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That's an interesting example; Wirecard is a case of regulatory failure in that it before its collapse, the German financial regulator BaFin had been instead f
by andylynch 6y ago
That's an interesting example; Wirecard is a case of regulatory failure in that it before its collapse, the German financial regulator BaFin had been instead filing criminal complaints against reporters and short seller covering the firm.
- ClumsyPilot 6y agoSure that proves that Wirecard was not regulated properly, and needs regulation. If a city burned down because all firefighters were drunk, noone would be arguing that we don't need firefighters.
- andylynch 6y agoQuite right - in that case, wirecard bank was (poorly?) but the parent company is a more ordinary but prominent public company and they were clearly more concerned about potential market abuse in the stock then what the company itself was up to.