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Old January 6th, 2016, 06:43 PM   #1
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The US government continues prove that the US economy is not a free market

the US government continues to pick winners and losers not even making an attempt to pretend that we have a free market economy. regardless of how one feels about government regulations on manufacturing the fact that the numbers involved in this lawsuit are far beyond the value of the cars or any reasonable calculations of damages (whatever they are)


VW faces billions in fines as U.S. sues for environmental violations

WASHINGTON/FRANKFURT (Reuters) - The U.S. Justice Department has sued Volkswagen for up to $48 billion for allegedly violating environmental laws - a reminder of the carmaker's problems nearly four months after its emissions scandal broke.

Although such U.S. lawsuits are typically settled at a fraction of the theoretical maximum penalty, analysts said the size of the claim meant Volkswagen (VW) could face a larger bill than previously anticipated.

"The announcement serves as a reminder/reality check of VW's still unresolved emissions issues," Goldman Sachs analysts wrote in a note, maintaining their "sell" recommendation on the stock.

VW shares fell as much as 6 percent to a six-week low on Tuesday, the biggest drop on Germany's blue-chip DAX index.

The civil lawsuit, announced on Monday, reflects the growing number of allegations against VW since the German company admitted in September to installing devices to cheat emissions tests in several 2.0 liter diesel vehicle models.

According to a Reuters review of the U.S. complaint, VW could in theory face fines of as much as $37,500 per vehicle for each of two violations of the law; up to $3,750 per "defeat device"; and another $37,500 for each day of violation.

VW faces billions in fines as U.S. sues for environmental violations
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Last edited by imaginethat; January 6th, 2016 at 08:35 PM. Reason: Capitalized "the"
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Old January 6th, 2016, 07:23 PM   #2
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the US government continues to pick winners and losers not even making an attempt to pretend that we have a free market economy. regardless of how one feels about government regulations on manufacturing the fact that the numbers involved in this lawsuit are far beyond the value of the cars or any reasonable calculations of damages (whatever they are)


VW faces billions in fines as U.S. sues for environmental violations

WASHINGTON/FRANKFURT (Reuters) - The U.S. Justice Department has sued Volkswagen for up to $48 billion for allegedly violating environmental laws - a reminder of the carmaker's problems nearly four months after its emissions scandal broke.

Although such U.S. lawsuits are typically settled at a fraction of the theoretical maximum penalty, analysts said the size of the claim meant Volkswagen (VW) could face a larger bill than previously anticipated.

"The announcement serves as a reminder/reality check of VW's still unresolved emissions issues," Goldman Sachs analysts wrote in a note, maintaining their "sell" recommendation on the stock.

VW shares fell as much as 6 percent to a six-week low on Tuesday, the biggest drop on Germany's blue-chip DAX index.

The civil lawsuit, announced on Monday, reflects the growing number of allegations against VW since the German company admitted in September to installing devices to cheat emissions tests in several 2.0 liter diesel vehicle models.

According to a Reuters review of the U.S. complaint, VW could in theory face fines of as much as $37,500 per vehicle for each of two violations of the law; up to $3,750 per "defeat device"; and another $37,500 for each day of violation.

VW faces billions in fines as U.S. sues for environmental violations
So what?
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Old January 6th, 2016, 07:27 PM   #3
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So what?
I suspect that this is intrigue and subterfuge to smash a foreign auto company. I suspect that GM, Chrysler and Ford are behind the scenes and have a hand in it.
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Old January 6th, 2016, 07:28 PM   #4
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So what?
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Old January 6th, 2016, 07:30 PM   #5
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I suspect that this is intrigue and subterfuge to smash a foreign auto company. I suspect that GM, Chrysler and Ford are behind the scenes and have a hand in it.
probably not ford so much, as they are not part of socialist motors
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Old January 6th, 2016, 07:35 PM   #6
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You boys are really into the cartoons. Funny.
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Old January 6th, 2016, 07:36 PM   #7
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probably not ford so much, as they are not part of socialist motors
The RW political meme is "Government Motors", GM. Get it?
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Old January 6th, 2016, 07:44 PM   #8
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The RW political meme is "Government Motors", GM. Get it?
you see by attempting to appear clever you actually come across as silly, nothing new though. grab your shovel if you like.
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Old January 6th, 2016, 07:50 PM   #9
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The RW political meme is "Government Motors", GM. Get it?
Since the General motors is still owing US Taxpayers 11+ billion dollars,
Yes, Government motors is correct.

U.S. government says it lost $11.2 billion on GM bailout | Reuters
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Old January 6th, 2016, 07:55 PM   #10
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you see by attempting to appear clever you actually come across as silly, nothing new though. grab your shovel if you like.
I am correct, that is without doubt. As to whether or not I was attempting to appear to be "clever" is entirely subjective, a matter of personal opinion and pretty much irrelevant to me. *shrug*
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