announced his resignation on Wednesday has been plummeting
More here – VOX
I do struggle to understand how for some people greed is such a powerful motivator that they will behave in the most appalling ways. I am quote certain that within the minds of those responsible there is such a powerful form of cognitive dissonance justifying what the actions they took. In their own minds they are probably surprised by all the fuss. I had a conversation with a criminal barrister mate several years ago and he had a theory that there were two types of criminals. the first were simply too stupid to formulate a world view where in their actions had consequences. These are the sort who walk into the local service station and rob it in full view of the security cameras. Apparently, this sort of criminal is stunned when the police knock on their door.
The second sort believed they were simply too smart to get caught – these apparently are your traditional white collar criminals and politicians. They also believe they are insulated by their money and influence. In the case of the US banking/finance sector this has certainly been true.
To get a sense of the damage done to VW’s share price here is an updated chart. Although the fallout to date does seem mild.