Wirecard?

Sounds vaguely familiar. Very vaguely. No, come to think of it, never heard of Wirecard.

It was an innocuous question, posed shortly before midnight some nine hours into an exhausting parliamentary hearing into the Wirecard scandal. “Did you ever actually own Wirecard shares?”

MPs will want to know why Merkel lobbied for Wirecard in China when reports about suspected fraud at the company had been in the public domain for months. Scholz will be asked to explain how BaFin, the financial regulator he oversees, not only failed to uncover the Wirecard fraud but went after short-sellers and Financial Times journalists who first highlighted irregularities at the company.

Deutsche Baaaank

It looks like it’s going to be a long fall.

Deutsche Bank

Sorry, I mean it already has been a long fall. But at least this fall is free.

It would be an understatement to say Deutsche Bank AG is going through a difficult period. It chalked up its third straight annual loss in 2017. The new chief executive officer, Christian Sewing, has unveiled the bank’s fourth turnaround plan in as many years, yet its shares have fallen to a record low…

How much time does the bank have? Not a lot.

Der Aktienkurs der Deutschen Bank ist auf ein neues Allzeittief gefallen. Am Mittwochmorgen notierte das Papier bei 8,76 Euro – ein Trauerspiel mit Vorgeschichte.