Financial crisis and German criminal law. Responsibility of managers for highly-speculative trading with obscure asset-backed securities based on American subprime mortgages
- The article deals with the responsibility of the financial sector under criminal law in Germany. This question has been of special interest since the beginning of the financial crisis. The author argues that the transactions of asset-backed securities based on American subprime mortgages fulfill all legal elements of the criminal offence "breach of trust" (Untreue). From the author's point of view, the people's legal loyalty would be severely affected if there were no criminal proceedings against such bankers who purchased those toxic asset-backed securities without sufficient information on their structure and value. Refraining from criminal prosecution even in cases causing high loss would send a dangerous signal towards the investment banking industry.
Verfasserangaben: | Volker Krey |
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URN: | urn:nbn:de:hbz:385-6711 |
Schriftenreihe (Bandnummer): | Rechtspolitisches Forum (49) |
Dokumentart: | Buch (Monographie) |
Sprache: | Englisch |
Datum der Fertigstellung: | 19.09.2011 |
Veröffentlichende Institution: | Universität Trier |
Beteiligte Körperschaft: | Institut für Rechtspolitik an der Universität Trier |
Datum der Freischaltung: | 19.09.2011 |
Freies Schlagwort / Tag: | criminal law; financial crisis; manager; subprime mortgage |
GND-Schlagwort: | Finanzkrise; Führungskraft; Strafrecht |
Quelle: | Rechtspolitisches Forum ; 49 |
Sonstige beteiligte Person: | Hoffmann, Bernd von; Robbers, Gerhard |
Institute: | Fachbereich 5 / Rechtswissenschaft |
DDC-Klassifikation: | 3 Sozialwissenschaften / 34 Recht / 340 Recht |