This page sets out the English summaries of the research papers published by the Research Services. A link from the end of the summary will take you to the complete research paper in German.
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In recent years, the economic importance of rare earth metals has greatly increased. This is due to their wide range of uses in energy-saving devices, information and communication technology, and other key technologies. As a result, there has been strong growth in global demand for these metals, currently being met almost entirely by China. However, China has drastically reduced its exports of rare earth metals and introduced export quotas for materials containing rare earths. To meet rising demand and offset the impact of export restrictions, a search for new deposits is currently taking place around the world. Efforts are also underway to ensure that optimised recycling methods provide an additional supply of rare earths.
Germany has intensive trade relations with the People's Republic of China. Among the 27 European member states, Germany is China's biggest trading partner with respect to the export of merchandises to China (36.5 bn EUR 2009) and the import from China (55.4 bn EUR 2009). The political leadership of China names Science and Technology as one of the most important factors for their economic growth. In the context of the German-Chinese Year of Science 2009-2010 the Federal Ministry of Education and Research (BMBF) and the Chinese Ministry of Science and Technology (MoST) initiated a number of events and projects that helped deepening German-Chinese cooperation in education and science. Strong relationships in research have been established over the last years ranging from ministries, universities, research funding organizations, foundations on the national level as well with the EU.
Confidential government documents are regularly published on the Wikileaks internet platform. Against this background, this issue of the Topical Term outlines the provisions of German criminal law covering the betrayal of state secrets.
The current Federal Government wants to promote boys and men in a targeted manner for the first time. Various projects have been designed to meet the special needs of boys, who are increasingly regarded as problem children: they have to repeat school years more often than girls; fewer boys than girls obtain the university-entrance qualification; they do not do so well in vocational training and are more likely not to receive any vocational training at all. Researchers into the male gender call the lack of orientation currently felt by many men with regard to their masculinity a "lads' crisis". The "Federal Men's Forum – Interest Group for Boys, Men and Fathers" set up in November 2010 regards itself as a lobbyist for men and is committed to achieving "genuine equality" of the sexes, which it says must not be created merely through the promotion of women.
Pepper sprays are extremely irritant sprays designed for use in threatening situations. They have been freely available for many years and are used by German police forces. The use of pepper spray by police against demonstrators during protests over the conversion of Stuttgart's central railway station (the "Stuttgart 21" project) brought this means of self-defence into the public spotlight again. This issue of the Topical Term deals with the effects of pepper spray with reference to its active agent (oleoresin capsicum or capsaicin) and describes the symptoms, treatment methods and dangers to health associated with its use.
Green IT refers to new concepts in computing aiming at shaping this growing industry in a more environmentally sustainable way. Today all parts of an IT-product’s life cycle contain environmental risks or hazards: from its production using rare or poisonous resources to functioning with high amounts of electricity to the ever-growing lot of electronic waste. IT-innovations can have environmentally positive effects in a direct and indirect way: "Green in IT"-methods help to directly increase energy efficiency of IT products and modernize their production and disposal. Even greater are the potential ecological advantages which "Green through IT"-methods can have by designing algorithms and systems for efficiency-related computer technologies for instance in buildings, traffic regulation or industry. However, in order to realize the great potential of this new approach, the concept needs to be elaborated more deeply, and the focus of many "Green IT-initiatives" in politics as well as industry should broaden so as to regard not only issues of energy efficiency but also including resource and material efficiency.
The question of whether a provision should be added to Germany's constitution, the Basic Law, establishing German as the language of the Federal Republic of Germany, has long been a subject of public debate. This question gained in topical relevance when a petition containing thousands of signatures was handed over to the President of the German Bundestag, Norbert Lammert, on 9 November 2010. This issue of the Topical Term deals with the legal admissibility of the proposal and the position of the language in German law.
The pilot scheme for anonymised job application procedures launched by the Federal Anti-Discrimination Agency on 25 November 2010 is without precedent in Germany. For a year-long period, seven large companies and authorities will seek new employees with the help of anonymous applications. The model project will be monitored by researchers, who will be trying to find out, for example, if more individuals from certain sections of the population will be called for interview more frequently as a result of the anonymous application procedure. Numerous field studies have shown that discrimination occurs in the employment market based on, among other things, ethnic origin.
Since it was introduced, there has been much disagreement about the "interest barrier" (Zinsschranke), a tax law provision which puts a limit on how much of a business' interest expenses may be deducted for tax. The Federal Government has now started to evaluate the effects of the rule. In reaction to the financial and economic crisis, the legislator had already recently begun to make various improvements to the rule in order to mitigate its impact on companies affected by the crisis. This is because the design of the interest barrier can make it difficult to deduct interest precisely during such periods.
In its judgment of 20 December 2007, the Federal Constitutional Court decided that, as joint facilities of the Federal Employment Agency and municipal providers, the joint agencies (Arbeitsgemeinschaften - ARGEn) specified in the Second Book of the German Social Code infringe upon the right of municipalities to be responsible for performing their own tasks, and violate the allocation of competences set out in Germany's constitution, the Basic Law. The legislator is staying with the proven concept of the Arbeitsgemeinschaften and accredited municipalities ("Optionskommunen"), and has passed two laws which now allow joint responsibility for carrying out such tasks: the Act to Amend the Basic Law (Gesetz zur Änderung des Grundgesetzes) which created the necessary constitutional basis; and the Act to Enhance the Organisation of Basic Security Benefits for Job-Seekers (Gesetz zur Weiterentwicklung der Organisation der Grundsicherung für Arbeitsuchende) which made a number of regulatory changes to the organisation of basic security benefits.
At its meeting on 27 October 2010, the Federal Cabinet decided to introduce a bill to combat forced marriage. The Bundesrat (the Federal Council) already submitted a bill on the same subject in the spring of 2010. At the heart of both legislative proposals are changes to the Criminal Code. This issue of the Topical Term sets out the proposed new criminal law provisions in the context of the currently applicable law.
The new EU driving licence will be introduced in all European Union Member States as of 2013 as a consequence of the third EC driving licence directive, which entered into force in 2008, setting out various changes in the layout and period of validity, introducing new vehicle categories and modifying security features. The introduction of the new EU driving licence is intended to reduce the large number of different types of driving licences across the EU - currently 110. In future, the approximately 200 million holders of driving licences in the EU will be able to produce a standard driving licence model which will be recognised in all 27 Member States. It will be compulsory to issue the new EU driving licence in Germany as of 19 January 2013. Old driving licences can be exchanged voluntarily. They will continue to be valid until 19 January 2033.
In the context of the reform of the law on preventive detention (Bundestag printed paper 17/3403) planned by the Federal Government, an Act on the Treatment and Confinement of Mentally Disturbed Violent Offenders (Gesetz zur Therapierung und Unterbringung psychisch gestörter Gewalttäter - ThUG) is to be passed. Mental disorders or illnesses can constitute grounds for compulsory detention even under existing law. Distinctions are made in this type of detention with respect to criminal, civil, and public law. This issue of the Topical Term sets out the different variants.
Plastic waste in the oceans is a growing problem worldwide. It enters the oceans via a wide range of means, such as shipping, tourism and leisure activities, as well as being transported from non-coastal regions by rivers and the wind. Only global improvements in individual countries’ waste management, in particular through material and energy recovery, can lead to a reduction in the pollution of the oceans.
Ten years ago, on 31 October 2000, Pope John Paul II declared the English statesman and humanist scholar Thomas More the "heavenly patron of statesmen and politicians". Thomas More had refused to act against his convictions by recognising King Henry VIII as head of the Church of England, and was therefore executed on 6 July 1535. His composure in the face of what was widely regarded as a martyr's death, his steadfast insistence on the primacy of decisions of conscience, and the elegance of language and depth of thought in his writings brought Thomas More lasting fame long after his execution. Four hundred years after his death, in 1935, he was canonised.
ITER is a planned experimental nuclear fusion reactor. It is a unique international research project run by the EU (EURATOM) in partnership with China, India, Japan, Russia, South Korea and the United States. Since 2010, the European Commission has estimated that the European share of the costs of the ITER project will rise by 4.5 billion euros. This has led to a political debate about the continued funding of the initiative.
This information bulletin deals with information events of the Federal Armed Forces (Bundeswehr) in schools, and describes the relationship between parents’ rights and the state's educational tasks. Under the latter, the provision of information about the Bundeswehr within the mandatory school curriculum is in principle allowed under constitutional law. However, in exceptional circumstances, pupils may be excused from such lessons for good cause. The following rule of thumb can be applied to such teaching events: the more controversial the content of such an event is with the public, the more the school must ensure that a proper balance is achieved. The intentional influencing of school students in a particular direction is forbidden under constitutional law.
Despite the continually increasing number of practising physicians, there is still talk in Germany of an actual or imminent lack of doctors. The causes of the threatened deficit are to be found in the uneven distribution of physicians, particularly panel doctors, across the country, demographic developments (an ageing population needing more and more care) and the large number of doctors reaching retirement age in the next ten years. This issue of the Topical Term describes the background to the threatened shortage of medical practitioners and presents the many different proposals currently doing the rounds in the health sector and among health policymakers as to how to improve the situation.
Attention-deficit hyperactivity disorder (ADHD) is the term used for a syndrome occurring predominantly in children and young people and characterised in particular by inattention, difficulty in focusing on a task, restless behaviour (inability to sit still), impulsivity with abrupt motor and/or verbal actions. The causes of ADHD suggested in the highly controversial scientific debate range from neurobiological to psychosocial factors. Federal Health Minister Dr Philipp Rösler activated the internet site http://www.adhs.info/ in March 2010. Individual pages on ADHD (attention-deficit hyperactivity disorder) will gradually be activated by the end of 2010. The aim is to provide people looking for advice with information about ADHD.
On 24 February 2010, the Federal Government established a committee to draft proposals on a reform of local-authority financing. The committee was charged with making proposals on the future of trade tax and with examining alternative models. The working groups set up by the commission have now produced an interim report; however, this report only examines the "test model". This model would mean the abolition of trade tax - revenue from which fluctuates according to the economic situation. The revenue lost would be compensated by adding extra percentage points to other kinds of taxes which are not influenced by the economic cycle.
In view of global warming, there is growing discussion not only of reducing CO2 emissions, but also of deliberately manipulating the climate by technological means - usually referred to as geo-engineering. This issue of the Topical Term, dedicated to geo-engineering, provides an overview of the current state of research in this field and the opportunities and risks of the proposed measures.
In October 2008, the European Commission produced a proposal for a directive on consumer rights. The proposal provided for the full harmonisation of consumer rights in the European Union, which was widely criticised by, amongst others, the Federal Ministry of Justice, the Bundesrat, the Committee of the Regions and authors of specialist legal literature. This issue of the Topical Term describes the rationale for the Commission’s initiative and the critics’ main arguments, as well as discussing a draft report produced by the European Parliament’s Committee on the Internal Market and Consumer Protection. It is an amended version of the proposal and provides for "full targeted harmonisation", i.e. full harmonisation for certain provisions to be decided on a case-by-case basis.
The debate on how to deal with rising health expenditure has been intensified by the growth in demand for health services as a result of demographic change, medical progress - resulting in new and often expensive diagnosis and treatment options - and political moves to encourage greater competition in the health sector. At the heart of the debate is the concept of "prioritisation". This issue of the Topical Term explains this concept and sets out a list of criteria developed by the Central Ethics Commission of the German Medical Association (ZEKO) in 2007 which is today often cited in specialist literature. It refers to calls for greater public involvement in the debate, and highlights the fundamental constitutional limits on any type of regimentation of health matters.
The "Art in Architecture" guidelines require the state, when constructing new buildings, to spend a certain proportion of the construction costs - usually one to two per cent - on works of art. This requirement, whose origins dates back to the Weimar Republic era, was formally established in a Bundestag decision of 25 January 1950 and has had a significant influence on the appearance of federal buildings ever since. Steadfast support for site-specific art is one of the Federal Republic of Germany’s achievements in terms of cultural policy: the German Bundestag alone has spent around 15 million euros on works as part of the Art in Architecture programme in its buildings in Berlin. One current example of the Bundestag’s commitment to Art in Architecture is the competition for the Dorotheenstraße/Wilhelmstraße building, currently being renovated for the German Bundestag. The competition entries can be viewed in the German Bundestag’s Art Room until 12 September 2010.
The demolition of the Royal Palace in Berlin - the wanton destruction of one of the most significant baroque buildings in Europe - began on 7 September 1950. Despite widespread protests, the 500-year-old palace was razed to the ground to create a giant parade ground - a decision which had been pressed for in particular by Walter Ulbricht, the General Secretary of the Central Committee of the Socialist Unity Party (SED). Following the demise of the GDR and the reunification of Germany, a discussion once again began about the future of this area. On 4 July 2002, the German Bundestag decided to demolish the Palace of the Republic and build a new "Humboldt Forum", involving the reconstruction of three of the Royal Palace’s baroque facades; however, the start of the construction work was postponed for cost reasons.
For several years, the question of how to protect society from dangerous offenders has been a major issue in the debate on law and order in Germany. The European Court of Justice has found that preventive detention constitutes a "penalty", and that the retroactive extension of preventive detention - permitted under German law - violates the Convention on Human Rights. The judgment has reignited the discussion on how to adequately protect society from dangerous offenders and how best to deal with them. Against this background, in the summer of 2010 the German Bundestag’s Research Services sent a request for information via the European Centre for Parliamentary Research and Documentation (ECPRD), with the aim of obtaining up-to-date and valid information on how other European countries deal with the issue of adequately protecting society from dangerous offenders. This information bulletin summarises the responses received to the survey.
Medicinal drugs are an indispensable element of medical care. The mechanism used in Germany to guarantee that the supply of medicinal products meets the relevant standards is primarily institutional in nature. Responsibility for the quality and testing of medicinal drugs in Germany lies primarily with the Federal Joint Committee, the Institute for Quality and Efficiency in Health Care and the Drug Commission of the German Medical Profession. This issue of the Topical Term introduces these institutions and explains their tasks, their working methods and their interconnections.
The Maastricht Treaty (1992) gave a legal basis to EU cultural actions and policies for the first time (article 151, ex-article 128). Aimed at 'encouraging', 'supporting' and 'supplementing' the actions of the Member States, 'while respecting their national and regional diversity and at the same time bringing the common cultural heritage to the fore', the article gave some competence to the EU, but only in a 'complementary' form. This provision is still valid today and has not been affected by the Lisbon treaty (article 167 TFEU). And as European cultural policy evolves, a specific European Agenda for Culture has been developed. The new strategy has three main objectives: to promote cultural diversity and intercultural dialogue; to utilise culture as a catalyst for creativity and innovation in the context of the Lisbon Strategy to transform Europe into the most competitive knowledge-based society in the world; and to ensure that culture becomes an important component in the EU's external relations.
In peace and conflict studies, there are many different characterisations of the types of military conflict and their causes. This issue of the Topical Term sets out a system of categorising the types of conflict, from the perspective of international law. In addition, it explains selected aspects of the legal systems relating to international and non-international armed conflicts.
The extreme debt situation of the EU Member States – which came to light after measures were taken by the European Union and its Member States to limit the scale of the financial and economic crisis and to alleviate its impact – clearly demonstrated in particular the failure by the Member States to fulfil their obligations to coordinate their economic and budgetary policies as well as to avoid excessive public deficits. At the same time, it revealed the weaknesses of the governance framework of Economic and Monetary Union. These weaknesses and their elimination are a major topic of political and expert debate following the adoption of the support package for Greece, worth a total of 110 billion euros, and the larger European Financial Stabilisation Mechanism partly backed by the IMF and worth a total of 750 billion euros. There is agreement that the window of opportunity opened up by the activation of these rescue and stabilisation packages should be used to introduce fundamental reforms of the architecture of Economic and Monetary Union. The Task Force on Economic Governance was established by the European Council on 25 March 2010 to draw up relevant proposals. The European Commission as well as other institutions and think tanks are all actively involved in this discussion process. In this information bulletin, the discussion about reforms is taken as a starting point for looking at the current situation of the surveillance and sanctions mechanisms for Economic and Monetary Union and in particular for the Stability and Growth Pact at its heart, and for examining in more detail some of the proposals for the reform of these mechanisms submitted so far.
The Bologna Process was launched in 1999 to create an internationally competitive and attractive European Higher Education Area. Among other things, the participating countries, which now number 47, committed themselves to the introduction of a two-cycle system of study consisting of bachelor’s and master’s degrees with qualifications and course credits that are comparable and must be recognised throughout Europe. They also committed themselves to improve quality assurance, incorporate the social dimension and increase geographic mobility. This information bulletin covers both the international evaluation of the Process as well the implementation of the reform within Germany. It reports on a comparison between the German Länder (federal states), the experiences of German students, as well as the positions of the various political actors involved on the need for further reform, and also cites examples of good practice.
The Federal Nature Conservation Act (BNatSchG) and the Federal Water Act (WHG) have been comprehensively revised, with the new versions entering into force on 1 March 2010. Following the 2006 reform of the federal system, these areas now fall into the category of "concurrent legislation", meaning that the Länder may enact laws at variance with federal legislation. This does not apply, however, for general principles governing nature protection, the law on protection of plant and animal species or the law on protection of marine life, or with regard to regulations concerning materials or facilities in the area of management of water resources. It is always the law enacted most recently which applies, regardless of whether the law in question is a federal law or one enacted at Land level. Until such point as the Länder have enacted their own laws on nature protection and management of water resources, the old Länder laws must be applied, insofar as the federal laws do not contain any provisions in the individual areas concerned. The scope of the norms where no derogation is allowed in currently unclear.
Against the background of the support mechanism for Greece agreed by the Member States of the eurozone and the International Monetary Fund, a debate is underway amongst legal and political experts concerning the scope of the "No-Bail-Out-Clause" contained in Article 125 (1) of the Treaty on the Functioning of the European Union. This Factsheet provides an overview of the different opinions within the debate. It concludes with a description of the opportunities for legal redress if Member States fail to meet their obligations as laid down in the Treaties.
On 19 August 2009, the Federal Government launched its national development plan for electromobility, with the aim of seeing at least a million new electric vehicles on the roads by 2020. Five million euros were made available for relevant research programmes as part of the second economic recovery package. This Topical Term sets out the current state of technological development.
The German abbreviation "Logib-D" stands for "Lohngleichheit im Betrieb - Deutschland" (pay equality in businesses - Germany), and is the name of software allowing businesses to analyse their pay structures with regard to gender-specific differences. As women in German currently earn 23% less than men on average, the Federal Ministry for Family Affairs, Senior Citizens, Women and Youth has made available the Logib-D programme online as a free, anonymous self-test. This service is intended to help companies to identify and eliminate pay inequality in their businesses. In this way, wage differences between men and women which are due solely to gender are to be reduced.
Evidence-based medicine (EBM) is the conscientious, explicit and judicious use of the best available scientific evidence and studies in decisions relating to the medical care of individual patients. The German Network for Evidence Based Medicine (DNEbM) and the Cochrane Collaboration support the further development and spread of the concepts, principles and methods of EBM in clinical practice, teaching and research.
The Initiative for Excellence is a programme to promote world-class research at German universities, agreed by the Federation and the Länder (federal states) in 2005. The aim of the programme is to strengthen for the long term Germany’s position as a location for research and make it more competitive. In addition to supporting world-class research, the Initiative for Excellence is intended to ensure higher quality more broadly. For the first phase, from 2006 to 2011, 1.9 billion euros are being made available. Seventy-five per cent of the costs are being borne by the Federation, and twenty-five per cent by the Länder. The universities can apply for funding in three categories: - to develop graduate schools offering PhD programmes for young academics, - to establish "excellence clusters" which comprise competitive research and training institutions with an international reputation, and - to develop future strategies to expand world-class research at universities. While funding for future strategies is reserved for a small number of universities, both of the other categories allow broad-based participation.
The parliamentary groups supporting the government agreed in the coalition agreement to produce an integrated energy policy concept. Research institutes were commissioned to outline various energy scenarios. They carried out calculations involving an extension of the operating lives of nuclear power plants by 4, 12, 20 and 28 years. A decision on the energy concept as a whole is to be taken in the autumn of 2010. A potential extension of the operating lives of nuclear power plants raises the question of a change in the current consensus on nuclear energy policy.
The renewables levy (EEG-Umlage) is the portion of the electricity price that must be paid by the end user towards the subsidisation of renewable energies. It results from the equalisation scheme which is described in the Renewable Energy Sources Act (EEG). The Equalisation Scheme Ordinance (AusglMechV) of 17 July 2009 has changed the way the costs for subsidising electricity generated from renewable energy sources are levied and passed on, with effect from 2010. The renewables levy set at 2.047 cents/kWh will now be paid by the energy supply companies to the transmission system operators and charged to the end users. The Equalisation Scheme Ordinance requires that the transmission system operators set the renewables levy on 15 October each year for the following year.
Since the foiled terror attack in Detroit, politicians and society discuss whether the usage of body scanners contributes to the improvement of aviation safety. Body scanners measure reflected or emitted electromagnetic radiation and can detect objects hidden under clothing and display them on a screen. However, they show the body contours pin sharp. That was the reason for political opposition, when the European Commission made plans to allow the deployment in September 2008. The European Parliament and all parties of the Bundestag were concerned that the usage could be an excessive intrusion into the privacy and freedom of religion and could threaten the dignity of man, which was absolutely enshrined in Article 1 of the Basic Law. A testing phase has begun with the purpose to modify scanners so that they both maintain the passengers privacy and dignity, but also identify dangers efficiently. Experts advise to use passive terahertz radiation, which is considered to be medically not dangerous. After the completion of various research projects, the first test versions are expected to be deployed in German airports in mid-2010.
Publicly subsidised employment is intended for people who are not expected to become integrated into the regular labour market in the foreseeable future. Since this section of the population is continually growing, there are increasing calls for the expansion of publicly subsidised employment. Good reasons for this approach are put from both labour-market and social policy perspectives, while opponents point out the dangers for the labour market and competition. The study provides an overview of academic opinion and political positions as well as the arguments of those administering the schemes in practice, and describes examples in both Germany and abroad.
Cloud computing is a general term for anything that involves delivering hosted services over the Internet. These services are broadly divided into three categories: Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS) and Software-as-a-Service (SaaS). Research institutions, cloud providers and government organizations are investing in research around the topic of cloud computing. Cloud computing is identified as one of the emerging applications, which is likely to have a very big impact on businesses and governments.
The Telematikplattform für medizinische Forschungsnetze (TMF) brings together inter-regional networks in the field of medical research. The aim is to enhance the organisation and infrastructure of medical research in interlinked structures. The TMF enables interdisciplinary and cross-institutional cooperation between the research networks via various projects which encompass research, IT infrastructure, data protection, quality management, biobanking and questions relating to network management and public relations. The TMF is a registered association funded primarily via membership dues.
This issue of the Topical Term sets out the legal foundations, structure and work procedures of the independent scientific Institute for Quality and Efficiency in Health Care (IQWiG). The Institute investigates the benefits and harm of medical interventions for patients, provides information about the advantages and disadvantages of different therapeutic and diagnostic services, and produces a cost-benefit analysis of drugs. The IQWiG does not carry out trials itself; instead it searches international literature for trials and reviews them. The Institute transmits its assessments to the Federal Joint Committee as recommendations.
In its first Opinion, dated 26 November 2009, the German Ethics Council examined the problem of the anonymous relinquishment of infants. It recommends that "baby hatches" and other previously tolerated facilities for anonymous birth should be abolished, in particular because, the Council argues, they violate the children’s fundamental right to a knowledge of their origins and to a relationship with their birth parents. The public information available about the existing legally permitted facilities for helping pregnant women and mothers in emergencies or a conflict situation should be strengthened and expanded, and it should be ensured that these facilities are "low threshold", with easy access for all. In addition, the German Ethics Council suggests the introduction of legislation to allow "the confidential relinquishment of infants with temporarily anonymous registration".
The "International Year of Biodiversity" is intended to raise political and public awareness of the threat to biodiversity and its significance for human welfare and economic development. Invasive alien species are considered one of the biggest threats to biodiversity. Once they have been introduced, it is almost impossible to limit the spread of these species or eliminate them. Taking ballast water as an example, this issue of the Topical Term shows how difficult it is to prevent and control the introduction of invasive species - particularly in the context of global transport and trade.
A public debate is currently taking place in Germany regarding whether it is permissible for data obtained illegally by individuals to be purchased by the German authorities and subsequently be used as evidence in criminal proceedings. Against this background, this information bulletin documents two relevant criminal court rulings which, following the purchase by the Federal Intelligence Service of data from a Liechtenstein bank in 2007, concluded that the evidence was admissible.
The ideas currently under consideration by US President Barack Obama concerning the separation of the activities of investment and commercial banks recall the Glass-Steagall Act of 1933. That law formed part of a package of economic and social reforms known as the New Deal to combat the effects of the global economic crisis at that time. This was preceded by public hearings held by the Pecora Commission, named after the New York prosecutor Ferdinand Pecora, which had been established by the then Administration to investigate the failings of the US financial system that had led to the financial crisis.