The banker is angry. He raises his voice, waves his hands in the air and – at one point – slaps the desk in front of him. “I know for a fact it wasn’t real – Libor wasn’t real in 2007 and 2008. I know for a fact that some banks were putting in artificially low rates. I still find it hard to believe someone would deliberately do that, but if they did, that person shouldn’t work in banking,” he says.
For something that sounds so mundane, Libor – a daily average of the borrowing rates for a panel o