I literally thought well, look, the solvency thing, you know, I'm talking about the margins and edges and, like, how much you can affect the rate by, you know, like very small amounts, but on very large notionals.

Tom Hayes

Categorized in : Company News

I could've done a million things to reduce the trail, the practice was tried and tested, it was so endemic within the bank (UBS), I just thought ... this can't be a big issue because everybody knows about it ... (it was) such an open secret.

(I was) either the stupidest fraudster ever because I wrote everything down or there was an element of me that genuinely didn't think about it.

How much influence I'm going to have in inverted commas I don't know, took the guys out for a very expensive lunch when I was in London. It cost more than I care to think about.

... as a desk, we've got a very big 3 month Libor fixing ... So we could do with moving the 3 month Libor down a few basis points on their contributions, mention we have a big 3 month Libor set ... make sure not to put it in writing ... just have a quiet word.

Try and catch him when he's on his own, not with his boss and stuff ... just try and catch him going to the toilet or something, we've got like $4 million of point fixing in the next 2 weeks.

People are variables that don't behave in predictable ways...I'd... by Tom Hayes

People are variables that don't behave in predictable ways...I'd rather manage risk than people.

I've always described Libors as the cherry on top of the cake. It was like squeezing out that extra little bit of value.

Make some efforts on Libor, any favours they can call in whatever ... make sure you take the guys out for like a strip club or whatever the night before.

Well that's sort of ironic that you're firing me given that you were involved in it up to your eyeballs as well.

I thought about it and I shouldn't have asked you, sorry mate, it... by Tom Hayes

I thought about it and I shouldn't have asked you, sorry mate, it's wrong of me to ask you a favour.