Introduction

Abstract

This book is yet another contribution to the large and constantly growing body of literature dealing with the financial crisis of 2007ff. – and at first sight, it looks like everything has been said and written about “the worst financial meltdown since the Great Depression” (Financial Crisis Inquiry Commission 2011, 3). However, a closer look reveals that despite the endless number of research papers and government reports, experts still cannot agree on the exact causes of the crisis. More importantly, among the various contributing factors identified and discussed, some remain vague and require further research. The question whether systemic risk is merely an economic (Schwarcz 2008) or rather a political phenomenon (Levitin 2011) is exemplary in this regard.