The ‘Gänseliesel’ (Goose Girlis), a historical fountain erected in 1901, represents the most well-known landmark of the city of Goettingen.

The Snake and the Tail – Theory of Derivatives’ Regulation and the Asymmetry of the Global Financial Crisis

Mariusz Golecki



The paper concentrates on empirical verification of three competitive theories of the evolution of financial law, namely: the "origin of law" hypothesis, the "incompleteness of law" theory and the "normative uncertainty" hypothesis. It examines the adequacy of these regulatory approaches and their relative merits within the light of the asymmetry of the present financial crisis.


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