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It has only been a week since the stunning revelation that the Volkswagen group equipped millions of diesel-powered cars with software designed to fool anybody testing their emissions, and just days since the company's chief executive, Martin Winterkorn, resigned.First, whereas Enron's fraud wiped out the life savings of thousands, Volkswagen's has endangered the health of millions.Second, led by Volkswagen, Europe's car manufacturers lobbied hard for governments to promote the adoption of diesel engines as a way to reduce carbon emissions. This is a truly global fraud and global scandal.Volkswagen could get wiped out even though the company is financially healthy.And whereas Enron was a young, though admittedly admired company, Volkswagen is the 78-year-old centrepiece of Germany's most important industry.It was fairly easy for most US companies to distance themselves from Enron's fraud.
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