Of all the scandals to emerge from the financial crisis of 2007-08, the rigging
of interbank interest rates by traders at Barclays, RBS, Deutsche Bank and
others is perhaps the most cynical and shocking. Yet for many people, the nature
of these interest rates, their history and the means by which they were
manipulated remain unclear.
In this book, Oonagh McDonald provides the most comprehensive account of the
scandal yet written. Beginning with a brief history of banking regulation in the
UK, she explains the origins of the different rates or 'fixes' - LIBOR, FOREX
and precious metals - showing how they emerged from London's establishment