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The Differential Management of Financial Illegalisms: Assigning Responsibilities in the Libor Scandal

hal.structure.identifierInstitut de Recherche Interdisciplinaire en Sciences Sociales [IRISSO]
dc.contributor.authorAngeletti, Thomas
HAL ID: 182547
ORCID: 0000-0003-0181-0067
dc.date.accessioned2019-11-29T18:11:32Z
dc.date.available2019-11-29T18:11:32Z
dc.date.issued2019
dc.identifier.issn1540-5893
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/20284
dc.language.isoenen
dc.subjectlawen
dc.subjectfinanceen
dc.subject.ddc306.3en
dc.titleThe Differential Management of Financial Illegalisms: Assigning Responsibilities in the Libor Scandalen
dc.typeArticle accepté pour publication ou publié
dc.description.abstractenHow, in a context of growing critiques of financialization, can law contribute to protecting the legitimacy of finance? This paper argues that the assignment of responsibilities between individuals and organizations plays a decisive role, using the recent Libor scandal as an empirical illustration. To do so, the paper offers a Foucauldian framework, the differential management of financial illegalisms, dedicated to the study of illegalities in financial capitalism. The comparison of the legal treatment of two manipulations of Libor, this key benchmark in financial markets, reveals how mid‐level traders have been the object of criminal prosecution, while law undervalued the role of top managers and organizations. To capture how differential management is performed in practice, I analyze precisely how the conflict‐resolution devices (criminal trial vs. settlement) and the social categorizations prevailing in the two manipulations of Libor favor different forms of responsibility, individual or organizational. I conclude by exploring the implications of law's relationship to financial legitimacy.en
dc.relation.isversionofjnlnameLaw & Society Review
dc.relation.isversionofjnlvol53en
dc.relation.isversionofjnlissue4en
dc.relation.isversionofjnldate2019
dc.relation.isversionofjnlpages1233-1265en
dc.relation.isversionofdoihttps://doi.org/10.1111/lasr.12442en
dc.relation.isversionofjnlpublisherWileyen
dc.subject.ddclabelSociologie économiqueen
dc.relation.forthcomingnonen
dc.relation.forthcomingprintnonen
dc.description.ssrncandidatenonen
dc.description.halcandidateouien
dc.description.readershiprechercheen
dc.description.audienceInternationalen
dc.relation.Isversionofjnlpeerreviewedouien
dc.relation.Isversionofjnlpeerreviewedouien
dc.date.updated2019-11-25T16:37:12Z
hal.faultCode{"meta":{"identifier":{"regexNotMatch":"'https:\/\/doi.org\/10.1111\/lasr.12442' n'est pas un DOI valide, par exemple : 10.xxx"}}}
hal.author.functionaut


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