$33 Billion And Counting

In fines. Up until now.

VW

But would it matter if Volkswagen paid another 30+ billion to German customers too? Who would trust this company anymore, whatever they paid? What did Warren Buffet say? “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.

VW to Sound Out Settlement in German Car-Owners’ Mass Lawsuit – Volkswagen AG and German consumer group VZBV agreed to settlement talks in a court case involving hundreds of thousands of drivers who claim that their diesel cars lost value in the wake of the emission-cheating scandal.

German Of The Day: Deutsche Bank

That means German Bank.

Deutsche Bank

And it’s getting hard to find a financial scandal that this bank is not involved in. When it comes to corruption and criminal activity, it’s the Volkswagen among the banks, you could say. Or the Audi, if you prefer.

Today’s criminal activity: U.S. authorities have tried to seize millions of dollars associated with several companies that deal with North Korea, including the country’s military, from eight large international banks, according to court filings made public on Thursday. Deutsche Bank is among them.

Some of the transactions were processed for Dandong Zhicheng Metallic Material Co and four affiliated “front” companies that prosecutors said tried to evade sanctions through transactions that would benefit North Korean entities, “including the North Korea military and North Korea weapons programs,” according to the filings.

Amerikanische Staatsanwälte haben die Deutsche Bank und sieben weitere Banken im Visier. Der Grund: Sie sollen Geschäfte mit nordkoreanischen Tarnfirmen gemacht haben.

International Olympic Committee To Disqualify All East German Olympic Medals

Just kidding.

The Limpics.

That the IOC seems determined to find a way to strip Armstrong’s time trial medal prompted Bill Mallon, one of the world’s leading Olympic historians, to ask in an email why the Olympic officials can’t do it for the medals won by doped East German athletes.  

It’s a good question.  

There actually is more documented evidence of East German doping than there is of Armstrong’s.  The Stasi (East German secret police) files opened after the 1989 fall of the Berlin Wall gave names, dates, and dosages, implicating many East German Olympic medalists from 1972 through 1988.