Barometer of Fear

An Insider's Account of Rogue Trading and the Greatest Banking Scandal in History

By: Alexis Stenfors

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Paperback | 15 May 2017

At a Glance

Paperback
336 Pages

Dimensions(cm)
19.56 x 12.95 x 2.54

Paperback

$29.99

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In Barometer of Fear, former rogue trader Alexis Stenfors guides us through the shadowy world of modern banking, providing an insider's account of the secret practices and powers that have allowed banks to profit from systematic deception. Stenfors speaks from personal experience to reveal the murky truth about banks and how the rigging of the London Interbank Offered Rate (LIBOR), which is theoretically supposed to provide a barometer of the health of the global financial system, led to the biggest banking scandal in history, uncovered in 2012.

But was the LIBOR scandal the work of a few bad apples, or an inevitable result of a financial system that is rotten to its core? In this remarkable behind the scenes report, Stenfors offers a frightening look at the secrecy and deception-much of which still continues to this day. Stenfors provides astonishing and often shocking insights and stories from his time on the trading floor, in addition to describing his spectacular fall from grace as a banker at Merrill Lynch. In doing so, he draws back the curtain on a realm that for too long has remained hidden from public view.

Industry Reviews

The most shocking element of Stenfors's new book is that it confirms that the economic crisis, which was effectively created by the banks, did very little to make the banks address their bad habits. * Guardian *
[Stenfors] has written a beautifully literate, Jonathan Swift-referencing book about the dark side of the City and in particular Libor, the London interbank offered rate that was once dubbed the "barometer of fear". * The Times *
A searingly honest account of the activities of traders in the world's global markets, written in an accessible style by a brilliant, but touchingly human trader who found himself at the very vortex of the great financial crisis. Barometer of Fear offers deep insights in to the workings of the machinery that is the global financial system. * Ann Pettifor, author of The Production of Money and Just Money: How Society Can Break the Despotic Power of Finance *
A fascinating insight into the culture of modern banking and the psychology of risk taking on the trading floor. * John Plender, Financial Times columnist *
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. * Paul Dembinski, Observatoire de la Finance *

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