How the biggest fraud in German history unravelled
> A German parliamentary inquiry held a hundred witness hearings and reviewed nearly four hundred thousand pages of documents, concluding that the behavior of Wirecard and its enablers was “the largest financial scandal in the history of the Federal Republic of Germany.” The report blamed “collective supervisory failure,” “the longing for a digital national champion,” and “the German mentality toward non-Germans”—specifically, Quadir and McCrum. “German supervisory authorities are not fit for the ‘Internet Age,’ ” the report concluded.<p>It's not just “the longing for a digital national champion”, but also the idea that american startups are more successful because they are more ruthless, more willing to lie, to commit fraud, an idea which I also see on this forum.