Paul Singer and the Volkswagen management are both equally odious. Seems like a marriage made in heaven. I am content to watch the show without taking sides.
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Urgh...so now sludge fund thieves are literally gambling on the court case now that VW won't make them a killing. (Unless you count the gassed monkeys who almost WERE the killing...*shudder* horrible!)
That won't fix carmaker corruption, much less the real problem: the software affected the car's legal compliance AND was used to attack the climate AND could've spied on drivers, so it ought to have been free. Source code and public repo and all that.
Gods, can we just, like, ban sludge funders already? They truly are worthless to society—you can't even show them to kids to say Don't Be That Guy, because no actual person actually dreams to want to destroy their own economy like that. And they make markets build wasteful fast computers just to handle the trade glut. Even marketers pretend to be human sometimes; these types have quit bothering.
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Am I right in reading, that VW's defense boils down to:
Lower level employees did it, when the board found out, it tried to stop it and it had no idea how much the scnadal would end up costing the company, so the Board said sorry and its directors should be allowed to go their merry ways (and retire on full pensions).
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So our capitalist economy comes to this--billionaires investing in court battles to increase their bets on investments. "The practice is known as litigation funding, and effectively turns court cases into investment opportunities. "
After Singer helped bankrupt a country in the interests of profit, he demonstrates once again that the way to make money is bankrupt companies with short-selling, call debts for investments of money you "earned".
Hedge fund billionaire Paul Singer's vicious strategies include bullying ...
https://qz.com/.../hedge-fund-billionaire-paul-singers-ruthless-strategi......
Jun 9, 2017 - Paul Singer of Elliott Management isn't afraid to play rough ... for its 15-year battle with the government of Argentina, whose bonds were owned ...
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