Made In Germany

Remember when Germany was known for virtues like incorruptibility, restraint, discipline and a sense of justice?

WireCard

Yeah, me neither. The Wirecard meltdown – and let’s not forget Volkswagen’s Dieselgate, the „Cum-Ex“ files, practically everything Deutsche Bank has ever done, etc. – is yet another reminder of a much greater problem here: Dishonesty and corruption.

The collapse of tech giant Wirecard triggers national angst in Germany – Politicians and officials in Germany are scrambling to tighten up the regulatory oversight of fintech companies following the collapse last month of Wirecard, the online payment processor.

The company, once worth more than $27 billion, filed for insolvency after admitting that a huge fraud had been perpetrated and that more than $2 billion was missing from its accounts. The CEO, Markus Braun, resigned and was arrested. As Europe’s largest fintech, Wirecard was widely regarded as a national champion in Germany, and so the collapse has caused a national bout of soul searching.

“You don’t get to a 2 billion euro [$2.3 billion] hole in your accounts overnight. Something clearly had to have been happening over quite a prolonged period of time.”

Monsanto Not Nearly As Evil As It Was Just A Few Hours Ago

That’s because a German company is now trying to buy it (although they do appear to be choking on it at the moment). Germans are like Green with a capital G or something, you see.

Soybeans

It (Monsanto) has been characterized variously as sinister, evil and a corporate bully. Surveys rank it among the most hated companies in America. And now Bayer AG wants to buy it…

“Monsanto has been better defined by the critics than they should’ve been. We see often times a company has a terrible reputation that often is not that they’ve done something horrendously bad. They’ve just let others define them.”

Von Monstermais und Frankenfood: Die Welt hat sich verändert. Vor hundert Jahren ernteten Getreidebauern in Deutschland je Hektar kaum ein Viertel der Menge, die die Landwirte heute einfahren.