From July 1919 Rasche served as a court clerk in Hamm, but moved in 1921 to work at the Barmer Bank Corporation, where he became a rehabilitation specialist.

From 1933, Rasche was also a member of the German Labor Front (DAF), the Rechtswahrerbund (Lawyer's association), and the Nationalsozialistischer Reichsbund für Leibesübungen, the umbrella organisation for sports.

From the mid-1930s, he served as Chairman or Board member in the war effort and also led the business departments of the subsidiaries Handelstrust West NV (Amsterdam) and Continentale Bank SA (Brussels).

His participation in the Nazi regime is also demonstrated in the transfer of Czech arms factories to the Reichswerke Hermann Göring, which he carried out together with Hans Kehrl [de].

In November 1945 Rasche was appointed to exchange information with the Office of Military Government, United States investigators in the American occupation zone.

Regarding the seventh indictment of collaborating in slave labour, the prosecution could not prove conclusively whether Rasche had visited concentration camps or taken loans to pay for their building.

Rasche continued working as a consultant and died as a result of a heart attack on a commuter train to Basel in September 1951.