Barometer of Fear

Labelled a 'rogue trader' after a mismarking scandal, Alexis Stenfors reveals the murky truth about banks and how the rigging of LIBOR - described as 'the biggest banking scandal in history' - and the more recent foreign exchange (FX) scandals are just the tip of the iceberg.

Stenfors uncovers how unregulated finance operates, or more precisely how traders think. He exposes a system out of control, incapable of self-restraint, nourishing rogue behaviour and ready to burst again at any time.

Préface
Labelled a 'rogue trader' after a mismarking scandal, Alexis Stenfors reveals the murky truth about banks and how the rigging of LIBOR - described as 'the biggest banking scandal in history' - and the more recent foreign exchange (FX) scandals are just the tip of the iceberg.

Auteur
Alexis Stenfors spent 15 years as a trader at HSBC, Citi, Crédit Agricole and Merrill Lynch. In 2009, he found himself at the centre of a 'mispricing' scandal which would eventually result in him being described as one of the 'world's most infamous rogue traders'. He is currently Senior Lecturer in Economics and Finance at Portsmouth Business School.

Texte du rabat

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 - which have allowed banks to profit from systematic deception. Containing remarkable and often shocking insights derived from his own experiences in the dealing room, as well as his spectacular fall from grace at Merrill Lynch, Barometer of Fear draws back the curtain to a realm that for too long has remained hidden from public view.

Contenu
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