Banks failed because they took the wrong side of an insurance bet that
paid off 100 to 1.
On 8/26/17 11:58 AM, Adam Moffett wrote:
Iceland put 8 or 9 bankers in jail for that exact situation.
It's not clear to me why the bailout here happened the way it did. It
seems like if the banks failed due to lending money that had no chance
of being paid back, why did the bailout require more money than the
value of all the loans? I'm not well informed on the topic, but the
things I heard never added up to a clear picture.
------ Original Message ------
From: "Sean Heskett" <[email protected] <mailto:[email protected]>>
To: [email protected] <mailto:[email protected]>
Sent: 8/26/2017 2:31:13 PM
Subject: Re: [AFMUG] OT Volkswagen engineer
And yet somehow all the bankers who engineered the collapse of the
world economy never went to jail but this guy does?!?!
Crazy world...
Engineer environmental destruction = bad
Engineer economic destruction = meh
I agree with chuck too, he designed an engine to pass a test. Seems
like the test was flawed, not the solution. It was an engineering
team from a university that discovered the problem because they
actually tested the emissions from the tail pipe under real world
driving conditions.
-sean
On Sat, Aug 26, 2017 at 10:04 AM <[email protected]
<mailto:[email protected]>> wrote:
So one of the engineers at VW got a 40 month sentence for the
emissions fiasco.
I have to admire the clever way of getting around the test. I
have a hard time thinking of the guy as a criminal. He looked at
the test protocol and created an engine that would pass the test.
Blame the protocol creators for not making a good enough test.
