The Spider Network

Archival Summary & Scope

SHORT-LISTED FOR THE FINANCIAL TIMES BUSINESS BOOK OF THE YEAR

The Wall Street Journal's award-winning business reporter unveils one of history's greatest financial scandals: the rigging of Libor. In 2006, brilliant but troubled mathematician Tom Hayes led the "Spider Network"—a group of colorful confederates and a deeply corrupt banking system—to illegally manipulate the London Interbank Offered Rate (Libor), the benchmark for trillions in global loans. This audacious scheme generated immense fortunes until it unraveled dramatically. Praised as a "fast-paced John le Carré thriller" (New York Times) and "jaw-dropping" (Financial Times), *The Spider Network* provides a gripping account of the scam and a provocative examination of a warped financial system. The paperback edition includes a new chapter discussing further fallout from the scandal.