Breaking Barings | Under The Water | 1
Jul 26, 2021•44 min•Season 4Ep. 1
Listen to this episode in Metacast mobile app
Don't just listen to podcasts. Learn from them with transcripts, summaries, and chapters for every episode. Skim, search, and bookmark insights. Learn more
Summary
This episode introduces Nick Leeson, a Barings Bank trader whose early career sees him tackling chaotic assignments in Jakarta and rising quickly in Singapore. Despite initial success and a "genius" reputation, he starts hiding trading errors in a secret "5.8s account." The episode details how these hidden losses mount dramatically, leading him to take increasingly desperate and fraudulent gambles to cover his tracks, achieving a temporary, deceptive recovery.Episode description
Nick Leeson rises through the ranks of Barings Bank. When he moves to run the Singapore office, he notices a weakness in the system.
Listen ad free with Wondery+. Join Wondery+ for exclusives, binges, early access, and ad free listening. Available in the Wondery App. https://wondery.app.link/britishscandal.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
For the best experience, listen in Metacast app for iOS or Android