The British banker whose unsupervised trading at the Singapore branch of Barings Bank destroyed the bank describes his career and recounts the events that led to his imprisonment
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How could one trader bring down the banking empire that had funded the Napoleonic Wars? This is the story of Nick Leeson, the young gambler who found himself sucked into a terrifying spiral of loss. Disingenuous but nevertheless compelling, this is a portrait of Leeson -- the working-class boy who lived high, at least for a while, in an upper-class world -- and of Barings, banker to the English peerage, but also of the organized chaos that is the Singaporean money market.From Library Journal:
From the opening of the "error account" that allowed him to bury $827 million in losses, to the failure of an audit of his books to detect the cover-up, Leeson in his version of the events that precipitated the fall of Barings Bank blames the stupidity of the institution's hierarchy. Indeed, putting an untested 28-year-old in charge of a trading desk (the Singapore International Monetary Exchange) seems, at best, ill advised. Though Leeson's glib tale of the plucky lower-class kid who fools the fobs that bank the queen's money is clearly designed to win support, his assessment of Barings jibes with Judith Rawnsley's Total Risk (LJ 2/1/96), to date the only reliable work on the downfall of the 200-year-old bank. Despite this, Leeson's recitation of his crimes is the work of a flimflam man. Recommended for collections already owning Rawnsley's title.
Adam Mazmanian, "Library Journal"
Copyright 1996 Reed Business Information, Inc.
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Book Description Little Brown and Company, 1996. Hardcover. Book Condition: New. book. Bookseller Inventory # M0316518565
Book Description Little Brown and Company, 1996. Hardcover. Book Condition: New. Bookseller Inventory # DADAX0316518565
Book Description Little Brown & Co, 1996. Hardcover. Book Condition: New. Never used!. Bookseller Inventory # P110316518565
Book Description Little Brown and Company. Hardcover. Book Condition: New. 0316518565 New Condition. Bookseller Inventory # NEW7.0099538