Paper $16.95 ISBN: 9781783609284 Published May 2017 For sale in North and South America only
Cloth $95.00 ISBN: 9781783609291 Will Publish August 2017 For sale in North and South America only

Barometer of Fear

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

Alexis Stenfors

Barometer of Fear

Alexis Stenfors

Distributed for Zed Books

252 pages | 5 x 7 1/2
Paper $16.95 ISBN: 9781783609284 Published May 2017 For sale in North and South America only
Cloth $95.00 ISBN: 9781783609291 Will Publish August 2017 For sale in North and South America only
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 Stenfor’s 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.
 
Review Quotes
Financial Times
“A fascinating insight into the culture of modern banking and the psychology of risk-taking on the trading floor.”
Times
“[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.’”
Guardian
“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.”
Ann Pettifor, author of Just Money: How Society Can Break the Despotic Power of Finance
“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.“

 
Paul Dembinski, Observatoire de la Finance
“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.”
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