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browsing tag: banking

December 14th 2005. Fiorani smiles, do you smile with him? >

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Banker Giampiero Fiorani intensely smiles at the camera while he is taken into custody.
What that smiles means, is obvious to anyone who knows how to read such a situation. The smile means: if I go down, you all go down with me.

Who 'you all' can be, we leave it to the readers' imagination.

Let's say he's not smiling to his own Bank's small unaware customers, whose savings were allegedly used to bribe a wide range of italian politicians. Who in turn illicitly protected the bank from the acquiring bids of the Dutch bank ABN AMRO.

Here the new story begins: qui comincia la novella storia. Where - obviously - nothing is new.

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November 18th 2005. Citizens against Bank of Italy, 1-0 >

I hate to talk about money, and I prefer not to fixate myself on Banks, because when something is so demonic and powerful, you just have to look the other way.
Nonetheless, this well-informed Italian blog about seignorage, among all the specs on this awful robbery the banks perpetrate on the unaware citizen (and on the aware citizen too), gives this apparently good news: the madmen, who started to fight against the power of banks in Italy, won their first battle.

The revenue from seignorage perceived by the Bank of Italy is undue and has to be returned to the citizens. (...) It is about 5 billions of euros, € 87 for any Italian citizen, clarifies [the association of banking users] Adusbef, who backed the lawsuit in front of the judge of Lecce. More lawsuits are ongoing around Italy.

Unfortunately the whole article is in italian. But a quick search in Google can at least give you all the informations you want to know about seignorage, just in case you don't know what I'm talking about.
I warn you though, it's all pretty scary.



August 5th 2005. sunkitalia >

I got asked why I am not talking at all of the Bankitalia scandal which is the talk of the town these days all over italian newspapers and televisions. The answer is: because it's boring, and depressing. But if you want to know about it, please visit the economist. They're always chasing onto Italy misleadings and public vices. They don't get depressed about it.


browsing tag: banking
 
 
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