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Private Notes
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.
With gripping first-hand accounts from banking insiders, regulators and politicians this film tells the story of two recent multi-billion pound trading disasters that rocked the City. It shows that some bankers are still taking reckless risks, five years after the crash that brought the world's economy to its knees. Risk is the engine of growth but reckless risk can have catastrophic consequences, especially in volatile times like the turbulent financial world of today. The film charts the thirty-year effort to manage financial risk through mathematical modelling and shows how this can encourage some traders to behave as if they have mastered risk altogether. With Nobel laureate Daniel Kahneman, former JP Morgan executive Bill Winters and regulator Martin Wheatley.
The eye-opening story of how Britain's multi-billion pound financial mis-selling scandal came about. With first-hand accounts from bank bosses, sales staff, politicians and customers, the film charts three decades of extraordinary changes inside our high street banks. They brought us convenient free banking services, easy credit and paid their way at the centre of the nation's economy. But as bankers now candidly admit, along the way they abused the trust of their customers, and sacrificed long-term relationships for quick profits. The fallout from mis-selling has driven some small business owners into financial distress. RBS chairman Sir Philip Hampton, Lloyds Group CEO Antonio Horta Osorio, the archbishop of Canterbury and Gillian Tett dissect the causes of this banking crisis and ask how such a dysfunctional system can be rebuilt for the future.
