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At the demise of empire
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The Spider's Web: Britain's Second Empire

At the demise of empire, the Bank of England usedits regulatory authority to help attract...

At the demise of empire, the Bank of England used
its regulatory authority to help attract the
world's banks to London

Full Transcript

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At the demise of empire,
00:00:02.992 --> 00:00:05.888
the Bank of England used its regulatory authority
00:00:05.888 --> 00:00:09.555
to help attract the world's banks to London.
Duration
11 seconds
Views
31
Timestamp in Movie
00:13:19
Uploaded
Oct 30, 2025
Genres
documentary
Production
N/A

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Movie Summary

How Britain transformed from an imperial power to a financial power.
In 1972, the Bank of England issued a license - The Spider's Web: Britain's Second Empire 00:12
In 1972, the Bank of England issued a license
Within 10 years, the BCCI grew - The Spider's Web: Britain's Second Empire 00:08
Within 10 years, the BCCI grew
10 years later, the BCCI was bankrupt. - The Spider's Web: Britain's Second Empire 00:05
10 years later, the BCCI was bankrupt.
- The Deputy Director of the CIA, Richard Kerr, - The Spider's Web: Britain's Second Empire 00:13
- The Deputy Director of the CIA, Richard Kerr,
- [Narrator] But BCCI had not just collaborated - The Spider's Web: Britain's Second Empire 00:14
- [Narrator] But BCCI had not just collaborated
- BCCI constituted international global crime - The Spider's Web: Britain's Second Empire 00:09
- BCCI constituted international global crime
The Bank of England knew it, says the report, - The Spider's Web: Britain's Second Empire 00:09
The Bank of England knew it, says the report,
- I am saying very directly - The Spider's Web: Britain's Second Empire 00:12
- I am saying very directly
Millions of depositors were hurt in that process. - The Spider's Web: Britain's Second Empire 00:07
Millions of depositors were hurt in that process.
- [Narrator] Numerous whistleblowers from BCCI - The Spider's Web: Britain's Second Empire 00:06
- [Narrator] Numerous whistleblowers from BCCI
Yet the Bank of England did nothing. - The Spider's Web: Britain's Second Empire 00:05
Yet the Bank of England did nothing.
- The Bank of England had plenty of time - The Spider's Web: Britain's Second Empire 00:24
- The Bank of England had plenty of time
- [Narrator] Robin Leigh-Pemberton, the governor - The Spider's Web: Britain's Second Empire 00:12
- [Narrator] Robin Leigh-Pemberton, the governor
"If we closed down a bank every time we found an incidence - The Spider's Web: Britain's Second Empire 00:23
"If we closed down a bank every time we found an incide...
This is one of the reasons why today there are more banks - The Spider's Web: Britain's Second Empire 00:09
This is one of the reasons why today there are more banks
And that is part of the offshore business model of the UK, - The Spider's Web: Britain's Second Empire 00:07
And that is part of the offshore business model of the UK,
- [Narrator] Light-touch regulation was one way - The Spider's Web: Britain's Second Empire 00:06
- [Narrator] Light-touch regulation was one way
From the 1960s onwards, City of London institutions began - The Spider's Web: Britain's Second Empire 00:10
From the 1960s onwards, City of London institutions began
Their aim was to create offshore centers - The Spider's Web: Britain's Second Empire 00:11
Their aim was to create offshore centers
- Swiss banking secrecy is the most famous, - The Spider's Web: Britain's Second Empire 00:05
- Swiss banking secrecy is the most famous,