The $350 Trillion Lie: Who Rigged the World's Money?
A financial benchmark governing $350 trillion in contracts is being set like a lunch order. The global economy is exposed to a rigging scheme.
The $350 Trillion Lie: Who Rigged the World's Money?
This episode explores the mechanics of the Libor scandal, a system where a crucial global interest rate was manipulated through chat messages. It delves into how this benchmark, underpinning vast financial contracts, became a fiction and the implications of its unchecked power.
Date: August 21, 2007
Topic: Libor manipulation
Financial Impact: $350 trillion in derivatives contracts
Key Figure: Mervyn…
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