Former 'rogue trader' Alexis Stenfors speaks from personal experience to reveal the murky truth about banks and how the rigging of LIBOR - described as 'the biggest banking scandal in history' - is just the tip of the iceberg
The LIBOR affair has been described as the biggest banking scandal in history'. With over 360 trillion dollars worth of financial instruments linked to the LIBOR, the deception has affected not only banks but also corporations, pension funds and ordinary people. But is 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 mispricing 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 and powers which have allowed banks to profit from systematic deception. Containing remarkable and often shocking insights derived from his own experiences on the trading room floor, as well as his spectacular fall from grace at Merrill Lynch,iBarometer of Fear/idraws back the curtain to a realm that for too long has remained hidden from public view.
List of Acronyms Introduction: It's a misunderstanding 1. The Barometer of Fear 2. Why did you do it? 3. Superheroes and Beauty Pageants 4. The LIBOR Illusion 5. The Value of Secrets 6. Conventions and Conspiracies 7. Rotten Apples 8. The Perfect Storm Endnotes Bibliography