Erin Arvedlund's Books

Too Good to Be True

The Rise and Fall of Bernie Madoff

By: Erin Arvedlund

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Too Good to Be True

The Rise and Fall of Bernie Madoff

By: Erin Arvedlund

The untold story of the Madoff scandal, by one of the first journalists to question his investment practices Despite all the headlines about Bernard Madoff, he is still shrouded in mystery. How did he fool so many smart investors for so long? Who among his family and employees knew the truth? The person best qualified to answer these questions is Erin Arvedlund. In early 2001, she was suspicious of the amazing returns of Madoff's hedge fund. Her subsequent article in Barron's could have prevented a lot of misery, had the SEC followed up. Arvedlund presents a sweeping narrative of Madoff's career-from his youth in Queens, New York, to his early days working for his fatherin- law, and finally to infamy as the world's most notorious swindler. Readers will be fascinated by Arvedlund's portrayal of Madoff, his empire, and all those who never considered that he might be too good to be true.

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Page Count

329

Publisher

Penguin

Published Date

ISBN 10

1591842999

ISBN 13

9781591842996

Madoff

The Man Who Stole $65 Billion

By: Erin Arvedlund

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Madoff

The Man Who Stole $65 Billion

By: Erin Arvedlund

Take the combined fortunes of Bill Gates, Tiger Woods and Roman Abramovich. Now imagine someone stealing that much money - and being hailed as a financial genius. That man is Bernard Madoff. Backed by governments and global banks, Madoff defrauded $65 billion from charities and individual investors including Stephen Spielberg. Finally turned in by his own sons, Madoff opened his door in his dressing gown to be arrested by the FBI. Eleven charges and eleven guilty verdicts later he swapped his penthouse for a prison cell. Only $1 billion was left. Madoff is the first definitive account of the rise and fall of the biggest fraudster ever. It's a story of greed, betrayal and lies, of remorseless risk-taking, family tragedy and financial disaster. Investigative reporter Erin Arvedlund was the first to expose Madoff back in 2001, but Wall Street and the world didn't listen. In this astonishing book she answers the crucial unsolved questions: why and when did Madoff turn his business into a massive fraud? How did he fool so many investors for so long? Who knew the truth? And who, ultimately, is Bernard Madoff?

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Page Count

380

Publisher

Penguin UK

Published Date

ISBN 10

0141932740

ISBN 13

9780141932743

Open Secret

The Global Banking Conspiracy That Swindled Investors Out of Billions

By: Erin Arvedlund

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Open Secret

The Global Banking Conspiracy That Swindled Investors Out of Billions

By: Erin Arvedlund

“Gaming the LIBOR—that is, fixing the price of money—had become just that: a game. Playing it was the price of admission to a club of men who socialized together, skied in Europe courtesy of brokers and expense accounts, and reaped million-dollar bonuses.” In the midst of the financial crisis of 2008, rumors swirled that a sinister scandal was brewing deep in the heart of London. Some suspected that behind closed doors, a group of chummy young bankers had been cheating the system through interest rate machinations. But with most eyes focused on the crisis rippling through Wall Street and the rest of the world, the story remained an “open secret” among competitors. Soon enough, the scandal became public and dozens of bankers and their bosses were caught red-handed. Several major banks and hedge funds were manipulating and misreporting their daily submission of the London Interbank Offered Rate, better known as the LIBOR. As the main interest rate that pulses through the banking community, the LIBOR was supposed to represent the average rate banks charge each other for loans, effectively setting short-term interest rates around the world for trillions of dollars in financial contracts. But the LIBOR wasn’t an average; it was a combination of guesswork and outright lies told by scheming bankers who didn’t want to signal to the rest of the market that they were in trouble. The manipulation of the “world’s most important number” was even greater than many realized. The bankers kept things looking good for themselves and their pals while the financial crisis raged on. Now Erin Arvedlund, the bestselling author of Too Good to Be True, reveals how this global network created and perpetuated a multiyear scam against the financial system. She uncovers how the corrupt practice of altering the key interest rate occurred through an unregulated and informal honor system, in which young masters of the universe played fast and loose, while their more seasoned bosses looked the other way (and would later escape much of the blame). It was a classic private understanding among a small group of competitors—you scratch my back today, I’ll scratch yours tomorrow. Arvedlund takes us behind the scenes of elite firms like Barclays Capital, UBS, Rabobank, and Citigroup, and shows how they hurt ordinary investors—from students taking out loans to homeowners paying mortgages to cities like Philadelphia and Oakland. The cost to the victims: as much as $1 trillion. She also examines the laxity of prominent regulators and central bankers, and exposes the role of key figures such as: Tom Hayes: A senior trader for the Swiss financial giant UBS who worked with traders across eight other banks to influence the yen LIBOR. Bob Diamond: The shrewd multimillionaire American CEO of Barclays Capital, the British bank whose traders have been implicated in the manipulation of the LIBOR. Mervyn King: The governor of the Bank of England, who ignored U.S. Treasury secretary Tim Geithner’s repeated recommendations to establish stricter regulations over the interest rate. Arvedlund pulls back the curtain on one of the great financial scandals of our time, uncovering how millions of ordinary investors around the globe were swindled by the corruption and greed of a few men.

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Page Count

284

Publisher

Penguin

Published Date

ISBN 10

1101635762

ISBN 13

9781101635766

Too Good to Be True

The Rise and Fall of Bernie Madoff

By: Erin Arvedlund

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Too Good to Be True

The Rise and Fall of Bernie Madoff

By: Erin Arvedlund

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N/A

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Solve jigsaw puzzle

Age

Page Count

329

Publisher

Penguin

Published Date

ISBN 10

1591842999

ISBN 13

9781591842996

Open Secret

The Global Banking Conspiracy That Swindled Investors Out of Billions

By: Erin Arvedlund

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Open Secret

The Global Banking Conspiracy That Swindled Investors Out of Billions

By: Erin Arvedlund

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Solve jigsaw puzzle

Age

Page Count

284

Publisher

Penguin

Published Date

ISBN 10

1101635762

ISBN 13

9781101635766

Open Secret

Inside the Libor Conspiracy

By: Erin Arvedlund

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Open Secret

Inside the Libor Conspiracy

By: Erin Arvedlund

Open Secret tells the story of how a handful of London and Wall Street traders and top commercial and Central Bankers helped create and perpetuate a deceptive interest-rate swindle that cost $1 trillion. Arvedlund argues that for over a decade, the Bank of England and the British Banking Association secretly worked together to set the London Interbank Offered Rate, known as Libor. Open Secret weaves a chronological narrative that binds together the history of Libor with an examination of all of the colourful characters involved, as well as an exploration of the damage the Libor scandal has caused to banks and ordinary people.

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Page Count

304

Publisher

Portfolio (Hardcover)

Published Date

ISBN 10

0670923850

ISBN 13

9780670923854

Book's by Erin Arvedlund

Too Good to Be True

Too Good to Be True

Madoff

Madoff

Open Secret

Open Secret

Too Good to Be True

Too Good to Be True

Open Secret

Open Secret

Open Secret

Open Secret

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