Germany’s top financial supervisor dismissed a decade of warnings about Wirecard
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Re: Germany’s top financial supervisor dismissed a decade of warnings about Wirecard
#2Germany also did not aggressively investigate Volkswagen for the emissions scandal.
https://www.reuters.com/article/uk-volkswagen-emissions-germ...
Re: Germany’s top financial supervisor dismissed a decade of warnings about Wirecard
#3Even worse, the german treasury secretary Olaf Scholz apparently was already informed about the suspicions the BaFin had back in February 2019.
Re: Germany’s top financial supervisor dismissed a decade of warnings about Wirecard
#4Also, under Helmut Kohl, despite advice from experts to use fiber, the German government wired the whole country with copper instead because the ministry of infrastructure at the time had stocks in the copper business leaving the country's internet behind Ukraine or Belarus.[1]
If you're on the DAX or a politician, you're untouchable in Germany and lots of people inside and outside of Germany have no idea of how insanely corrupt the German government and their corporate buddies are.
Sure, it's not like Russia or the CCP and you're not in danger of being suicided if you uncover some high level dirt but nobody really ever gets punished when obvious corruption gets proven so I have no idea how they always manage to looks so good in the corruption statistics.
[1] https://www.spiegel.de/netzwelt/web/deutschland-warum-unsere...
Re: Germany’s top financial supervisor dismissed a decade of warnings about Wirecard
#5What do you expect from a country with more lobbyists than members of the federal parliament.
Re: Germany’s top financial supervisor dismissed a decade of warnings about Wirecard
#6What do you expect from a country with more lobbyists than members of the federal parliament.
Uhm, if that's your metric then I have bad news for you on emigration opportunities ...
Re: Germany’s top financial supervisor dismissed a decade of warnings about Wirecard
#7What do you expect from a country with more lobbyists than members of the federal parliament.
Wouldn’t most countries experience this reality? Upper limit on members of a parliament is probably a couple of hundred, and lobbyists would almost always outnumber them.
Re: Germany’s top financial supervisor dismissed a decade of warnings about Wirecard
#8Re: Germany’s top financial supervisor dismissed a decade of warnings about Wirecard
#9Germany also did not aggressively investigate Volkswagen for the emissions scandal. https://www.reuters.com/article/uk-volkswagen-emissions-germ...
The state government of lower Saxony (the state where VW is based) owns 25% of VW. I don't think that's a coincidence.
Edit: looks like it's 20%
Re: Germany’s top financial supervisor dismissed a decade of warnings about Wirecard
#10The denial here was pretty strong, as Wirecard was one of the few success stories of a German technology company rising into the DAX that _wasn't_ founded over 80 years ago. Sadly, this may only fuel skepticism towards tech further instead of causing the possibly necessary reforms.