Bloomberg - The Story of Britain’s Biggest Insider-Trading Trial 5-15min

What made the case fascinating—what had the entire London financial scene watching and waiting for the precedent it might set—was that the defendants’ version of events wasn’t so different from that of the prosecution. Parvizi and the others acknowledged joining up to trade. They acknowledged disguising their activities with encrypted devices and burner phones. But, they maintained, they’d never knowingly traded on information that was, legally speaking, “insider.” The men said their investments, even those that were incredibly well-timed, stayed on the legal side of the line between privileged information and well-informed rumor. ... The trial ran for four months, and at times Courtroom 3 became a circus. Anderson suffered a heart scare after two days on the stand, repeatedly delaying the proceedings. A reality-TV star sat in the audience. Harrison, making the most of the judge’s direction that the men could come and go as they pleased, barely showed up. Parvizi maintained his cool, even when his character was being savaged. During cross-examination, the lead prosecutor observed that lying appeared to come easily to him. Matter-of-factly, Parvizi replied, “Of course.”

The New Yorker - The Detectives Who Never Forget A Face 24min

London has more than eight million residents; unless somebody recognizes a suspect, CCTV footage is effectively useless. Investigators circulated photographs of the man with the mustache, but nobody came forward with information. So they turned to a tiny unit that had recently been established by London’s Metropolitan Police Service. In Room 901 of New Scotland Yard, the police had assembled half a dozen officers who shared an unusual talent: they all had a preternatural ability to recognize human faces. ... Most police precincts have an officer or two with a knack for recalling faces, but the Met (as the Metropolitan Police Service is known) is the first department in the world to create a specialized unit. The team is called the super-recognizers, and each member has taken a battery of tests, administered by scientists, to establish this uncanny credential. Glancing at a pixelated face in a low-resolution screen grab, super-recognizers can identify a crook with whom they had a chance encounter years earlier, or whom they recognize from a mug shot. ... By some estimates, as many as a million CCTV cameras are installed in London, making it the most surveilled metropolis on the planet. ... Prosopagnosics often have strange stories about how they cope with their condition. The subjects had their own curious tales about being on the other end of the spectrum. They not only recognized character actors in movies—they recognized the extras, too. In social situations, prosopagnosics often smiled blandly and behaved as if they had previously encountered everyone they met, rather than risk offending acquaintances. Russell’s subjects described the opposite adaptation: they often pretended that they were meeting for the first time people whom they knew they’d met before.

Bloomberg - The Man Who Invented the World’s Most Important Number 7min

In 1969, Neil Armstrong walked on the moon, Richard Nixon became president of the U.S., and 400,000 hippies descended on a sleepy New York farm near Woodstock. On the other side of the Atlantic, on a winter’s day in London, a mustachioed Greek banker named Minos Zombanakis was taking his own small step into history. He’d hit upon a novel way to lend large amounts of money to companies and countries that wanted to borrow dollars but would rather avoid the rigors of U.S. financial regulation. ... The Eurodollar market, as the vast pool of U.S. dollars held by banks outside the States is known, was already well developed, but Zombanakis had spotted a gap: the supply of large loans to borrowers looking for an alternate source of capital to the bond markets. He persuaded his bosses in New York to give him $5 million to set up a branch in London.