Previously on, "Inside Job"
https://www.youtube.com/watch?v=FzrBurlJUNk

A co-ordinated drive by national central banks and governments pressed banks to manipulate the Libor and Euribor benchmark interest rates at the height of the 2008 financial crisis, an exposé to be published next week alleges.

This was at the same time as dozens of former traders were criminally prosecuted for much less serious rate “manipulation”, it is claimed.

A new book claims that investigating agencies, including the FBI in the United States and Britain’s financial regulator, were told in November 2010 of an international drive to get Libor and Euribor rates down, regardless of the real cost of borrowing cash.

Jurors in nine criminal trials for far smaller-scale interest rate “rigging” in London and New York between 2015 and 2019 were never shown this evidence of manipulation by governments and central banks, the book claims.

David Davis, the former Brexit secretary, has called for an inquiry into claims that “British and US authorities covered up state involvement in Libor-rigging and the scapegoating of low and middle-ranking bankers, some of whom have spent years in jail”. The MP also expressed concerns in parliament that the Treasury select committee “may have been misled by state agencies about the knowledge and involvement of the state in setting false rates”.

Rigging of Libor was ‘state-led’
Global push in 2008 saw benchmark lowered
Andy Verity, James Hurley May 22 2023
https://www.thetimes.co.uk/article/rigging-of-libor-was-state-led-55xwsst75
https://archive.is/tscQa