The Spider Network

The Spider Network Author David Enrich
ISBN-10 9780753552049
Year 2017-03-23
Pages 496
Language en
Publisher Random House
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Listed as an FT book of the month ‘Anyone with an interest in financial services and in what has gone wrong will find The Spider Network compelling.’ - Daniel Finkelstein, The Times ‘Will snare you in its web of deceit, lies, corruption, manipulation and colourful characters. [a] brilliant investigative exposé’ - Harlan Coben, bestselling thriller author ‘A gripping narrative ... impressive reporting and writing chops are on full display ... reads like a fast-paced John le Carré thriller, and never lets up’ - New York Times book review ‘A feat of reporting, and much of it reads like a novel’ - Leigh Gallagher, Washington Post ‘A model of investigative financial writing... a more satisfying read than THE BIG SHORT by Michael Lewis’ - Literary Review ‘Remarkable’, Sunday Times ‘Jaw-dropping’, Financial Times In 2006, an oddball group of bankers, traders and brokers from some of the largest financial institutions made a startling realization: Libor—the London interbank offered rate, which determines the interest rates on trillions in loans worldwide—was set daily by a small group of easily manipulated administrators, and that they could reap huge profits by nudging it fractions of a percent to suit their trading portfolios. Tom Hayes, a brilliant but troubled mathematician, became the lynchpin of a wild alliance that included a prickly French trader nicknamed “Gollum”; the broker “Abbo,” who liked to publicly strip naked when drinking; a nervous Kazakh chicken farmer known as “Derka Derka”; a broker known as “Village” (short for “Village Idiot”) who racked up huge expense account bills; an executive called “Clumpy” because of his patchwork hair loss; and a broker uncreatively nicknamed “Big Nose” who had once been a semi-professional boxer. This group generated incredible riches —until it all unraveled in spectacularly vicious, backstabbing fashion. With exclusive access to key characters and evidence, The Spider Network is not only a rollicking account of the scam, but also a provocative examination of a financial system that was crooked throughout.

The Spider Network

The Spider Network Author David Enrich
ISBN-10 9780062453006
Year 2017-03-21
Pages 528
Language en
Publisher HarperCollins
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The Wall Street Journal's award-winning business reporter unveils the bizarre and sinister story of how a math genius named Tom Hayes, a handful of outrageous confederates, and a deeply corrupt banking system ignited one of the greatest financial scandals in history. 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 the interest rates on trillions in loans worldwide—was set daily by a small group of easily manipulated functionaries, and that they could reap huge profits by nudging it to suit their trading portfolios. Tom Hayes, a brilliant but troubled mathematician, became the lynchpin of a wild alliance that among others included a French trader nicknamed “Gollum”; the broker “Abbo,” who liked to publicly strip naked when drinking; a Kazakh chicken farmer turned something short of financial whiz kid; a broker known as “Village” (short for “Village Idiot”) and fascinated with human-animal sex; an executive called “Clumpy” because of his patchwork hair loss; and a broker uncreatively nicknamed “Big Nose.” Eventually known as the “Spider Network,” Hayes’s circle generated untold riches —until it all unraveled in spectacularly vicious, backstabbing fashion. The Spider Network is not only a rollicking account of the scam, but a provocative examination of a financial system that was crooked throughout, designed to promote envelope-pushing behavior while shielding higher-ups from the consequences of their subordinates’ rapacious actions.

Black Edge

Black Edge Author Sheelah Kolhatkar
ISBN-10 9780812995817
Year 2017-02-07
Pages 368
Language en
Publisher Random House
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NEW YORK TIMES BESTSELLER • The story of the billionaire trader Steven A. Cohen, the rise and fall of his hedge fund, SAC Capital, and the largest insider trading investigation in history—for readers of The Big Short, Den of Thieves, and Dark Money. The rise over the last two decades of a powerful new class of billionaire financiers marks a singular shift in the American economic and political landscape. Their vast reserves of concentrated wealth have allowed a small group of big winners to write their own rules of capitalism and public policy. How did we get here? Through meticulous reporting and powerful storytelling, New Yorker staff writer Sheelah Kolhatkar shows how Steve Cohen became one of the richest and most influential figures in finance—and what happened when the Justice Department put him in its crosshairs. Cohen and his fellow pioneers of the hedge fund industry didn’t lay railroads, build factories, or invent new technologies. Rather, they made their billions through speculation, by placing bets in the market that turned out to be right more often than wrong—and for this they have gained not only extreme personal wealth but formidable influence throughout society. Hedge funds now manage nearly $3 trillion in assets, and competition between them is so fierce that traders will do whatever they can to get an edge. Cohen was one of the industry’s greatest success stories. He mastered poker in high school, went off to Wharton, and in 1992 launched SAC Capital, which he built into a $15 billion empire, almost entirely on the basis of his wizardlike stock trading. He cultivated an air of mystery, reclusiveness, and extreme excess, building a 35,000 square foot mansion in Greenwich, Connecticut, and amassing one of the largest private art collections in the world. On Wall Street, Cohen was revered as a genius. That image was shattered when SAC became the target of a sprawling, seven-year government investigation. Labeled by prosecutors as a “magnet for market cheaters” whose culture encouraged the relentless hunt for “edge”—and even “black edge,” or inside information—SAC was ultimately indicted in connection with a vast insider trading scheme, even as Cohen himself was never charged. Black Edge offers a revelatory look at the gray zone in which so much of Wall Street functions, and a window into the transformation of the U.S. economy. It’s a riveting, true-life legal thriller that takes readers inside the government’s pursuit of Cohen and his employees, and raises urgent questions about the power and wealth of those who sit at the pinnacle of modern Wall Street. Praise for Black Edge “A modern version of Moby-Dick, with wiretaps rather than harpoons.”—Jennifer Senior, The New York Times “Excellent.”—The Economist “If you liked James B. Stewart’s Den of Thieves, Sheelah Kolhatkar’s thrilling Black Edge should be next on your reading list.”—The Wall Street Journal “A lot of people do not trust Wall Street. They regard it as a moneymaking machine for those who work there, which has little interest in practice in its stated aim of channeling capital into businesses and helping them to grow for the broader benefit of society. For such skeptics, Steven Cohen is Exhibit A.”—John Gapper, Financial Times “A richly reported, entertaining tale about the cat-and-mouse game between the government and Cohen.”—Andrew Ross Sorkin, The New York Times Book Review

Lucifer s Banker

Lucifer s Banker Author Bradley C. Birkenfeld
ISBN-10 1626343713
Year 2016-10-18
Pages
Language en
Publisher
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As a private banker working for the largest bank in the world (UBS), Brad Birkenfeld was an expert in Switzerland s shell-game of offshore companies and secret numbered accounts. He wined and dined ultrawealthy clients whose millions of dollars were hidden away from business partners, spouses and tax authorities. As his client list grew, Birkenfeld lived a life of money, fast cars, and beautiful women, but then he discovered that UBS was planning to betray him, so he blew the whistle to the US Government. The Department of Justice scorned Birkenfeld s unprecedented whistleblowing and attempted to silence him with a single charge of conspiracy. Yet Birkenfeld would not be intimidated. He took his secrets to the US Senate, Securities and Exchange Commission and the Internal Revenue Service, where he prevailed. His bombshell revelations helped the US Treasury recover over $12 billion in back taxes, fines and penalties from American tax cheats. But Birkenfeld was shocked to discover that at the same time he was cooperating with the US Government, the Department of Justice was still doggedly pursuing him. He was arrested, pled guilty, and served 31 months in federal prison. When he emerged, the Internal Revenue Service gave him a whistle-blower award for $104 million, the largest such payout in history. A page-turning real-life thriller, "Lucifer s Banker" is a fascinating behind-the-scenes look at the secret Swiss high-net-worth banking industry and a harrowing account of our government s justice system. Readers will follow Birkenfeld as they will share his outrage with the incompetence and possiblecorruption at the Department of Justice, and they will cheer him on as he hammers one of the most well-known and powerful banks in the world."

Why Wall Street Matters

Why Wall Street Matters Author William D. Cohan
ISBN-10 9780399590702
Year 2017-02-28
Pages 192
Language en
Publisher Random House
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A timely, counterintuitive defense of Wall Street and the big banks as the invisible—albeit flawed—engines that power our ideas, and should be made to work better for all of us Maybe you think the banks should be broken up and the bankers should be held accountable for the financial crisis in 2008. Maybe you hate the greed of Wall Street but know that it’s important to the proper functioning of the world economy. Maybe you don’t really understand Wall Street, and phrases such as “credit default swap” make your eyes glaze over. Maybe you are utterly confused by the fact that after attacking Wall Street mercilessly during his campaign, Donald Trump has surrounded himself with Wall Street veterans. But if you like your smart phone or your widescreen TV, your car or your morning bacon, your pension or your 401(k), then—whether you know it or not—you are a fan of Wall Street. William D. Cohan is no knee-jerk advocate for Wall Street and the big banks. He’s one of America’s most respected financial journalists and the progressive bestselling author of House of Cards. He has long been critical of the bad behavior that plagued much of Wall Street in the years leading up to the 2008 financial crisis, and because he spent seventeen years as an investment banker on Wall Street, he is an expert on its inner workings as well. But in recent years he’s become alarmed by the cheap shots and ceaseless vitriol directed at Wall Street’s bankers, traders, and executives—the people whose job it is to provide capital to those who need it, the grease that keeps our economy humming. In this brisk, no-nonsense narrative, Cohan reminds us of the good these institutions do—and the dire consequences for us all if the essential role they play in making our lives better is carelessly curtailed. Praise for William D. Cohan “Cohan writes with an insider’s knowledge of the workings of Wall Street, a reporter’s investigative instincts and a natural storyteller’s narrative command.”—The New York Times “[Cohan is] one of our most able financial journalists.”—Los Angeles Times “A former Wall Street man and a talented writer, [Cohan] has the rare gift not only of understanding the fiendishly complicated goings-on, but also of being able to explain them in terms the lay reader can grasp.”—The Observer (London)

Mail Men

Mail Men Author Adrian Addison
ISBN-10 9781782399711
Year 2017-03-16
Pages
Language en
Publisher Atlantic Books
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"A wonderfully gossipy history" Sunday Times "Riotously Entertaining" New Statesman Perhaps because of the power and fear that the Daily Mail commands, this is the very first book to provide an unauthorized account of the newspaper with more global readers than any other. With a gripping personality-led narrative, informed by well-placed sources, Mail Men investigates the secret behind the Mail's extraordinary longevity and commercial success, from its first edition on 4 May 1896, to its global MailOnline website today. But, it also examines the controversies that have beset the paper - from its owner's flirtation with fascism in the 1930s to its fractious relationship with liberals, celebrities and politicians today. Like being a fly on the wall at one of the most influential offices in the land, Mail Men is the unofficial story of an institution that has become the self-proclaimed voice of middle England, and the adversary of liberals everywhere. Journalist Adrian Addison gives us a revealing insight into the colourful cast of senior 'Mail-Men' (yes, nearly all men) who have moulded the paper through the decades - from Alfred C. Harmsworth, the Mail's founder and first owner to Paul Dacre the awkward reporter who has become one of the most feared, hated, secretive, and respected editors in Britain. An absorbing history of one of the most divisive yet successful newspapers in print today, this is an essential read if you wish to understand modern Britain.

The Fix

The Fix Author Liam Vaughan
ISBN-10 9781118995747
Year 2016-11-22
Pages 216
Language en
Publisher John Wiley & Sons
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"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.

Why Aren t They Shouting

Why Aren t They Shouting Author Kevin Rodgers
ISBN-10 9781473535633
Year 2016-07-14
Pages 320
Language en
Publisher Random House
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When Kevin Rodgers embarked on his career in finance, dealing rooms were filled with clamouring traders and gesticulating salesmen. Nearly three decades later, the feverish bustle has gone and the loudest noise you’re likely to hear is the gentle tapping of keyboards. Why Aren’t They Shouting? is a very personal, often wryly amusing chronicle of this silent revolution that takes us from the days of phone calls, hand signals and alpha males to a world of microwave communications, complex derivatives and computer geeks. In addition, it’s a masterclass in how modern banking works, for those who don’t know their spot FX from their VaR or who struggle to recall precisely how Monte Carlo pricing operates. But it’s also an account of thirty years of seismic change that raises a deeply worrying question: Could it be that the technology that has transformed banking – and that continues to do so – is actually making it ever more unstable?

Barometer of Fear

Barometer of Fear Author Alexis Stenfors
ISBN-10 178360929X
Year 2017-05-15
Pages 252
Language en
Publisher Zed Books
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The LIBOR affair has been described as the biggest banking scandal in history, a deception affecting not only banks but also corporations, pension funds and ordinary people. But was this just the tip of the iceberg? Was the scandal the work of a few bad apples or an inevitable result of a financial system rotten to its core? Labelled "one of the world's most infamous rogue traders" in the wake of a mis-marking scandal, Alexis Stenfors went on to rebuild his life and now guides us through the shadowy world of modern banking, providing an insider's account of the secret practices--including the manipulation of foreign exchange rates--that have allowed banks to profit from systematic deception. Containing remarkable and often shocking insights derived from Stenfor's own experiences in the dealing room, as well as his spectacular fall from grace at Merrill Lynch, Barometer of Fear draws back the curtain on a realm that for too long has remained hidden from public view.

Hatching Twitter

Hatching Twitter Author Nick Bilton
ISBN-10 9781101605233
Year 2013-11-05
Pages 320
Language en
Publisher Penguin
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The dramatic, unlikely story behind the founding of Twitter, by New York Times bestselling author and Vanity Fair special correspondent The San Francisco-based technology company Twitter has become a powerful force in less than ten years. Today it’s everything from a tool for fighting political oppression in the Middle East to a marketing must-have to the world’s living room during live TV events to President Trump’s preferred method of communication. It has hundreds of millions of active users all over the world. But few people know that it nearly fell to pieces early on. In this rousing history that reads like a novel, Hatching Twitter takes readers behind the scenes of Twitter’s early exponential growth, following the four hackers—Ev Williams, Jack Dorsey, Biz Stone, and Noah Glass, who created the cultural juggernaut practically by accident. It’s a drama of betrayed friendships and high-stakes power struggles over money, influence, and control over a company that was growing faster than they could ever imagine. Drawing on hundreds of sources, documents, and internal e-mails, Bilton offers a rarely-seen glimpse of the inner workings of technology startups, venture capital, and Silicon Valley culture.

SuperHubs

SuperHubs Author Sandra Navidi
ISBN-10 9781473645110
Year 2017-01-26
Pages 320
Language en
Publisher Hachette UK
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FOREWORD BY NOURIEL ROUBINI SuperHubs is a rare, behind-the-scenes look at the global financial system and the powerful personal networks through which it is run, at the centre of which sit the Elites - the SuperHubs. Combining an insider's knowledge with principles of network science, Sandra Navidi offers a startling new perspective on how the financial system really operates. SuperHubs reveals what happens at the exclusive, invitation-only platforms - The World Economic Forum in Davos, the meetings of the International Monetary Fund, think-tank gatherings, power lunches, charity events, and private parties. This is the most vivid portrait to date of the global elite: the bank CEOs, fund managers, billionaire financiers and politicians who, through their interlocking relationships and collective influence are transforming the future of our financial system and, for better or worse, shaping our world.

The City

The City Author Tony Norfield
ISBN-10 9781784783679
Year 2016-04-12
Pages 288
Language en
Publisher Verso Books
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Radical insider’s account of how the city of London really works The City, as London’s financial centre is known, is the world’s biggest international banking and foreign exchange market, shaping the development of global capital. It is also, as this groundbreaking book reveals, a crucial part of the mechanism of power in the world economy. Based on the author’s twenty years’ experience of City dealing rooms, The City is an in-depth look at world markets and revenues that exposes how this mechanism works. All big international companies—not just the banks—utilise this system, and The City shows how the operations of the City of London are critical both for British capitalism and for world finance. Tony Norfield details, with shocking and insightful research, the role of the US dollar in global trading, the network of Britishlinked tax havens, the flows of finance around the world and the system of power built upon financial securities. Why do just fifty companies now have control of a large share of world economic production? The City explains how this situation came about, examining the history of the world economy from the postwar period to the present day. If you imagine you don’t like “finance” but have no problem with the capitalist market system, think again: it turns out the two cannot be separated.

Bad Paper

Bad Paper Author Jake Halpern
ISBN-10 9780374711245
Year 2014-10-14
Pages 256
Language en
Publisher Farrar, Straus and Giroux
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The Federal Trade Commission receives more complaints about rogue debt collecting than about any activity besides identity theft. Dramatically and entertainingly, Bad Paper reveals why. It tells the story of Aaron Siegel, a former banking executive, and Brandon Wilson, a former armed robber, who become partners and go in quest of "paper"—the uncollected debts that are sold off by banks for pennies on the dollar. As Aaron and Brandon learn, the world of consumer debt collection is an unregulated shadowland where operators often make unwarranted threats and even collect debts that are not theirs. Introducing an unforgettable cast of strivers and rogues, Jake Halpern chronicles their lives as they manage high-pressure call centers, hunt for paper in Las Vegas casinos, and meet in parked cars to sell the social security numbers and account information of unsuspecting consumers. He also tracks a "package" of debt that is stolen by unscrupulous collectors, leading to a dramatic showdown with guns in a Buffalo corner store. Along the way, he reveals the human cost of a system that compounds the troubles of hardworking Americans and permits banks to ignore their former customers. The result is a vital exposé that is also a bravura feat of storytelling.

Confessions of a Wall Street Insider

Confessions of a Wall Street Insider Author Michael Kimelman
ISBN-10 9781510713383
Year 2017-03-28
Pages 256
Language en
Publisher Skyhorse Publishing, Inc.
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Although he was a suburban husband and father, living a far different life than the “Wolf of Wall Street,” Michael Kimelman had a good run as the cofounder of a hedge fund. He had left a cushy yet suffocating job at a law firm to try his hand at the high-risk life of a proprietary trader — and he did pretty well for himself. But it all came crashing down in the wee hours of November 5, 2009, when the Feds came to his door—almost taking the door off its hinges. While his wife and children were sequestered to a bedroom, Kimelman was marched off in embarrassment in view of his neighbors and TV crews who had been alerted in advance. He was arrested as part of a huge insider trading case, and while he was offered a “sweetheart” no-jail probation plea, he refused, maintaining his innocence. The lion’s share of Confessions of a Wall Street Insider was written while Kimelman was an inmate at Lewisburg Penitentiary. In nearly two years behind bars, he reflected on his experiences before incarceration—rubbing elbows and throwing back far too many cocktails with financial titans and major figures in sports and entertainment (including Leonardo DiCaprio, Alex Rodriguez, Ben Bernanke, and Alan Greenspan, to drop a few names); making and losing hundreds of thousands of dollars in daily gambles on the Street; getting involved with the wrong people, who eventually turned on him; realizing that none of that mattered in the end. As he writes: “Stripped of family, friends, time, and humanity, if there’s ever a place to give one pause, it’s prison . . . Tomorrow is promised to no one.” In Confessions of a Wall Street Insider, he reveals the triumphs, pains, and struggles, and how, in the end, it just might have made him a better person. Skyhorse Publishing, along with our Arcade, Good Books, Sports Publishing, and Yucca imprints, is proud to publish a broad range of biographies, autobiographies, and memoirs. Our list includes biographies on well-known historical figures like Benjamin Franklin, Nelson Mandela, and Alexander Graham Bell, as well as villains from history, such as Heinrich Himmler, John Wayne Gacy, and O. J. Simpson. We have also published survivor stories of World War II, memoirs about overcoming adversity, first-hand tales of adventure, and much more. While not every title we publish becomes a New York Times bestseller or a national bestseller, we are committed to books on subjects that are sometimes overlooked and to authors whose work might not otherwise find a home.

The Billionaire s Apprentice

The Billionaire s Apprentice Author Anita Raghavan
ISBN-10 9781455504039
Year 2013-06-04
Pages 320
Language en
Publisher Business Plus
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Just as WASPs, Irish-Catholics and Our Crowd Jews once made the ascent from immigrants to powerbrokers, it is now the Indian-American's turn. Citigroup, PepsiCo and Mastercard are just a handful of the Fortune 500 companies led by a group known as the "Twice Blessed." Yet little is known about how these Indian emigres (and children of emigres) rose through the ranks. Until now... The collapse of the Galleon Group--a hedge fund that managed more than $7 billion in assets--from criminal charges of insider trading was a sensational case that pitted prosecutor Preet Bharara, himself the son of Indian immigrants, against the best and brightest of the South Asian business community. At the center of the case was self-described King of Kings, Galleon's founder Raj Rajaratnam, a Sri-Lankan-born, Wharton-educated billionaire. But the most shocking allegation was that the éminence grise of Indian business, Rajat Gupta, was Rajaratnam's accomplice and mole. If not for Gupta's nose-to-the-grindstone rise to head up McKinsey & Co and a position on the Goldman Sachs board, men like Rajaratnam would have never made it to the top of America's moneyed elite. Author Anita Raghavan criss-crosses the globe from Wall Street boardrooms to Delhi's Indian Institute of Technology as she uncovers the secrets of this subculture--an incredible tale of triumph, temptation and tragedy.