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The BAWAG Banking Scandal: How Over a Billion in Concealed Currency Trading Losses Caught Up with an Austrian Bank Almost a Decade Later

63 Pages Posted: 16 Jun 2008  

Edward Pekarek

Pace Law School

Date Written: July 25, 2007

Abstract

Nepotism, corruption, conspiratorial concealment, greed and grotesque excesses all combine with what seems to have been a complete lack of appropriate controls and regulatory oversight that eventually distorted a European Utopian banking vision beyond all recognition.

Keywords: BAWAG, REFCO, Flottl, Helmýt Elsner, Nowotny, Ross Capital Markets, currency trading, Austrian central bank

JEL Classification: E50, E51, E58, E59

Suggested Citation

Pekarek, Edward, The BAWAG Banking Scandal: How Over a Billion in Concealed Currency Trading Losses Caught Up with an Austrian Bank Almost a Decade Later (July 25, 2007). Available at SSRN: https://ssrn.com/abstract=1145902 or http://dx.doi.org/10.2139/ssrn.1145902

Edward Pekarek (Contact Author)

Pace Law School ( email )

80 North Broadway
White Plains, NY 10603
United States

HOME PAGE: http://www.pace.edu/page.cfm?doc_id=31582

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