Cheaters? Recalls? Discuss

   #565  

Jack@European_Parts

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   #566  

Uwe

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This falls into cheating still & recall of scholastic in-achievement ;)
Students, parents file suits over 'sanctity' of admissions process; one mom wants $500 B
$500B is just patently absurd. If I were the judge, I would indeed give them something: The exactly amount of their application fee; I think it's $85.

Nobody has a "right" to be admitted to any particular university.

-Uwe-
 
   #567  

Jack@European_Parts

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The short to come is here?

https://www.nydailynews.com/news/ny-news-sec-volks-20190315-story.html

SEC accuses Volkswagen of raising billions of dollars in 'massive' clean diesel fraud

https://www.nytimes.com/2019/03/15/business/volkswagen-winterkorn-sec-fraud.html
Ex-VW Chief Knew of Diesel Scheme Years Earlier Than He Admitted, S.E.C. Says

https://www.reuters.com/article/uk-...ed-emissions-fraud-on-investors-idUSKCN1QW0J5

U.S. SEC sues Volkswagen, ex-CEO over alleged emissions fraud on investors


https://www.foxbusiness.com/industrials/sec-charges-volkswagen-with-defrauding-us-investors

SEC charges VW, former CEO with defrauding US investors


https://www.bbc.com/news/business-47578888

Volkswagen and former boss face US lawsuit over Dieselgate

_101161709_gettyimages-632050316.jpg

[h=1]SEC Charges Volkswagen With Defrauding U.S. Bond Investors[/h]

 
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   #568  

Jack@European_Parts

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https://www.sec.gov/news/press-release/2019-34

https://www.sec.gov/files/complaint-2019-03-14_0.pdf

S




U.S. SECURITIES AND EXCHANGE COMMISSION






SEC Charges Volkswagen, Former CEO With Defrauding Bond Investors During "Clean Diesel" Emissions Fraud

FOR IMMEDIATE RELEASE
2019-34

Washington D.C., March 14, 2019 —
The Securities and Exchange Commission today charged Volkswagen AG, two of its subsidiaries, and its former CEO, Martin Winterkorn, for defrauding U.S. investors, raising billions of dollars through the corporate bond and fixed income markets while making a series of deceptive claims about the environmental impact of the company's "clean diesel" fleet.
According to the SEC's complaint, from April 2014 to May 2015, Volkswagen issued more than $13 billion in bonds and asset-backed securities in the U.S. markets at a time when senior executives knew that more than 500,000 vehicles in the United States grossly exceeded legal vehicle emissions limits, exposing the company to massive financial and reputational harm. The complaint alleges that Volkswagen made false and misleading statements to investors and underwriters about vehicle quality, environmental compliance, and VW's financial standing. By concealing the emissions scheme, Volkswagen reaped hundreds of millions of dollars in benefit by issuing the securities at more attractive rates for the company, according to the complaint.
"Issuers availing themselves of American capital markets must provide investors with accurate and complete information," said Stephanie Avakian, Co-Director of the Division of Enforcement. "As we allege, Volkswagen hid its decade-long emissions scheme while it was selling billions of dollars of its bonds to investors at inflated prices."
The SEC's complaint, filed in the U.S. District Court for the Northern District of California, charges Volkswagen AG, its subsidiaries Volkswagen Group of America Finance, LLC and VW Credit, Inc., and Winterkorn with violating the antifraud provisions of the federal securities laws. The SEC complaint seeks permanent injunctions, disgorgement of ill-gotten gains with prejudgment interest, and civil penalties. The complaint also seeks an officer and director bar against Winterkorn.
The SEC's investigation was conducted by Kevin Wisniewski, Jake Schmidt, Amy Flaherty Hartman, and Daniel Nigro of the Complex Financial Instruments Unit and the Chicago Regional Office, under the supervision of Jeffrey Shank and Daniel Michael, Chief of the Enforcement Division's Complex Financial Instruments Unit. The litigation is being led by Daniel Hayes.
 
   #569  

Uwe

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https://www.nydailynews.com/news/ny-news-sec-volks-20190315-story.html
SEC accuses Volkswagen of raising billions of dollars in 'massive' clean diesel fraud
https://www.nytimes.com/2019/03/15/business/volkswagen-winterkorn-sec-fraud.html
Ex-VW Chief Knew of Diesel Scheme Years Earlier Than He Admitted, S.E.C. Says
https://www.reuters.com/article/uk-...ed-emissions-fraud-on-investors-idUSKCN1QW0J5
U.S. SEC sues Volkswagen, ex-CEO over alleged emissions fraud on investors
https://www.foxbusiness.com/industrials/sec-charges-volkswagen-with-defrauding-us-investors
SEC charges VW, former CEO with defrauding US investors
https://www.bbc.com/news/business-47578888
Volkswagen and former boss face US lawsuit over Dieselgate
[h=1]SEC Charges Volkswagen With Defrauding U.S. Bond Investors[/h]
Wait, where is the harm to investors? VW is not in default of any bonds, are they?

-Uwe-
 
   #572  

Jack@European_Parts

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Wake me up if/when VW defaults on any of those bonds.

-Uwe-

OKAY!

Should l bring the donuts & coffee before market trading starts for projected guess charts?

Buy the DIP?

 
   #573  

Uwe

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"Buy the Fucking Dip" has indeed worked for just about 10 years now. :facepalm:

-Uwe-
 
   #576  

Jack@European_Parts

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   #578  

DV52

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Jack: I'm not sure which side of the tariff debate you sit - but as a clearly intelligent bloke, I assume that you are ruled by reason and cogent argument. Personally, I admit to being somewhat of an "eco-rat" (it's a shortened version for the Aussie term "economic rationalist") -so my preference is for liberal policies that allow markets to operate with the least amount of Government intervention.

My problem with how I understand Mr Trump's tariff proposal is that I don't see why it won't just mean more profit for American industrialists and higher prices for American consumers? Fact is that most manufacturers of stuff (be they American, or foreign) are driven by the principle of price maximization and cost minimization. The thing that provides a discipline to this ethic should be unrestrained commercial competition and minimal government intervention only where commercial competition is found wanting.

When countries were developing their international trade credentials and their fledgling industries (as was the case last century)- modest tariffs had a legitimate role. But in the 21st century and for a country which has one of the world's most significant economic markets -is tariff imposition really in USA's best interest?

It's all so eloquently summarized in the principle of comparative advantage

Don
 
   #579  

Jack@European_Parts

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Don,

"credentials "
What like good engineering judgement?


Personally, I'm for low cost trade but it needs to be with balance in addition to anti dumping enforcement and indeed markets are disrupted worldwide by such over production to force a burn out strategy & that wastes resources and destroys the infrastructure + environment by means of cheating the rules of the game & that is captured by essentially self regulation.

"We swear it comports, honest, signed the dumper!"

Right?
 
   #580  

Uwe

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My problem with how I understand Mr Trump's tariff proposal is that I don't see why it won't just mean more profit for American industrialists and higher prices for American consumers?
What Trump really wants is no tariffs in either direction. Tariffs on cars coming into the US from from Europe have been 2.5%, while tariffs on cars coming into Europe from the US have been 10%, and it's been that way for decades.

Trump is playing poker. "I'll see your 10% and raise you 15% more."

-Uwe-
 
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