Howard's Business Report-9/24/15: Volkswagen, drug price, mortga - Hawaii News Now - KGMB and KHNL

Howard's Business Report-9/24/15: Volkswagen, drug price, mortgage scandal, Wall Street

HONOLULU (HawaiiNewsNow) -

It's time for crisis at a glance!

Someone at Volkswagen-- maybe several someones-- thought it was okay to sell thousands of cars loaded with computer software that deliberately gave false emissions ratings.

A hedge fund punk buys a drug company and jacks up the price of a vital medicine 5,000% and gives interviews in which he grins and expects the rest of us to understand.

This has been going on for a while-- The country-wide financial mortgage scandal 8 years ago involved hundreds of agents who thought it was okay to sell mortgages to people who couldn't afford  them. Then Wall Street sales people packaged those doomed mortgages and resold them as risky investments, but they told the buyers they weren't risky. Wall Street firms also made trades for their customer while making the opposite trades for  themselves. 

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