Overview

#1 WALL STREET JOURNAL BESTSELLER ∗ NEW YORK TIMES BESTSELLER New York Times finance editor David Enrich's explosive exposé of the most scandalous bank in the world, revealing its shadowy ties to Donald Trump, Putin's Russia, and Nazi Germany “A jaw-dropping financial thriller” -Philadelphia Inquirer On a rainy Sunday in 2014, a senior executive at Deutsche Bank was found hanging in his London apartment. Bill Broeksmit had helped build the 150-year-old financial institution into a global colossus, and his sudden death was a mystery, made more so by the bank's efforts to deter investigation. Broeksmit, it turned out, was a man who knew too much. In Dark Towers, award-winning journalist David Enrich reveals the truth about Deutsche Bank and its epic path of devastation. Tracing the bank's history back to its propping up of a default-prone American developer in the 1880s, helping the Nazis build Auschwitz, and wooing Eastern Bloc authoritarians, he shows how in the 1990s, via a succession of hard-charging executives, Deutsche made a fateful decision to pursue Wall Street riches, often at the expense of ethics and the law. Soon, the bank was manipulating markets, violating international sanctions to aid terrorist regimes, scamming investors, defrauding regulators, and laundering money for Russian oligarchs. Ever desperate for an American foothold, Deutsche also started doing business with a self-promoting real estate magnate nearly every other bank in the world deemed too dangerous to touch: Donald Trump. Over the next twenty years, Deutsche executives loaned billions to Trump, the Kushner family, and an array of scandal-tarred clients, including convicted sex offender Jeffrey Epstein. Dark Towers is the never-before-told saga of how Deutsche Bank became the global face of financial recklessness and criminality-the corporate equivalent of a weapon of mass destruction. It is also the story of a man who was consumed by fear of what he'd seen at the bank-and his son's obsessive search for the secrets he kept.

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9780062878830

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This dwarfs by orders of magnitude any financial scams in the history of markets. --Andrew Lo, professor of finance at the Massachusetts Institute of Technology So how did a socially awkward English math whiz mastermind manipulation of lending rates on a global scale? ... In David Enrich's gripping tale, the characters have nicknames worthy of the Mafia, and their ethical compasses aren't much better. --Paul Ingrassia, Pulitzer Prize winner, bestselling author of Crash Course Mr. Enrich effectively uses the unique access he secured to the mildly autistic UBS trader, Tom Hayes, who became the fall guy for the unfolding scandal, to produce a surprisingly human narrative.... --Jonathan A. Knee, New York Times DealBook David Enrich has written an incredibly entertaining, globe-straddling inside account of how one trader turbocharged a greedy cabal that scammed savers and borrowers everywhere. A must read if you want to understand how big banks and traders really work. --Marcus Brauchli, former Executive Editor of the Washington Post and Managing Editor of the Wall Street Journal A damning look at the culture of trader chicanery... Enrich has sidestepped the temptation to slip into author-as-prosecutor mode, instead going the wry tour guide route to lucidly (and often hilariously) usher readers through the Looney Tunes world that wrought l'affaire Libor. --John Helyar, coauthor of Barbarians at the Gate With an unerring eye for detail, Enrich shows in this masterful work how a toxic stew of greed, arrogance and a lust for power led to a criminal scheme of unparalleled dimensions. It should be required reading for anyone who wants to understand the dirty underbelly of the financial world. --Kurt Eichenwald, Pulitzer Prize winning author of The Informant, on The Spider Network Dare I say it, but The Spider Network will snare you in its web of deceit, lies, corruption, manipulation and colorful characters. David Enrich's brilliant investigative expose will reverberate from Wall Street to Main Street. --Harlan Coben, bestselling author of Home and Fool Me Once, on The Spider Network As entertaining as the colorful character portraits are, what makes The Spider Network truly memorable are the portraits of the various institutions that made the scandal not just possible but inevitable. --New York Times on The Spider Network A thrilling tour de force of reporting, revelation and reasoning. For anyone who wants to understand what really went on inside a scam of epic proportions, The Spider Network is unmissable. --Iain Martin, author of Crash Bang Wallop, on The Spider Network A feat of reporting, and much of it reads like a novel. . . . Enrich's unfettered access to Hayes and his keen eye for detail make for a compelling portrait of a gifted but troubled man. --Washington Post on The Spider Network [Enrich's] impressive reporting and writing chops are on full display in The Spider Network... From the start, the book reads like a fast-paced John le Carre thriller, and never lets up. --William D. Cohan, New York Times Book Review, on The Spider Network In Dark Towers, David Enrich tells the story of how one of the world's mightiest banks careened off the rails, threatening everything from our financial system to our democracy through its reckless entanglement with Donald Trump. Darkly fascinating and yet all too real, it's a tale that will keep you up at night. --John Carreyrou, Pulitzer Prize winner and New York Times bestselling author of Bad Blood &#8220In this case, 'epic' is right - Dark Towers is a mystery, a thriller, a father-son drama. Did I mention Donald Trump? It's a distinctly American drama of greed, hubris and power that kept me racing to the finish. --James B. Stewart, Pulitzer Prize winner and bestselling author of Den of Thieves and Deep State In this masterful account of a bank gone bad, David Enrich turns financial journalism into gripping, page-turning crime reporting. Tracking the sordid history of Deutsche Bank--from financing robber barons, Nazis, and rogue states to laundering Russian money to underwriting Donald Trump to threatening global economic security -- Enrich deftly delivers a compelling narrative that intertwines harrowing institutional corruption and engaging personal tales. It's a wild ride and a great read. --David Corn, co-author, Russian Roulette: The Inside Story of Putin's War on America and the Election of Donald Trump

Author Information

David Enrich is the Finance Editor at the New York Times. He previously was the Financial Enterprise Editor of the Wall Street Journal, heading a team of investigative reporters. Before that, he was the Journal's European Banking Editor, based in London, and a Journal reporter in New York. He has won numerous journalism awards, including the 2016 Gerald Loeb Award for feature writing. His first book, The Spider Network was short-listed for the Financial Times Best Book of the Year award. Enrich grew up in Lexington, Massachusetts, and graduated from Claremont McKenna College in California. He currently lives in New York with his wife and two sons.

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