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GFIs1
PS: This trade ended badly because of the bad news about the German cartel from
all car makers that stared this cartel 1990 that finally ended in the diesel scandal.
More black clouds at the horizon and probable large fines - if things are clear.
The news came out after 11:30 today that VW self-reported this fact to have had
secret meetings from top managers from VW, Audi, Porsche, BMW, Daimler. More
than 200 workers discussed together in 60 groups to define things to circumvent
competition rules.
Special: All trades started with LOW volume - means higher risk.
This could have given positive results as well - just a hint for taking the risk or not.
To those interested in German car makers - with a glimpse into the diesel scandal
might be finding valuable information (always updated) in the thread started by @rleplae back in September 2015 when the scandal came to surface.
The charges in US for the 500k cars with that motor software are calculated up to 18 billion Euros.
Not included the consumers who want some money back...
Even higher will be the punitive damages (US legal) that can have a leverage of 200.
In fact - …
Of course VW is not the only one in the spotlights - today we know of many details behind the scenes
that affect VW, AUDI, Porsche, BMW, Daimler - and some more car makers from abroad.
Things get real heavy now as EU is making interventions, people in Germany are not happy
about the development and finally the German elections are near: in September things will
be more clear - depending on the parties winning.