Germany’s top financial supervisor dismissed a decade of warnings about Wirecard (wsj.com)

Article summary

The article discusses Germany's top financial supervisor dismissing warnings about Wirecard, a company that was involved in a major scandal. The comments suggest that this is not an isolated incident and that there may be a pattern of corruption and cronyism in Germany's government and corporate world. The Volkswagen emissions scandal is cited as another example of this. The German government's relationship with large corporations, including those it owns stakes in, is also questioned.

Main themes

• corruption in Germany
• government ownership of corporations
• regulatory capture
• lack of accountability
• cronyism
• conflicts of interest

What commenters say

• Germany's government and corporate world are plagued by corruption and cronyism, with politicians and regulators often turning a blind eye to wrongdoing.
• The country's system of government ownership of corporations can create conflicts of interest and undermine regulatory effectiveness.
• Politicians should be held to a higher standard than the letter of the law, and their voters should demand greater accountability.
• The lack of transparency and accountability in Germany's government and corporate world makes it difficult to root out corruption and ensure that those responsible are held accountable.
• Legislation and regulations are inadequate to prevent corruption and cronyism, and need to be changed to ensure greater transparency and accountability.
• The fact that politicians are not always held accountable for their actions does not mean they are untouchable, but rather that the system is flawed and needs to be reformed.
• The German government's practice of promoting problematic politicians to higher positions, such as the EU parliament, is seen as a way of avoiding accountability and hiding corruption.
• The line between corruption, incompetence, and unethical behavior is often blurred, and it is difficult to determine what constitutes a crime and what does not.