#MostRead this week: Financial Times reporters Dan McCrum and Stefania Palma on Wirecard and pressures on business journalists
@ambiej @MarketWatchA @WSJn example is WSJ let go an excellent, veteran reporter on the accountancy beat in the middle of the biggest scandal in that industry in years, the KPMG/PCAOB data theft scandal. Leadership indicted! Not enough scoops? WSJ now chasing FT on Wirecard and new wave of frauds. 8/8
Thread: 1/The reality of the Wirecard $WDI fraud is now unavoidably obvious for even the most blinkered of observers. There are profound lessons that should emanate from the $WDI story But first, let’s call out the winners and losers:
Good morning from #Germany , whose reputation as a reliable business location has suffered. The collapse of Wirecard has damaged trust in the German regulatory framework. After the turmoil at VW, Bayer, or Deutsche Bank the Germans are seen as tricksters.
BREAKING: Wirecard's former CEO Markus Braun is arrested after $2.1 billion went missing from the digital-payment company