Episodes

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01Arrested20220228

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.

01Arrested2022022820240902 (R4)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 audio recordings that could upend the received version of a giant financial scandal.

The secret tapes the authorities, on both sides of the Atlantic, wouldn't want you to hear, that could upend the official version of the biggest scandal since the financial crash.

"

02The Trials20220301Did the right people go to jail in the Libor scandal?

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

02The Trials2022030120240903 (R4)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.

03The Whistleblower20220302It is too much for one trader?

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

03The Whistleblower2022030220240904 (R4)It is too much for one trader?

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

04The Overseers20220303Who 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.

04The Overseers2022030320240905 (R4)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.

The secret tapes the authorities wouldn't want you to hear, that could upend the official version of the biggest scandal since the financial crash

"

05Hunting the Truth20220304

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.

05Hunting The Truth2022030420240906 (R4)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.

The secret tapes the authorities, on both sides of the Atlantic, wouldn't want you to hear, that could upend the official version of the biggest scandal since the financial crash.

"