The Lowball Tapes

Episode

Title

First
Broadcast

Comments

Arrested

20220228

The secret tapes the authorities, on both sides of the Atlantic, wouldn't want you to hear.

Andy Verity, the BBC's Economics Correspondent has audio recordings, kept secret for years, which reveal evidence that could upend the received version of the biggest scandal since the financial crash.

We might have thought that the rate-rigging bankers, the LIBOR manipulators' were justly jailed in the aftermath of the 2008 financial crisis, but over 5 episodes, Andy questions the traditional narrative.

The Lowball Tapes exposes evidence, much of it kept out of the trials, to show how they were instructed to give a falsely low LIBOR rate, to lowball.' Outraged, some of the traders turn whistle-blowers; but rather than stopping the deception, the whistle-blowers find themselves pursued.

In interviews with convicted traders, including one on the run, Andy hears how it appears blame for manipulating LIBOR was shifted onto junior traders, while those higher up escaped prosecution.

Did the world fail to see the truth at the time? We've acquired a huge cache of exclusive evidence - recorded phone calls, confidential internal emails and witness statements - which suggest maybe it wasn't just the market that was rigged.

Can he find out who was pulling the strings and where the instructions ultimately came from?

Producer: Sarah Bowen
Music: Oskar Jones

The secret tapes the authorities, on both sides of the Atlantic, wouldn\u2019t want you to hear

The audio recordings that could upend the received version of a giant financial scandal.

The Trials

20220301

Did the right people go to jail in the Libor scandal?

The audio recordings that could upend the received version of a giant financial scandal.

The Whistleblower

20220302

It is too much for one trader?

The audio recordings that could upend the received version of a giant financial scandal.

The Overseers

20220303

Who was responsible for Libor? It was hailed as the world's most important number, but who was looking after it and were the custodians behaving with integrity? While traders went to prison for rigging interest rates, were there orchestrated manipulations of Libor by far bigger players?

Presenter: Andy Verity

Producer: Sarah Bowen

Music: Oskar Jones

Who is in charge of Libor?

The audio recordings that could upend the received version of a giant financial scandal.

Hunting the Truth

20220304

The public had a chance to find out the truth about the Libor scandal in 2012 - but somehow they didn't. Andy finds secrets kept from MPs and even the juries in the rate rigging trials. Can he find out where the instructions to lowball really came from?

Presenter: Andy Verity
Producer: Sarah Bowen
Music: Oskar Jones

Were the banks telling the truth about their role in the financial crash of 2008?

The audio recordings that could upend the received version of a giant financial scandal.

Episodes

Episode	Title	First Broadcast	Comments
01	Arrested	20220228	The secret tapes the authorities, on both sides of the Atlantic, wouldn't want you to hear. Andy Verity, the BBC's Economics Correspondent has audio recordings, kept secret for years, which reveal evidence that could upend the received version of the biggest scandal since the financial crash. We might have thought that the rate-rigging bankers, the LIBOR manipulators' were justly jailed in the aftermath of the 2008 financial crisis, but over 5 episodes, Andy questions the traditional narrative. The Lowball Tapes exposes evidence, much of it kept out of the trials, to show how they were instructed to give a falsely low LIBOR rate, to lowball.' Outraged, some of the traders turn whistle-blowers; but rather than stopping the deception, the whistle-blowers find themselves pursued. In interviews with convicted traders, including one on the run, Andy hears how it appears blame for manipulating LIBOR was shifted onto junior traders, while those higher up escaped prosecution. Did the world fail to see the truth at the time? We've acquired a huge cache of exclusive evidence - recorded phone calls, confidential internal emails and witness statements - which suggest maybe it wasn't just the market that was rigged. Can he find out who was pulling the strings and where the instructions ultimately came from? Producer: Sarah Bowen Music: Oskar Jones The secret tapes the authorities, on both sides of the Atlantic, wouldn\u2019t want you to hear The audio recordings that could upend the received version of a giant financial scandal.
02	The Trials	20220301	Did the right people go to jail in the Libor scandal? The audio recordings that could upend the received version of a giant financial scandal.
03	The Whistleblower	20220302	It is too much for one trader? The audio recordings that could upend the received version of a giant financial scandal.
04	The Overseers	20220303	Who was responsible for Libor? It was hailed as the world's most important number, but who was looking after it and were the custodians behaving with integrity? While traders went to prison for rigging interest rates, were there orchestrated manipulations of Libor by far bigger players? Presenter: Andy Verity Producer: Sarah Bowen Music: Oskar Jones Who is in charge of Libor? The audio recordings that could upend the received version of a giant financial scandal.
05	Hunting the Truth	20220304	The public had a chance to find out the truth about the Libor scandal in 2012 - but somehow they didn't. Andy finds secrets kept from MPs and even the juries in the rate rigging trials. Can he find out where the instructions to lowball really came from? Presenter: Andy Verity Producer: Sarah Bowen Music: Oskar Jones Were the banks telling the truth about their role in the financial crash of 2008? The audio recordings that could upend the received version of a giant financial scandal.