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Bafin boss Felix Hufeld: the unexpected winner of the Wirecard scandal

2020-10-20T12:54:56.677Z


In the course of the accounting scandal, the financial supervisory authority in particular came under fire. President Felix Hufeld had to fear for his job. Now he is becoming more powerful than ever.


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Tidied up: In the Wirecard scandal, the opposition demanded Felix Hufeld's resignation - in vain

Photo: Julia Sellmann

Radical had

Felix Hufeld

(59) can not change the sound.

It was only at the end of June and the deep crash of the long-celebrated Wirecard payment group had just become apparent, the head of the financial supervisory authority BaFin humbly admitted: "We weren't good enough to prevent that," he said at a conference.

"It's a shame that something like that happened."

A few days later, the members of the Finance Committee in the Bundestag experienced a completely different Hufeld.

Resolute, harsh, downright aggressive, he defended himself against any accusation that BaFin or even himself had failed, say those present.

Hufeld's line of defense: The authority's options simply wouldn't have been enough.

The head of BaFin fought for his job.

The Wirecard scandal shook the reputation of Germany as a financial and business location: the BaFin investigations against Wirecard remained inconclusive;

Instead, the authorities reported journalists who had exposed grievances.

Federal Finance Minister

Olaf Scholz

(62), scourged by the opposition, was also under pressure.

The BaFin boss would have been an easy victim.

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Source: spiegel

All news articles on 2020-10-20

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