German economist attacks US Justice System over VW
German economist tries to defend VW cheats with bizarre attack of US justice system
September 25, 2015
German economist Hans Werner Sinn has argued that the prosecution of VW over its emissions deception by US justice officials is unfair because Europe has not prosecuted US financial actors responsible for the vast losses they caused.
Is he right? Surely, the answer is not for the US justice system to lower its standards and allow VW to deceive customers. The answer is for Europe to raise its standards, change its laws, and start pursuing criminal and civil charges against the bankers and hedge fund managers who caused the financial crisis.
The US justice department has a track record of tackling corporate abuse. It has finedsuper corporations such as BP and Glaxo Smith Kline and launched a criminal probe into Deutsche Bank.
The supine European justice system has no such record. It doesn’t matter how gigantic the crimes of corporations are, they can walk all over Europeans.
Corporations like GlaxoSmithKline can give millions of people in Europe an untested dangerous pandemic swine flu vaccine, causing narcolepsy, the German government can even admit it, and still nothing happens to them.
If German officials like Sinn are piqued to find the US justice officials won’t go along with a tacit arrangement of “you scratch my back, I’ll scratch yours”, they have no one to blame but themselves.
Europe, specifically Germany, has failed to pursuedthe corporations and banks and other corporations destroying it because the Europeans not for any noble motive but because they are comfortable with corruption. It is a credit to the US justice system that it is not.