The 2.6 Terabytes That Toppled a Global Financial System
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The 2.6 Terabytes That Toppled a Global Financial System
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The 2.6 Terabytes That Toppled a Global Financial System
This episode explores the improbable journey of the Süddeutsche Zeitung, from its origins on the printing presses that once produced Mein Kampf to its near-collapse and subsequent rescue. It delves into the challenges faced by a newspaper committed to freedom as it grapples with its own survival and the arrival of an unprecedented data leak.
Person: Major Bernard B. McMahon
Date: October 6, 1945
Location: Munich, Bavaria
Data size: 2.6 terabytes
Firm: Mossack Fonseca
- Major Bernard B. McMahon was tasked with finding untainted Germans to build a free press in post-war Munich.
- Three men, August Schwingenstein, Edmund Goldschagg, and Franz Josef Schöningh, founded the Süddeutsche Zeitung.
- The newspaper launched on October 6, 1945, using the same printing presses that had previously produced Mein Kampf.
- In 2002, the Süddeutsche Zeitung faced bankruptcy, leading to a 150 million euro rescue by Südwestdeutsche Medien.
- The newsroom staff was reduced from 425 to 307 employees over three years following the financial crisis.
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