like What ridden attorney Reiner Hall as only have? In a BGH process to quality advice and thus the liability of Deutsche Bank for an interest- swap business with a medium-sized company, the lawyer went so far with the statement that a conviction could lead to a "second financial crisis "as the mirror reported. Because it creates a new requirement for the court, the banks, which could refer all customers, that speculation had gone wrong. And operate the banks had billions of claims. Welch outrageous nonsense.
In detail: The company had 2005 Ille at Deutsche Bank in 2005 "Spread Ladder swap " acquired in order to save interest on loans. This went on - as it sometimes is so dependent - terribly wrong. About half a million euro loss this commitment has brought the company. The dispute now is whether the consultant has made the Deutsche Bank the company actually realized what she writes there, and what the associated risk is real.
Judge Ulrich Wiechers proved at the beginning of the process equal to a commendable degree of common sense. He hinted that he believes that banks are not only at least the formal consultant duties, so references to should consider risks, and more. But that it at least provides a moral duty, that they actually recommend for your customers only products that are suitable for their situation . "Had it not simply 'hands off' to mean?" He asked, according to Spiegel.
He would interpret the liability a bit further than does the law. When the German banking law but now face a "second financial crisis," such an interpretation, it means the reverse: The banks can only survive economically if they are laws and courts to put in a position to offer their customers high-paid products to turn Whether to use those or not. The main thing that is advice protocol correctly.
Attorney Hall's sector is more so in the wrong, as it deserves in reality. Clarify good bankers' interests and goals their clients at the top and there really are that good advisors. But just as clearly they have always their own profits in mind. So it is naive of clients, whether businesses or private investors to expect a selfless attitude. Anyone who wants and does not own the necessary Know - How has , must be paid and just now truly independent advice for a fee.
Anyone familiar uncritically on the advice of bankers, is namely, the same as someone who can aufschwatzen by a liquor manufacturer, the amount and variety of alcoholic beverages for himself and his family. The idea would probably get the least. And if it does? Then, the manufacturer is just not right on the other hand, if he is a brandy glass for all children from 6 months recommends - whether pointing attention to the risks or not.
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