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German banks morally backrupt as well

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posted on Sep, 3 2010 @ 05:52 PM
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See, it is not only American financial institutions that need help
www.spiegel.de...
child porn, b&e, bugging - all normal at work

HSH was in such serious trouble that its supervisors chose to place their unconditional trust in CEO Nonnenmacher, believing that he had the professional competence and ability to rescue the bank. One man in particular, Supervisory Board Chairman Hilmar Kopper, tied his fate to that of Nonnenmacher. By insisting that if Nonnenmacher went, so would he, Kopper went from being a watchdog to a participant. The bank's supervisory board accepted as a necessary evil the possibility that Nonnenmacher, the mathematics professor, analyst and numbers man, had a worrisome blind spot when it came to matters of morality. He insisted on his special payment of €2.9 million, with no regard for the crisis it triggered in the governments of Hamburg and Schleswig-Holstein and the deep resentment it generated among bank employees whose bonuses he had cancelled during the crisis.




 
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