical references and index

Illustrations

illustrations

Index

index present

Literary Form

non fiction

Main title

Open secret

Nature of contents

bibliography

Responsibility statement

Erin Arvedlund

Sub title

the global banking conspiracy that swindled investors out of billions

Summary

"A bestselling financial reporter exposes the decades-long banking conspiracy that swindled ordinary investors out of billions. Following her national bestseller Too Good to Be True, the inside story of the Bernie Madoff scandal, Erin Arvedlund brings her reporting chops and deep financial expertise to the first book to tell the full story of the Libor scandal. In 2012, news broke that a group of young, chummy bankers had, for years, been colluding to manipulate the London Interbank Offered Rate--the interest rate that determines how money is borrowed and lent throughout the world. They set the Libor higher or lower to suit each others' needs, while ordinary savers and investors suffered without even knowing it. It was a classic "open secret" among competitors that cost countless victims as much as $1 trillion. Arvedlund takes us behind the scenes of elite firms like Barclays Capital, where twenty-something masters of the universe played fast and loose, while their bosses looked the other way. She alsoexamines the failures of prominent regulators and other officials"--, Provided by publisher

Table Of Contents

Is LIBOR a lie? -- Yanking the yen -- The world's most important number -- What was really happening? -- Hedging the LIBOR -- The golden banker -- An open matter -- Barclays and other bad banks -- Trials, fines, justice? -- The victims

Classification