Barometer of Fear: Rogue Trading and the LIBOR Scandal torrent

Barometer of Fear: An Insider’s Account of Rogue Trading and the Greatest Banking Scandal in History - Alexis Stenfors [epub]

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—that have allowed banks to profit from systematic deception.

Containing remarkable and often shocking insights derived from Stenfors’ own experiences in the dealing room, as well as his spectacular fall from grace at Merrill Lynch, Barometer of Fear draws back the curtain on a realm that for too long has remained hidden from public view.

Alexis Stenfors spent fifteen 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.

Hardcover: 252 pages
Publisher: Zed Books (August 15, 2017)