What happens if market economy and a socialist country clash? Doc about the “Treuhand, which privatized state owned East German companies after the fall of the Wall. In the early summer of 1990 the Treuhandanstalt (trust agency) was founded. In the following four years, about 4,000 companies were shut down and about over 2 million jobs were lost. Until its closure in 1994, the Treuhand contracted a debt of about 256 billion Deutschmarks and was defrauded of many billions. Most debtors went free, most of them were not even sued, and the scandal was never investigated.
What happens if market economy and a socialist country clash? Doc about the “Treuhand, which privatized state owned East German companies after the fall of the Wall.
In the early summer of 1990 the Treuhandanstalt (trust agency) was founded. In the following four years, about 4,000 companies were shut down and about over 2 million jobs were lost. Until its closure in 1994, the Treuhand contracted a debt of about 256 billion Deutschmarks and was defrauded of many billions. Most debtors went free, most of them were not even sued, and the scandal was never investigated.