This guy is going to jail for the biggest bank scandal no one ever heard of… His bosses are free

Insight – How Libor whiz Rain Man became ‘the guy everyone was going to blame’

He was so obsessed with the numbers that he did not see his downfall coming.

The first trader convicted by a jury in the global Libor rate-rigging scandal was a maths whiz nicknamed “Rain Man”, who slept as an adult under a superhero duvet cover he had owned since he was eight.

Tom Hayes, found guilty of eight counts of conspiracy to defraud, told the court he never thought he had been dishonest.

During a nine-week trial at London’s Southwark Crown Court, the 35-year-old former yen derivatives trader for the Tokyo offices of UBS and Citigroup said he had always been driven to do a good job. He wanted to gain “an extra edge”, he said, and his bosses had condoned methods that were common practise at the time.


The whole world is one big Ponzi scheme.

  • FactsWillOut

    Give it a few months, and folk will think he’s evil, just like Snowden.

    • No, I don’t think so. He is no innocent but he is by no means the main culprit, they rest further up the food chain, well protected, well satisfied and very rich for his work.

      • Everyone Else

        f_uckin A, they did a good job!

        they’re also not that evil
        what they took is the equivalent of bank or credit card transaction fees
        the only people they screwed are other banks

  • Doug Kursk

    Broke, in jail and career in tatters…his handlers meanwhile have a fall guy, are wealthy beyond description and face no scrutiny let alone jail time. Sweet deal for them, no?

  • Blacksmith

    “The whole world is one big Ponzi scheme.”
    This kind of crap is one reason I wish for a collapse so we can go back to barter and trade. If you have a useful skill set you will have a future if you don’t then you starve.

    • Me too.

    • Everyone Else

      don’t agree
      rear-tinted glasses make the past look rosy

      without currency the gangs and warlords will take over

  • luna

    He should just plead insanity.