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Wednesday, June 6, 2007

Italian Political distorsion

Hi all,
I feel compelled to write tonight to give you, potential or casual readers, an insight on the dark and blurred Italian Political situation.

A vice-minister is questioned to have put pressure for changes of Financial Police top officers onto whom he has a govenamental mandate. Those who were supposed to be changed were investigating on apparent strange money transfers around the failed LBO of Unipol on to the Banca Nazionale del Lavoro. Unipol was and his an Insurance Company directly linked with the vice-minister Party, the former Communist Party.

What would the be the natural outcome of a healthy and constructive government? Ask the vice-minister to resign for the "rumors" to stop and for the investigation to clear his position!

What happens, though? The Finance Minister, to whom the vice-minister reports to, described, at a public hearing in front of the Senate, the General who heads the Financial Police and has refused to fire those officers as an indipendent and separative character, who was leading the Corp to almost a putsch. Consequently, the General was asked to leave his assignment for a better paid position even higher in Hierachy!!!!

Well, it is typical that a potential putsch leader is promoted by the ruling class whom he is going to attack!!!!!!

By the way, the failed LBO left Unipol with a large amount of BNL stock but without cash to pay for it. Consequently the heads of Unipol were fired (with a large large check: 50 Million Euro each!!!!) and in six days a French Bank (BNP Paribas) gained the control of BNL.

That happened just before the political campaign that lead to the Center Left coalition to win the elections by a mere 0,06% margin....strangely enough all the French media and the French politicians (even those who lately strongly supported Mr. Sarkozy, the rightist candidate, during the latest presidencial campaign) were supporting the Center-Left coalition.....

This year the CEO of BNP Paribas earned the French Prize for the best Financial Operation in 2006.....and the growth of BNP for 2006 and the first part of 2007 is coming only from the Italian operations....

All these facts are definitively worth a Financial Investigation....


Why, then, the Head of the Financial Police who refuses to fire officers active on such Investigation, is publicly addressed as the head of a putsch and is fired from his position, granting him a raise????

What would have happened if Mr. Berlusconi would have acted similarly on ongoing investigations over one of his companies? What would the International Press have said? How Financial and Economical Magazines would have written about it?

Where are, today, those valid and brilliant journalists and reporters? Why such a screaming silence is now covering the Italian situation?

Waiting for your comments

Joe

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