Het Libor-schandaal



De Libor Is De Rentevoet Waarop Wereldwijd Ontelbare Leningen Zoals Bijvoorbeeld Hypotheken En Creditcardkredieten Gebaseerd Zijn In 2006 Kwam Er Een Schokkende Bankfraude Aan Het Licht Een Groep Handelaren Bleek Al Geruime Tijd De Libor Te Manipuleren Dat Deden Ze Door Kunstmatig Hoge Of Lage Rentestanden Door Te Geven Daarmee Boekten Ze Zelf Enorme Winsten, Ten Koste Van Ontelbare Bedrijven, Instellingen En Particulieren.Tom Hayes, Een Ietwat Autistische Whizzkid, Werd Naar Voren Geschoven Als De Zondebok Het Libor Schandaal Onthult Wie Er Nog Meer Achter De Fraude Zaten En Hoe Het Mogelijk Was Dat De Handelaren Zo Lang Hun Gang Konden Gaan.Het Libor-schandaal

Is a well-known author, some of his books are a fascination for readers like in the Het Libor-schandaal book, this is one of the most wanted David Enrich author readers around the world.

[KINDLE] ❄ Het Libor-schandaal  ❦ David Enrich – Firstchance10k.co.uk
  • Paperback
  • 462 pages
  • Het Libor-schandaal
  • David Enrich
  • Dutch
  • 09 February 2019
  • 9789402727401

10 thoughts on “Het Libor-schandaal

  1. says:

    A very cool research on a very space cadet issue that our modern world, no matter how sophisticated we think it be, was prone to at up until a very recent point And probably still is, I don t see this process becoming separate from judgement Q Spread out across time zones and continents, a group of bankers, brokers, and traders had tried to skew interest rates that served not only as the foundation of trillions of dollars of loans, but also as an essential vertebra of the financial system itself It all boiled down to something called Libor an acronym for the London interbank offered rate, it s often known as the world s most important number Financial instruments all over the globe a volume so awesome, well into the tens of trillions of dollars, that it is hard to accurately quantify hinge on tiny movements in Libor In the United States, the interest rates on most variable rate mortgages are based on Libor So are many auto loans, student loans, credit card loans, and on and on almost anything that doesn t have a fixed interest rate The amounts that big companies pay on multibillion dollar loans are often determined by Libor Trillions of dollars of exotic sounding instruments called derivatives are linked to the ubiquitous rate, and they have the ability to touch virtually everyone Pension funds, university endowments, cities and towns, small businesses and giant compani...

  2. says:

    The most disturbing thing about this book wasn t the fraud It was the culture that incentivized and looked the other way while the fraud was committed I lived in this world the world of Wall Street for than 20 years I saw the culture from the inside and Enrich absolutely nailed what it felt like Customers are dopes to be taken advantage of human value is determined by how much money you make and ethical values are a sign of weakness It is insidious and takes a toll on how one views the world That is not to suggest that there is no one in financial services with morals I m sure there are some But the culture of big money banks provides ample incentive to ignore the rules created to assure fairness in the marketplace If someone isn t smart enough to avoid being cheated, the unwritten rule states, then they deserve what they get It is appalling how widespread the LIBOR fixing fraud was and how few were held to task for defrauding the average Joe Yet, that has been the recurring pattern in all of the major Wall Street based financial fraud cases Someone is singled out as the scapegoat and all the senior managers, who are aware but look the other way, get off without even a slap on the wrist My career never crossed paths with the legions of traders and brokers...

  3. says:

    Yesterday, April 6, 2017 the very same Southwark Crown Court that had previously sentenced Tom Hayes to 14 years in prison arrived at a very different decision in the case of his Barclays counterparts, Ryan Reich and Stylianos Contogoulas, making for some very poignant reading as I was finishing The Spider Network.The argument David Enrich builds over 450 fact packed pages could not be simpler on both sides of the Atlantic the justice system is starved of both resources and expertise and has repurposed itself to closing cases by pinning them on the lowest credible perpetrator conversely, recent troubles notwithstanding, the banking giants control billions and deal in trillions When the world went upside down in 2008 and the public was baying for blood, a natural alliance was formed between the justice system and the banks with the simple aim of bigging up and scapegoating an Aspergers sufferer who had been careless about the manner in which he d gone about doing the job his superiors 100% knew he was doing, had fully encouraged him to do and had headhunted him from one bank to another to carry on doing.I totally buy it, and, now there s one guy behind bars to atone for everybody s sins, so do the courts, it seems.And yet, for all its unspeakably detailed portraits, histories and descriptions, for all the evident access the author has had to the main characters in ...

  4. says:

    o gr matu ar viduslaikiem rakstur gu nosaukumu pa pusv ku es ieraudz ju J n Roz Uz v ka tika sol ts, ka esot detekt vam l dz ga, saisto i uzrakst ta un dikti l dz ga Michael Lewis uz to ar iekritu Pirku vien nost, jo p d jos m ne us man gr matu pirkumi diez ko neved s, viena gr mata m nes ir dikti konservat vi S ku las t t l t pat, braucot m j s ar vilcienu.2006 gad ba ieru, treideru un brokeru grupa, kas p rst v ja liel k s finan u instit cijas, non ca pie p rsteidzo a secin juma Libors Londonas starpbanku tirgus likme, kas nosaka procentu likmi aiz mumiem triljonu v rt b vis pasaul , ir atkar gs no nelielas administratoru grupas Bija iesp jams manipul jot ar tiem ieg t milz gu pe u sarun jot likmes izmai u par p ris procentu da V l k par galveno gr k zi atz s k du Tom Hayes, ta u liel k da a labuma guv ju paliks neskarti K d t un kas paties b notika, to izst st s gr mata.Atz u uzreiz, ka las t jam ir kaut nedaudz j apj dz k str d pasaules finan u tirgus, starpbanku transakcijas un k tiek noteiktas procentu likmes Autors gan viet m cen as o to izskaidrot, bet liel koties m t jas ar terminiem pa labi un pa kreisi, un las t jam n kas kulties pa am,...

  5. says:

    This is the true story of a young man, Tom Hayes, who may or may not have understood that manipulating stocks was wrong He apparently had Asberger Syndrome and, with an ability to hyper focus, bordering on obsession, Hayes was out to achieve success by any means possible.Why might he not have understood that manipulating a stock to go up or down to get people to invest or not is not ethical, moral, or even legal Because apparently it was the norm for many stock brokers and investors And with Asberger s he was a concrete thinker.In The Spider Network we get a close up view of the people who work for banks and large companies and how they massively profit from stock market investments We also get a personal view inside one eccentric man s world to gain an understanding as to how he was able to operate and profi...

  6. says:

    This is a story about how prosecutors bankers can go wrong When the entire system is involved in corruption as was obvious with LIBOR and people find out about it and get mad, someone has to go down Who do you pick Usually someone vulnerable, sometimes that person was a particularly bad offender This book pairs nicely with Black Edge where someone went to jail and the rest of the industry stayed ...

  7. says:

    The Rest of the Story Since this book s publication, the following related events have taken place Libor will be phased out in 2021 Two Barclays traders acquitted of Libor related charges in the UK I believe these are the prosecutions mentioned in a footnote at Kindle location 7082 Two other traders, from Dutch Rabobank, had their US convictions overturned The convictions are mentioned in this book at location 5917 Tom Hayes, the Math Genius of the title, has complained to police that a government witness at his trial misled the court.Also, the Tom Hayes Support Group crowdfunding for a new appeal has a Twitter feed, website, and a fundraising site The website calls author David Enrich s Wall Street Journal account of the Hayes Libor scandal upon which this book expands the most accurate printed version to date.Book Review This book s strength is also its weakness.A book like this is a witness, and as a witness this is a great book The author explains that, in an instance of good fortune which tends to find people who work hard, he got both Hayes and his wife, after the conviction of Hayes, to put an enormous pile of previously off the record communications on the record He also acquired another jour...

  8. says:

    This is a great work of journalism that reads like a thriller I enjoyed it all the because I had previously read David Enrich s reporting on Tom Hayes and his trial in the Wall Street Journal two years ago Here s the central question if a trader rigs Libor the rate that determines your mortgage payments and credit card bills would you blame him or his bosses who expect that of him, or the system where everyone who can is rigging it to make millons What Tom Hayes did was wrong, but he was made a scapegoat while the people who rewarded him for rigging Libor rates went scot free Everyone who colluded with him turned around when investigators closed in and threw Hayes under the bus The saddest part is that Hayes, a mathematical prodigy and one of the best financial traders, never realized that people he thought of as friends would not hesitate to turn on him.That doesn t mean what he did was right a lot of that in the book , but it does force us to question the measures taken by governments after the 2008 financial crisis Banks paid a lot in fines, but almost all of its top brass not just escaped jail but made millions off the crisis Something similar happened with the Libor rigging...

  9. says:

    Full disclosure I didn t finish reading this book As a business school academic, I ve read a lot of the literature that has been spawned by financial scandals, in the hope of finding books to engage my students Some authors Michael Lewis, for example manage to spin a really gripping story out of often unpromising material The journalist David Enrich an oddly resonant surname doesn t pull it off.The over exuberant title gave me pause before I d even started reading when I requested the ARC from Netgalley I was not aware of the part after the colon The lengthy dramatis personae at the start was also a bit worrying the idea that I would need to keep referring back to identify members of the cast suggested that the author might not have done a very good job of characterisation But the most off putting aspect for me was ...

  10. says:

    An interesting look at the Libor scandal from an American investigative journalist lens.The book charts the story of how the Libor rate the London interbank lending rate that many variable rate products such as credit cards depend on was manipulated, thus affecting many unsuspecting individuals worldwide.This is a book for those that don t have much understanding of the financial workings that underpin the financial sector, with simple to understand explanations and examples to illustrate the issues For those that do, there are some fascinating snippets of the history of financial instruments and the characters behind them, although you d have to like I had to grin and bear the at times over zealous banker bashing that the author occasionally gets drawn into Overall, an interesting mix of investigative journalism and history that would have been brilliant had it not viewe...

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