When a series of roadside bombs hit a bus carrying members of the Borussia Dortmund football club last week, it was easy to assume that this was somehow related to islamist causes, which have been responsible for — or, at least, eager to claim credit for — much of the most prominent random violence in Europe in recent years. But this attack turns out to be linked instead to the age-old prime mover in random violence against civilians: Finance.
The accused is believed to have acted for profit, attempting to kill or injure as many members of the Borussia Dortmund team as possible with the bomb. According to the investigators, he hoped to profit from a fall in the value of the team’s stock… The suspect had opened a [€40,000] consumer credit line and purchased 15000 put options.
Is this really illegal? I’m sure he just needs the right academic economist to explain to the investigators how important it is to increase liquidation in the market. It’s reminiscent of the scene in Catch 22 where Milo Minderbinder explains the logic of private enterprise:
One day Milo contracted with the American military authorities to bomb the German-held highway bridge at Orvieto and with the German military authorities to defend the highway bridge at Orvieto with antiaircraft fire against his own attack. His fee for attacking the bridge for America was the total cost of the operation plus six per cent and his fee from Germany for defending the bridge was the same cost-plus-six agreement augmented by a merit bonus of a thousand dollars for every American plane he shot down. The consummation of these deals represented an important victory for private enterprise, he pointed out, since the armies of both countries were socialized institutions. Once the contracts were signed, there seemed to be no point in using the resources of the syndicate to bomb and defend the bridge, inasmuch as both governments had ample men and material right there to do so and were perfectly happy to contribute them, and in the end Milo realized a fantastic profit from both halves of his project for doing nothing more than signing his name twice… It was an ideal arrangement for everyone but the dead man in Yossarian’s tent, who was killed over the target the day he arrived.
I’m skeptical of the claim that “This seems to be a crime without precedent in German history, and may represent a completely new phenomenon.”