After one week of hellish trading, the Gowex shadow is still looming across Spain. Jenaro García's fraud unveils a long list of culprits whose prestige and power are blemished forever. Unfortunately, the MAB was not able to regulate effectively and analyst shops recommended that people buy a stock even though nobody bothered to check the company's balance sheet.
People who owned other MAB stocks were also hurt as were the exchange's workers and the Spanish name. Even if swindles are an inevitable part of business everywhere, what happened with Gowex can teach us how to correct mistakes and create more transparency in a market that is necessary to drive growth for small- and mid-size companies.
