today that federal reserve ben bernanke and secretary geithner should both be discussed to prepare liebor when they testify this month. in parliament hearings they defended themselves and their bank by claim can british regulators knew and approved of some libor manipulations. some said, and i quote: >> it seems to have led to this question of parliament to bank of england deputy governor paul tucker: >> you cat gorily refute the suggestion that this conversation might reasonably have led someone to suppose you were inviting barclay's to join the pack and underreport libor? >> absolutely. >> for more let's go to tracy avalay and economist geoff madrick author of a book whose title could not be more appropriate: "the age of greed." a remarkable title and the right one diced. tracy, let's begin with you. give us a criminal primer pronouncing it from the british way. what was libor? how was it set, and why do we care so much about it. >> i think it's important to understand what's at steak because a lot of people won't have heard of libor but it's massive in the finance arecial stem an inter