Quote:
Originally Posted by Todd in Vancouver
Breath deep and it'll all be OK.
BTW, Toyota was fined over $1 Billion, but it doesn't seem to be in a lot of headlines.
|
actually, I believe it was 1.2 billion. the fine was so high because they determined that Toyota was trying to cover up the acceleration problem and avoid liability. that's essentially whats going on with GM. The fact that they may have knew about it and not disclosed it at the time of their bankruptcy proceedings will most likely result in criminal charges against GM. in all likelihood, GM will receive a fine possibly as large, likely larger, than Toyota did.
the reason the issue of disclosure is so big is because according to bankruptcy law, a company can not be held liable for anything that happened prior to the filing.
this case isn't really about a recall, that's fairly minor. what it's really about is how GM handled and disclosed the problem. if it can be proven that GM knew about the problem prior to 2009 but kept quite because they knew the bankruptcy would shield them from liability..................then GM will be in big doo-doo