Volkswagen (VW) is itself the world’s third-largest auto maker after General Motors and Toyota.

Wow, I had no idea. Yeah, Jetta!

On paper, Porsche made between €30-40 billion in the affair. Once all is said and done, the actual profit is closer to some €6-12 billion. To put those numbers in perspective, Porsche’s revenue for the whole year of 2006 was a bit over €7 billion.

Porsche’s move took three years of careful maneuvering. It was darkly brilliant, a wealth transfer ingeniously conceived like few we’ve ever seen. Betting the right way, Porsche roiled the financial markets and took the hedge funds for a fortune.

Betting the wrong way, Adolf Merckle took his life.

Capitalism 1, Ethics(?) 0

-janelane

RE: How Porsche hacked the financial system and made a killing