Скачать или смотреть The Secret Number Banks Rigged to Control Your Loans (LIBOR)

For years, the interest rate on your mortgage, student loan, and credit card was tied to a single number. And that number was a lie.

This video explores the 2012 LIBOR scandal, one of the biggest financial frauds in history. We'll explain what LIBOR was and how traders at the world's largest banks systematically manipulated this crucial benchmark for their own profit, affecting trillions of dollars in financial contracts worldwide.

The London Interbank Offered Rate was meant to be an honest reflection of borrowing costs. Instead, a culture of corruption allowed bankers to collude via chat messages to nudge the rate up or down, making their trading positions more profitable. The scandal resulted in billions in fines and shattered public trust, forcing the global financial system to abandon the broken benchmark.

How can we prevent scandals like this in the future?
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