All That Glitters: The Fall of Barings
The definitive, classic account of the fall of the House of Baring, the oldest merchant bank in London, in 1995 and the ultimate rogue trader, Nick Leeson, who brought down the venerable institution with speculative investing.
John Gapper, associate editor of the Financial Times, and his coauthor Nicholas Denton, now founder of Gawker Media, interviewed all the major players involved in the collapse of one of England's oldest banks.
All That Glitters reveals the Faustian deal struck between the whizz-kid derivatives traders who seemed to be bringing in huge profits and the old guard who were happy to pocket them without asking too many questions. Gapper and Denton present a thrilling, in-depth account of Nick Leeson's motives and methods for hiding the unauthorized speculative trading as well as the final days of Barings and the last-ditch attempts by politicians and bankers to save the bank.
What people are saying - Write a review
Review: All That Glitters: The Fall Of BaringsUser Review - Goodreads
Very compelling story. I read this shortly after the 2008 crash, and it was awful to see the retelling of the same tale. Nick's trading was an absolute mess, and the consequences were devastating. A very good read. Read full review