#117 - Nick Leeson - I Lost £862 Million and Collapsed a Bank
Release Date: 10/01/2025
The Peter McCormack Show
Peter Bleksley is a former undercover detective, crime author and one of Britain’s most outspoken critics of modern policing. In this conversation, we unpack why trust has collapsed, crime has surged and what it will really take to fix British policing. CONTACT PETE › Website - http://petermccormack.com › Feedback - https://www.petermccormack.com/contact › Email - me@petermccormack.com › Instagram - /mccormack555 › X/Twitter - https://x.com/petermccormack/ CONNECT WITH PETER BLEKSLEY › X/Twitter - https://x.com/PeterBleksley SPONSORS › IREN - https://www.iren.com/ › Ledger -...
info_outlineThe Peter McCormack Show
In this solo episode, Peter breaks from the usual interview format to deliver an honest take on the state-of-the-nation. From the collapse of political discourse to the rise of Reform and the Greens, from inflation’s hidden wealth transfer to why young people are turning to socialism, Peter lays out the British Doom Loop - how taxes, stagnation and inflation keep feeding each other while the political class pretends everything’s fine. CONTACT PETE › Website - http://petermccormack.com › Feedback - https://www.petermccormack.com/contact › Email - me@petermccormack.com ›...
info_outlineThe Peter McCormack Show
Shanker Singham is a trade lawyer, competition expert, and one of the UK’s most respected economic minds. In this wide-ranging conversation, we unpack why Britain’s economy has become uncompetitive, how regulation has locked out innovation and what needs to change. CONTACT PETE › Website - http://petermccormack.com › Feedback - https://www.petermccormack.com/contact › Email - me@petermccormack.com › Instagram - /mccormack555 › X/Twitter - https://x.com/petermccormack/ CONNECT WITH SHANKER SINGHAM › X/Twitter - https://x.com/ShankerASingham SPONSORS › IREN -...
info_outlineThe Peter McCormack Show
Paul M. Sutter is a theoretical cosmologist, astrophysicist and author who takes the biggest questions of existence. From the origins of the universe to the limits of human understanding. His ability to connect abstract physics with everyday curiosity turns complex science into something emotional, philosophical and unforgettable. CONTACT PETE › Website - http://petermccormack.com › Feedback - https://www.petermccormack.com/contact › Email - me@petermccormack.com › Instagram - /mccormack555 › X/Twitter - https://x.com/petermccormack/ CONNECT WITH EWEN STEWART › X/Twitter -...
info_outlineThe Peter McCormack Show
Ewen Stewart is one of the UK’s sharpest economic thinkers. In this conversation, we unpack what’s gone wrong, from bloated welfare and debt-fuelled decline to brain drain, overregulation, collapsing growth and the cultural death spiral hollowing out the UK. CONTACT PETE › Website - http://petermccormack.com › Feedback - https://www.petermccormack.com/contact › Email - me@petermccormack.com › Instagram - /mccormack555 › X/Twitter - https://x.com/petermccormack/ CONNECT WITH EWEN STEWART › X/Twitter - https://x.com/TheGrowthComm SPONSORS › IREN - https://www.iren.com/...
info_outlineThe Peter McCormack Show
Ant Middleton is a Special Forces veteran, author, and former SAS: Who Dares Wins star. He joins the show for a conversation about identity, violence, service, and what’s gone wrong in Britain. From his military career and time in prison to his rise in the media and now politics, Ant lays out why he feels a duty to serve again — this time as Mayor of London. CONTACT PETE › Website - http://petermccormack.com › Feedback - https://www.petermccormack.com/contact › Email - me@petermccormack.com › Instagram - /mccormack555 › X/Twitter - https://x.com/petermccormack/ CONNECT WITH...
info_outlineThe Peter McCormack Show
Tom Slater is the editor of Spiked, one of the most important voices in the UK free speech movement. We cover: – Why free speech is collapsing in Britain – The absurdity of arresting 30+ people a day for tweets – The rise of soft censorship & speech policing – Why Labour has abandoned the working class – Illegal immigration, NGO rackets & the new elite – The failure of the police – Why we need direct democracy and state decentralisation – The case for cultural renewal and citizen power CONTACT PETE › Website - http://petermccormack.com › Feedback -...
info_outlineThe Peter McCormack Show
Zia Yusuf returns to the show for a follow-up on where Britain is going and how Reform UK plans to fix it. We cover: – Why Britain is no longer investable – The flight of wealth & what it means for services – Immigration, sectarian politics & cultural decline – Why reform needs real power – Energy policy & net zero – A first principles approach to taxation, debt & GDP – What Reform’s economic plan focuses on – Whether Zia will run for Parliament CONTACT PETE › Website - http://petermccormack.com › Feedback - https://www.petermccormack.com/contact ›...
info_outlineThe Peter McCormack Show
Ian Rogers ran digital at LVMH and worked with everyone from Apple to the Beastie Boys. In this conversation, we dive into culture, technology, politics, and the collapse of the old systems & what might replace them. We explore: – Why education is broken & what should replace it – AI, quantum & disruptive technologies – From state to network: Balaji's thesis and the network future – Creativity, free speech & the failure of mainstream culture – How to raise kids who thrive in chaos – What punk rock teaches us about politics, identity & belonging CONTACT PETE ›...
info_outlineThe Peter McCormack Show
William Clouston returns to the show for a wide-ranging conversation about Britain’s decline, from collapsing public services and economic stagnation to mass immigration, energy failure and the breakdown of trust in our institutions. We explore: – Why the UK economy is no longer investable – The energy crisis, net zero myths & failed privatisation – NHS failure & workforce caps – The collapse of public order – The SDP's vision for direct provision & industrial revival – Why Labour can’t fix this CONTACT PETE › Website - http://petermccormack.com › Feedback -...
info_outlineIn 1995, 28-year-old trader Nick Leeson caused the collapse of Barings Bank after racking up £862 million in hidden losses. He fled Singapore, was arrested in Frankfurt, extradited and served over 4 years in a Singaporean prison.
We cover:
– How it started with a £10K loss
– What went wrong, who knew & how it was hidden
– Why the bank kept giving him money
– Being on the run
– Life in prison & how it changed him
– Reflecting on success, failure & fatherhood
CONTACT PETE
› Website - http://petermccormack.com
› Feedback - https://www.petermccormack.com/contact
› Email - me@petermccormack.com
› Instagram - /mccormack555
› X/Twitter - https://x.com/petermccormack/
CONNECT WITH NICK LEESON
› X/Twitter - https://x.com/TheNickLeeson
SPONSORS
› IREN - https://www.iren.com/
› Ledger - https://www.ledger.com/
› Gemini - https://gemini.com/
› Casa - https://casa.io/
› Incogni - https://incogni.com/peter
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TIMESTAMPS:
00:00:00 – Intro
00:06:00 – From Maths Failure to Banker
00:08:18 – Headhunted by Barings
00:10:15 – Entering the Trading Pit
00:14:33 – The First £10K Loss
00:21:23 – Fear of Failure
00:26:35 – He Was Half the Market
00:35:18 – Options Strategy to Survive
00:39:41 – From £20M Loss to Breakeven
00:47:29 – Barings Sends All Their Cash
00:51:04 – It Was a Confidence Trick
00:55:01 – The Moment He Fled
01:00:00 – Headlines Hit the Newsstands
01:02:24 – Getting Caught
01:05:39 – Arrested on the Tarmac
01:08:29 – Jail in Germany
01:11:00 – Prison, Introspection & Change
01:13:31 – Did Anyone Lose Money?
01:20:30 – Life After Prison
01:23:32 – Speaking, Rebuilding & Psychology
01:25:42 – Letting Go of the Past
01:27:47 – Being a Dad Now
01:35:23 – Closing Thoughts
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
LISTEN / SUBSCRIBE TO THE PODCAST
› Apple Podcasts: https://apple.co/40ruY9K
› Spotify: https://spoti.fi/3Wc94Vu
› Fountain: https://bit.ly/FountainPM
› YouTube: https://bit.ly/YouTube_PM
› Rumble: https://bit.ly/RumblePM
FILMED BY CURTIS TAYLOR
› https://www.curttaylor.co.uk/
› https://x.com/curttayloruk/
EDITED BY CONOR MCCORMACK
› https://x.com/ConorM04
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -