<?xml version="1.0" encoding="UTF-8" standalone="yes"?><oembed><version><![CDATA[1.0]]></version><provider_name><![CDATA[Cortical Chauvinism]]></provider_name><provider_url><![CDATA[http://corticalchauvinism.com]]></provider_url><author_name><![CDATA[m0casa02]]></author_name><author_url><![CDATA[https://corticalchauvinism.com/author/m0casa02/]]></author_url><title><![CDATA[How the FBI Trapped the Libor Scandal&#8217;s&nbsp;Mastermind]]></title><type><![CDATA[link]]></type><html><![CDATA[<p>The following is an excerpt from the book Spider Network written by David Enrich. The same can be obtained from Amazon on pre-order for $15.59 hardbound. The book cover summarizes the book&#8217;s narrative: The wild story of a math genius, a group of backstabbing bankers, and one of the greatest scams in financial history. The excerpt was obtained from an article published today by the Wall Street Journal (<a href="http://on.wsj.com/2n6FIbg" rel="nofollow">http://on.wsj.com/2n6FIbg</a>). Mr. Enrich is an award winning reporter for the Wall Street Journal.</p>
<p>&#8220;On a mild, damp March afternoon in 2011, Sarah Tighe and her husband Tom Hayes arrived in the prenatal wing of London&#8217;s University College Hospital. They were there for Ms. Tighe&#8217;s 12-week pregnancy scan.&#8221;</p>
<p>&#8220;The pregnancy was off to a difficult start. Ms. Tighe had suffered from severe vomiting sickness. Mr Hayes, a disheveled, mildly autistic 32 year-year-old mathematician, hadn&#8217;t been helping matters. He didn&#8217;t seem especially concerned with her discomfort. Instead he was preoccupied with his favorite British soccer team, Queen&#8217;s Park Rangers, and his firing months earlier from Citigroup, which had accused him of trying to manipulate an an important interest rate called Libor.&#8221;</p>
<p>&#8220;Rebuffed by several other banks where he&#8217;d  sought jobs, Mr. Hayes was slowly coming to terms with the fact that his career as a wildly successful trader had come to an end. More troubling, he&#8217;d heard rumors that governments were investigating his conduct.&#8221;</p>
<p>&#8220;The authorities were hunting for bankers to hold accountable for the industry&#8217;s many sins, and Mr. Hayes was blundering into an elaborate trap, cementing his status as their top target.&#8221;</p>
<p>Thus far a very interesting read. I already pre-ordered my copy.</p>
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