VW Cheating - Corporate Criminal America
It was inside the emissions control. A simple engine emissions control software that changed and deceived testing during emissions checks. Back on the open road emissions were blowing out at alarming levels. Emissions were in fact up to 40x higher than anticipated.
However, there must be a massive paper trail. A cheating engine management software piece was developed. It was created to dodge emissions and make the auto everything it was marketed to not be. This is a massive scandal.
Many consumers - if not every singe one - will be left with a financial burden.
This is an ideal test case, perhaps. Criminal or civil liability for the corporation and individuals who were behind this is inevitable. But this is rumoured to be the standard in Europe? Sanctions are allowed in the US but not in Europe. What standards will be enforced and will this change the European and US market?
The stock has also tanked, so that opens the door to shareholder lawsuits.
Liability is being estimated at $18B or more. I agree with estimates that this scandal will topple BP's gulf disaster, and think liability will be over $50 billion.
Corporate criminal liability? Go-go carbon finance.