The Collapse of Barings

by StephenFay (Author)

• Used

  Paperback
  1996

  $3.25

  How could Britain's oldest and most aristocratic merchant bank, which numbered the Queen among its clients, collapse with debts of #869 million? And why did a well-paid, high-flying 28-year-old son of a plasterer from Watford end up sentenced to six-and-a-half years in a Singapore gaol? This book contends that the answer lies in a combination of panic, ignorance and greed. The author sets out to reveal the cover-ups and lies, the gross negligence with which Barings was run, and the laxity of supervision in both the UK and Singapore, which combined to provide the perfect climate for Nick Leeson's massive fraud.