Economy

DemReadingDU

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36. BBCvideo: Bankers Fixing the system

Sat May 11, 2013, 03:16 PM

May 2013

5/9/13 Bankers Fixing The System story about banking industry in 2012 BBC documentary
The dramatic inside story of the scandal that ripped through the banking industry in 2012 and took down a banking legend, Bob Diamond. In the first of a new three-part series, bank bosses, regulators and politicians give frank first-hand accounts of how the balance of power has finally started to shift away from the masters of the universe. Ironically, this game-changing crisis erupted over the widespread rigging of an obscure rate-setting mechanism, Libor, rather than over the tumult of the financial crash. Some say it took this latest scandal to expose a profit-at-all-costs cynicism that they believe has corrupted the heart of our banking system; all agree things need to change. Former Barclays chairman Marcus Agius, RBS boss Sir Philip Hampton, deputy governor of the Bank of England Andrew Bailey and Jean-Claude Trichet examine the difficult new dilemmas about what we want and need from our bankers, and whether we can trust them again.

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