Tsunami to Hit Germany: Five Auto Companies Admit to Illegal Cartel
mishtalk.com / Mike “Mish” Shedlock / July 24, 2017
Unmasking an Illegal Cartel
The German auto scandal just got much bigger according to a new report by the Spiegel.
Audi, BMW, Daimler, Volkswagen, and Porsche colluded in all aspects of diesel technology.
Effectively, the five corporations acted as one via a series of secret working groups that met several times a year.
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The Spiegel broke the story with its report on the Auto Syndicate Scandal.
The story is in German, and it’s also behind a pay wall. Eurointelligence has a nice Email report.
Spiegel magazine has an absolutely shocking account of a cartel between the five motor companies – VW, Daimler, BMM, Porsche, and Audi. The original article is worse than any summary we have read because of the many details the two authors have dug up in a large investigation. Coming on top of the diesel emissions scandal, the reputation of the German car industry has been reduced to that of a criminal organization. Unlike the authors, we are less worried about the fines, which will be large, than about the long-term commercial impact.
The post Tsunami to Hit Germany: Five Auto Companies Admit to Illegal Cartel appeared first on Silver For The People.
Source: http://silveristhenew.com/2017/07/24/tsunami-to-hit-germany-five-auto-companies-admit-to-illegal-cartel/
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Colluded. Word of the decade.