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Commerzialbank: “Where do you get so much money for doing nothing?”

Pucher is said to have been in charge everywhere. Cooperative meetings took place four times a year, “at every meeting of the bank’s supervisory board”. So much had been discussed in around two hours that he could no longer remember “what everything”.

When asked whether he had fulfilled his duty of supervision, the ex-supervisory board chairman replied: “No answer”. It was only after the bank crashed that he found out that he held “quite a few shares” in the owners’ cooperative. “I don’t know why,” Giefing guessed, Pucher must have “thrown it up” for him.

Only once did Giefing dare to oppose Pucher. At the end of the 1990s, the banker wanted Giefing Krensdorfer to remain Mayor of the ÖVP. Giefing stood firm and took off his hat after two years. Why? “The harmony was not right”.

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