Bankers. Fixing the system. Episode 1

Description

Five years on from the worst ever financial crash, a new landscape has emerged. The rules of the banking system are being re-written, and bankers, politicians and ordinary men and women are asking fundamental questions about how they should operate. Investigating recent revelations which have shattered trust in the banking system, the series asks whether this new damage to our banks' reputations has had an impact perhaps greater than that of the financial crisis itself. Combining rigorous journalism with access to key players, these films ask what our bankers, regulators and policy-makers have learnt since 2008. And, in the process of making the City and Wall Street pay the price for weaknesses in regulation, leadership and ethics, is there a danger of inflicting as much suffering on the wider economy as on the banks? The dramatic inside story of the scandal that ripped through the banking industry in 2012 and took down a banking legend, Bob Diamond. In the first of a new three-part series, bank bosses, regulators and politicians give frank first-hand accounts of how the balance of power has finally started to shift away from the masters of the universe. Ironically, this game-changing crisis erupted over the widespread rigging of an obscure rate-setting mechanism, Libor, rather than over the tumult of the financial crash. Some say it took this latest scandal to expose a profit-at-all-costs cynicism that they believe has corrupted the heart of our banking system; all agree things need to change. Former Barclays chairman Marcus Agius, RBS boss Sir Philip Hampton, deputy governor of the Bank of England Andrew Bailey and Jean-Claude Trichet examine the difficult new dilemmas about what we want and need from our bankers, and whether we can trust them again.

Runtime

54 minutes

Series

Subjects

Genre

Database

Alexander Street

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