LIBOR: The Rate That Ran the World Was Fixed

It underpinned three hundred and fifty trillion dollars in financial contracts worldwide — mortgages, student loans, credit cards, corporate debt. And for years, traders at major banks were manipulating it over emails that talked about champagne, favours, and being a big boy. Done.This episode of Dark Money: True Crime Finance goes inside the LIBOR scandal — how the most important benchmark in global finance was rigged by traders requesting specific numbers as personal favours, what nine billion dollars in fines actually meant for the banks involved, and why the rate that everyone used could not be trusted.Subscribe to Dark Money: True Crime Finance for new episodes daily