The Origins of the Wirecard Scandal

Post by allendoerfer » Tue, Apr 27, 2021, 3:23 PM UTC

dna_polymerase wrote: post #99

allendoerfer wrote: post #14

There are federal elections in September in Germany. CDU just fell behind the Green Party in recent polls and SPD (whose Olaf Scholz ultimatively was in charge of BaFin) is a shadow of it's former self anyway. I do not think the everything will turn for the better, but I am hopeful that some actions will be taken. The political style of Merkel - and Germany as a whole for that matter - of a steady hand and waiting fo…

> German universities are indeed world-class. It's not like uneducated people can export this much. We export modern versions of the same motors we did for decades. Took one south african immigrant to overthrow our car companies plans for years. > The university rankings do not take into account that research in Germany happens at Fraunhofer or Max Planck, which are door to door to their respective university and hav…

Post by jasonvorhe » Tue, Apr 27, 2021, 4:53 PM UTC

luckylion wrote: post #66

pjc50 wrote: post #62

Earlier quoted context omitted.

Europe's "mass terrorist attacks" are so much less frequent than US mass shootings that they would barely register. The sexual assault issue seems to have been a couple of big nasty incidents, which were heavily spun by media personalities whose main line of business was talking up the threat of Islam. How big a problem this really is is hard to tell, especially since nightlife has been cancelled for fourteen months.

> The sexual assault issue seems to have been a couple of big nasty incidents, which were heavily spun by media personalities whose main line of business was talking up the threat of Islam. Sorry, but that's nonsense. In Rotherham or Cologne, the opposite was true: the media was actively working on covering it up, not "heavily spinning it" to talk up some threat.

Post by amaccuish » Tue, Apr 27, 2021, 6:08 PM UTC

Thomasmack wrote: post #56

lnsru wrote: post #22

Earlier quoted context omitted.

So many wishful thinking. I bet there will be no changes after election. Why should it be? Germany will continue slowly declining with whole Europe. This pandemic management was/is real shitshow. The universities are other funny thing. They have no future with heavily underpaid staff and work contracts for 6-12 month working contracts. Max Planck and Fraunhofer are sweatshops for industrial partners. They do the task…

> Germany will continue slowly declining with whole Europe. I agree and this is really sad. Thinking of migrating because I plan to have a family and want them to grow up in the best environment. Which countries you guys think will be the best bet?

Post by [deleted] » Tue, Apr 27, 2021, 6:59 PM UTC

ajcp wrote: post #104

stewbrew wrote: post #17

Well, I don't think this article does a good job at explaining the scandal. It seems to me the author had a thesis and is mostly occupied with explaining that. What makes wirecard interesting are all these connections with politicians, oligarchs, secret services etc. Some day in the not so distant future, somebody will make a tv series out of this.

> I don't think this article does a good job at explaining the scandal. I think that's because of their use of "origin". Both the title here and that of the article ("The Weird, Extremely German Origins of the Wirecard Scandal") can be taken two ways: 1. How the Wirecard scandal transpired I think this is what you took it to mean. Where "origin" means the beginnings of the scandal itself. Much like saying "the origin…

Post by pas » Tue, Apr 27, 2021, 7:44 PM UTC

jacquesm wrote: post #52

FabHK wrote: post #43

Earlier quoted context omitted.

> - Another problem is that regulators tend to have a two-way revolving door with the industry they are supposed to regulate. It is pretty rare to see a regulator that really takes such an industry to task. Though the article specifically claims that this rarely happens in Germany, with the boundary between the political and commercial sphere being less porous than elsewhere.

Check out the current leadership of BaFin and other EU regulators and check their track record, and where they typically end up afterwards. The lower ranks hardly matter. If the EU wants to solve this they actually have a head start on other regions, they could investigate each others' industries. I'm sure the French would love to regulate the Germans and vice versa!