(Bloomberg Opinion) — After every financial scandal, the natural question that gets asked is: Where were the regulators?The answer, usually, is asleep at the wheel — or MIA altogether. When the U.S. Securities and Exchange Commission opened a formal probe into Enron in 2001, the energy-trading giant had already lost 83% of its market value and was weeks from declaring bankruptcy. More recently, a string of money-laundering scandals in Europe has shown watchdogs missed warning signs for years.When it comes to the spectacular collapse of German fintech darling Wirecard AG, though, things are rather more embarrassing. We know exactly what …read more
Source:: Yahoo Finance
