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Professor Niall Ferguson - Historian

Duration:
25 minutes
First broadcast:
Wednesday 04 July 2012

The British Government has promised action to deal with the scandal at Barclays.

The bank has been fined for trying to fix the interest rate at which banks lend to each other - London Interbank Offered Rate - or Libor.

Yet again it's the lack of regulation that is being blamed for a financial problem.

Sarah Montague talks to Professor Niall Ferguson who argues that the world is responding in the wrong way to the global financial crisis.

He thinks the economic chaos which began in 2007 was caused by too much regulation, not too little.

(Image: Professor Niall Ferguson)

  • Timeline: Barclays' widening Libor-fixing scandal

    Timeline: Barclays' widening Libor-fixing scandal

    Follow the events linked to attempts to fix Libor, the London inter-bank lending rate, considered one of the most crucial interest rates in finance

    Read more on the BBC News website
  • Q&A: Barclays and bank rates

    Q&A: Barclays and bank rates

    Barclays' chief executive Bob Diamond has resigned, less than a week after the bank was fined £290m ($450m) for trying to manipulate a key bank lending rate called Libor. But why is Libor so important?

    Take a closer look at the issues involved
  • The Reith Lectures: Niall Ferguson - The Rule of Law and Its Enemies

    The Reith Lectures: Niall Ferguson - The Rule of Law and Its Enemies

    Economic historian Niall Ferguson explores the importance of man-made institutions in driving change around the world.

    Listen to The Reith Lectures

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