Chutzpe-Schutzpässe

Protective passes with brio.

Wonderful discussion on Australian radio about Swedish diplomat Raoul Wallenberg’s artistry, imagination and powers of persuasion which he used to save thousands of Hungarian Jews from the Nazis.

As an architect, he could design very satisfying fake Swedish documents, with lots of stamps. He successfully used the fact that many Nazi soldiers hadn’t learned many foreign languages in school. German guards told to shoot at him were even said to have fired over his head because they admired his bravery.

(Chutz pah   shutz pess ah.)

„Es gibt ein paar tausend Banken in Europa, da kann man nicht alle kennen“

“There’s thousands of banks in Europe and you can’t know all of them”

is how BayernLB supervisory board member and former Bavarian state Economy Minister Erwin Huber (C.S.U.) supposedly explained in his April Fools Day testimony why he gave his approval to purchase the Hypo Alpe Adria yet knew nothing about the Carinthian bank. An S.P.D. politician responded, “Anyone who publicly documents their political inadequacy so authentically is, as the chair of the Economy Committee, a problem.” Mr. Huber has been chairing the Bavarian state parliament’s Economy Committee since October 2013.

Munich prosecutors had said they did not want to prosecute BayernLB’s supervisory board members for approving overpayment of >500 million euros in the purchase deal—plus some bribes that might be easier to prosecute, in separate trials—because the supervisory board was fooled by the dishonest representations of the bank’s management board, the defendants in the current trial. Three high-ranking C.S.U. politicians from the supervisory board have now testified at the management board’s criminal trial and stated that they were satisfied with the information presented to them by the management board in its argument for purchasing the HGAA.

Defendants in the trial of the BayernLB management board include Michael Kemmer, who moved on to become “managing director of the German Bankers’ Association” [Hauptgeschäftsführer des Bankenverbands], “an influential lobbyist.”

At the time BayernLB bought Hypo Alpe Adria, C.S.U. politicians on BayernLB’s supervisory board [Kontrollgremium] such as Bavarian finance minister Kurt Faltlhauser, interior minister Günther Beckstein and economics minister Erwin Huber wanted the Bavarian state bank to expand, into the Balkans. Bavaria’s then-governor Edmund Stoiber (C.S.U.) made a similar statement to journalists while on a visit to Croatia about then, ZDF heute journal reported.

Apparently BayernLB also bought a loss-plagued Hungarian bank that they want to sell.

(Ess   kipped   eye n   pah   t OW! zenned   BONK en   inn   oy ROPE ah,   dah   cannes   mon   nichh t   OLL ah   ken en.)

Der Dickmacher

The thickmaker,” sugar. On 23 April 2013 the European and German Cartel Authorities carried out razzias at sugar processing plant company offices in four countries for suspected price fixing from 2004 to 2011. Sugar’s well-meant but interestingly unusual regulatory status in Europe has led to a lack of transparancy that apparently made it possible for pricing questions to arise. By law, 15% of European sugar must be imported from developing countries. European farmers who grow the roots from which the remaining 85% is processed are guaranteed a minimum price, but at strictly controlled quantities. Sugar beet farmers have to sell their product to the sugar-processing factories; very little sugar is traded on the open market. The six largest sugar processing companies control 80% of the European sugar market, writes the Süddeutsche. Two German sugar processors control 40% of the European market. The processing factories set the prices, which do not always track with world sugar prices. German consumers have been paying between EUR 0.60 and 1.00 per kilo (annual consumption averages ~36 kg/year/German). Sugar root farmers were getting 27 euros per ton until 2012 when, after a good harvest, the price jumped to 45 to 50 euros per ton.

Update on 18 Feb 2014: The German cartel authority [Bundeskartellamt] has fined Germany’s three largest sugar manufacturers ~280 million euros for collusion. The companies Pfeifer und Langen, Südzucker and Nordzucker were fined, as well as seven individuals. Südzucker had to pay nearly 200 million euros but Nordzucker’s cooperation substantially reduced that company’s fine.

(Dare   DICK maw caw.)

Morgenluft

Morning air,” freshness, energy. This tailwind is said to be enjoyed by antisemites in Hungary right now, some of whom are friends with Prime Minister Orbán’s party and/or are themselves regime members. An openly antisemitic party is the third strongest in the Hungarian parliament after their most recent election. Which is why the World Jewish Congress made the wise decision to hold its annual meeting in Budapest this year, to draw attention to what looks like a terrible problem starting to grow in the middle of Europe.

Mr. Orbán’s right-wing government recently passed constitutional reforms about which Europe and the USA have expressed concerns. The questionably democratic amendments included restricting the Hungarian supreme Constitutional Court’s ability to adjudicate laws passed with a 2/3 parliamentary majority, changing people’s right to vote and making it possible to outlaw homelessness.

(MOAH genn LOOFT.)

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