Description
| Product ID: | 9780750998857 |
| Product Form: | Hardback |
| Country of Manufacture: | GB |
| Title: | Rigged |
| Subtitle: | The Incredible True Story of the Whistleblowers Jailed after Exposing the Rotten Heart of the Financial System |
| Authors: | Author: Andy Verity |
| Page Count: | 348 |
| Subjects: | History, 21st century history: from c 2000 -, History: specific events and topics, Corporate crime / white-collar crime, Banking, Business and Management, History: specific events & topics, Corporate crime, Banking, Business & management, London, Greater London, New York, c 2010 to c 2020 |
| Description: | Select Guide Rating A cover-up at the highest level on both sides of the Atlantic. Evidence implicating bank bosses, central banks and governments in criminality. Whistleblowers wrongly jailed in a series of miscarriages of justice. This is the shocking true story of interest rate rigging Rigged exposes a cover-up at the highest level on both sides of the Atlantic, upending the official story of the biggest scandal since the global financial crisis. It picks up where The Big Short leaves off, as the dark clouds of the financial crisis gather. Banks’ health is judged by an interest rate called Libor (the London Interbank Offered Rate). The higher the Libor, the worse off the bank; too high and it’s goodnight Vienna. Libor is heading skywards. To save themselves from collapse, nationalisation and loss of bonuses, banks instruct traders to manipulate Libor down – a criminal practice known as lowballing. Outraged, traders turn whistleblowers, alerting the authorities. As Rigged reveals, their instructions come first from top bosses – then from central banks and governments. But when the scandal explodes into the news, prosecutors allow banks to cover up the evidence pointing to the top. Instead, they accuse 37 traders of another kind of interest rate ‘rigging’ that no-one had seen as a crime. In nine trials from 2015 to 2019, nineteen are convicted and sentenced. Rigged exclusively shows why all the defendants are innocent, and how any real culprits go unpunished. How could this happen? Turns out, it’s not just the market that’s rigged. It’s the entire system. |
| Imprint Name: | The History Press Ltd |
| Publisher Name: | The History Press Ltd |
| Country of Publication: | GB |
| Publishing Date: | 2023-06-01 |
