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| My Flowers. Magnolia "Der Beatle". Photo ET |
Volkswagen does the Falsewagen
Fartvergnügen
When it comes to
corporate compliance with any US imposed regulatory standard, how can a company
with VW’s outstanding reputation be so willfully engaged in breaking the law? Volkswagen
got caught with a software installed in diesel cars that altered emissions
data. The real pollution levels were 40 times the EPA’s limits.
Someone has devised this scheme, and it will be costly: an expected $18 billion in fines. Who was it? This comes without the inevitable stock drop, by now down by 20%. Volkswagen’s US competitor just got fined $900 million for a negligence, by not addressing ignition problems, a sign that regulators mean it.
Someone has devised this scheme, and it will be costly: an expected $18 billion in fines. Who was it? This comes without the inevitable stock drop, by now down by 20%. Volkswagen’s US competitor just got fined $900 million for a negligence, by not addressing ignition problems, a sign that regulators mean it.
At $18 billion VW’s fine
would be among the highest civil penalty ever paid in the US. Compare to BNP
Paribas’ $9 billion and HSBC’s $2 billion for (willfully) violating sanctions
lists.
Waiting for “Das Auto-psy”
for the explaining to begin.
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