!!> Download ➼ Het Libor-schandaal ➾ Author David Enrich – Pcusati.info

!!> Download ➼ Het Libor-schandaal  ➾ Author David Enrich – Pcusati.info 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. 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 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 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 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

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