The VW Scandal Is Looking Overblown
At the beginning of the Volkswagen emissions scandal, it even seemed for a few panicky moments as if the company might go under. Estimates of the potential cost to the carmaker were in the tens of billions. The markets are beginning to realize that the damage was overestimated; the company will probably pull through without major bloodletting. That's a big positive, but it comes with a big negative.
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