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Open secret : the global banking conspiracy that swindled investors out of billions

Title
Open secret : the global banking conspiracy that swindled investors out of billions / Erin Arvedlund.
Author
Arvedlund, Erin
Publication
New York : Portfolio/Penguin, 2014.

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TextUse in library JBE 15-22Schwarzman Building M2 - General Research Room 315

Details

Description
xiv, 290 pages : illustrations; 24 cm
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 also examines the failures of prominent regulators and other officials"--
  • "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 also examines the failures of prominent regulators and other officials"--
Subjects
Bibliography (note)
  • Includes bibliographical references (pages 251-278) and index.
Call Number
JBE 15-22
ISBN
  • 9781591846680
  • 1591846684
LCCN
2014021118
OCLC
2014021118
Author
Arvedlund, Erin, author.
Title
Open secret : the global banking conspiracy that swindled investors out of billions / Erin Arvedlund.
Publisher
New York : Portfolio/Penguin, 2014.
Type of Content
text
Type of Medium
unmediated
Type of Carrier
volume
Bibliography
Includes bibliographical references (pages 251-278) and index.
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Research Call Number
JBE 15-22
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