The Author looks into the current financial crisis and its causes, i.e. the massive subprime borrowing
and the lack of transparency of the economic operators in creating and marketing huge
amounts of unsecured financial instruments. He also points to criminal behaviours, which were
favoured by negligent rating agencies as well as insufficient controls by national regulators. Among
future remedies, the Author advocates new supranational rules on keeping books and records, using
particular care when it comes to company information and strengthening of the controls by public authorities.
Compliance with such new rules should be ensured by resorting, when necessary, to severe