Hostname: page-component-5d84bcc8dc-pfg4f Total loading time: 0 Render date: 2026-09-08T11:13:49.083Z Has data issue: false hasContentIssue false

Financial Crisis and German Criminal Law: Managers' Responsibility for Highly-Speculative Trading in Obscure Asset-Backed Securities Based on American Subprime Mortgages

Published online by Cambridge University Press:  06 March 2019

Extract

Core share and HTML view are not available for this content. However, as you have access to this content, a full PDF is available via the 'Save PDF' action button.

“Should bankers be publicly hanged for what they have done?” During a visit to Abu Dhabi in March 2009, the author came upon this sarcastic question while reading the well-known United Arab Emirates' journal “The National.” The aforesaid question was part of an interview with Paul Koster, chief executive of the Dubai Financial Services Authority, concerning the financial crisis. He answered in the negative by saying, “There will be court cases, but public hanging is a bit extreme.” His statement has, in a way, anticipated the result of the paper at hand: There should be criminal proceedings in Germany as well; however, they should not result in draconian criminal consequences.

Information

Type
Articles
Copyright
Copyright © 2010 by German Law Journal GbR