Clean Stock Exchange

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Would you entrust your savings to a convict unless he was pointing a gun at your head? To a person waiting for a verdict on crimes of fraud, bankruptcy, tax fraud, usury? Anyone who buys shares needs to have a guarantee. The integrity of the people who are managing the company in which the investment is made is an economic item of data, not just a criminal item. In the world of business, reputation is everything.
The criminal record of the administrators must be visible on the request to buy shares. One can choose based on the crime. I have a bit of money on one side and I asked my brother where it was best to invest, whether in a fraudster, a usurer or in a bankrupt. He suggested the Casalesi.
On the Stock Exchange, there are about 270 companies. Each one has a CEO, a president, a director general and a Board of Directors. Consob should publish on its website the list of the convicts and those who are waiting for a verdict. The Stock Exchange must be CLEAN. Otherwise, its better to go to the gambling hall and it’s more ethical, or to entrust our family wealth to organized crime, it’s safer.
Below I’m citing a few names. They are among the Lords of the Stock Exchange. The ones who make decisions about the future of your money. The list is much longer. Parliament compared to the Stock Exchange is a centre of gentlemen.
Clean Stock Exchange. Let Draghi give himself a shake. This is the favourable moment for a law on ethics in the Stock Exchange. Let him ask for consultancy to the psycho-dwarf’s family.
- Roberto Colaninno. Sentenced to 4 years and 1 month for bankruptcy in the Italcase-Bagaglino collapse in December 2006, with prohibition on holding public office for 5 years, the penalty then condoned thanks to the Great Pardon. He is President of IMMSI and of Piaggio and is a member of the Board of Directors of Mediobanca (source: Italian version of Wikipedia entry)
- Salvatore Ligresti. Involved in Tangentopoli, arrested and convicted for kickbacks. After having negotiated 2 years and 4 months, he was under the supervision of Social services, and returned to the activity of construction, then Board member of Unicredit, Immobiliare Lombarda and Premafin Finanziaria. (source: Italian version of Wikipedia entry)
- Cesare Romiti. Sentenced to eleven months and 10 days in prison for irregularities related to the period in which he was CEO of the Fiat Group, Board member of RCS Mediagroup and Impregilo.
- Cesare Geronzi. In the trial for the collapse of Parmalat he is under investigation for aggravated usury and fraudulent bankruptcy. In the collapse of Cirio, he is under investigation for fraud in relation to the issuing and placing of Cirio ‘bonds’ through Capitalia. For the Italcase collapse convicted at the first level for bankruptcy and sentenced to one year and 8 months plus the prohibition on exercising the office of Director in any company for 2 years. He is president of Mediobanca. (source: Italian version of Wikipedia entry)
- Paolo Scaroni. In July 1992, the years of Tangentopoli, he was arrested and accused of having paid kickbacks to the PSI on behalf of Techint. In 1996 there was the trial in which Scaroni asked to negotiate the sentence: one year and 4 months, under the threshold for imprisonment. In 2006 he was on trial in the Tribunal of Adria, as CEO of Enel at the time of the events, for having allowed the Porto Tolle generating station to pollute the territory of the Po delta. After that he was sentenced to a month in prison as an indication of his guilt, but the penalty was converted into a fine of 1,140 euro. CEO of ENI, Board Member of Assicurazioni Generali. (source: Italian version of Wikipedia entry)
IMMSI, Piaggio, Mediobanca, Unicredit, Immobiliare Lombarda, Premafin Finanziaria, RCS Mediagroup, Impregilo, ENI and Assicurazioni Generali are all companies that are quoted on the Stock Exchange.

Posted by Beppe Grillo at 10:57 AM in | Comments (6) | Comments in Italian (translated) Post a comment | Sign up | Send to a friend | | GrilloNews | listen_it_it.gifListen |
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Comments

I agree that capitalists often aren't moral, especially those dealing in financial instruments, who take advantage of lax or nonexistent regulations to skim the wealth produced by real enterprises. Somebody has to throw a flag every once in a while, and that hasn't happened much in recent years, especially in the United States. The ills you describe are real, and some can be blamed on capitalism -- for example, obese people, who are an unintended consequence of cheap food. Of course, that's better than skinny people because of expensive food. I think D.H. Lawrence's "The Death of Pan," which he wrote a long time ago and that I read a long time ago, explains the source of our spiritual sicknesses. It isn't capitalism, but modernity in all its ways.

Posted by: Mike Pellegrini | October 22, 2008 02:52 AM


"And most people do live better today,...."
Methinks, perhaps, that an unbiased study of current research on this topic may convince you otherwise.
It depends on how one qualifies "better".
Materially, maybe, though this is patently untrue for the lower social/economic stratum, but in terms of happiness and personal wellbeing it is certainly untrue for a large portion of all strata of Western societies.
More mental illnesses than ever; especially those related to depressive conditions. More suicides and self harm, more eating disorders, obesity and chronic conditions attributable to lifestyle and self esteem factors, more chronic ailments directly and indirectly attributable to environmental pollution and social disfunction, etc.
Professor Fiona Stanley of Western Australia, a leading expert in pediatrics and child welfare, recently expressed the opinion that the "baby boomer" generation may be the last one that has an expected lifespan greater than the preceding one.
So it's "back to the drawing board" in matters cultural, social and fiscal in regard to pure capitalism.
The problem, of course, is not in the theoretical, but in the application of the principles. People do not generally take the welfare of their neighbours into consideration when they strive towards their personal goals. Those that do stand a real risk of predation by those with high personal ambition.
"Dog eat dog" is the reality of unfettered capitalism.

Posted by: Rolly Wheeler | October 16, 2008 07:30 AM


Capitalism is moral when it results, through fair competition, in cheaper and better goods for everyone and respect, a fair share of the wealth, for the workers, the society, which produces them. At the end of the day, everyone should be richer in a perfect capitalist world. And most people do live better today, even though capitalism is far from perfect. The problem we're facing now is financial stupidity on a grand scale, and fraud in some instances.

Posted by: Mike Pellegrini | October 16, 2008 06:14 AM


Capitalism is moral when it results, through fair competition, in cheaper and better goods for everyone and respect, a fair share of the wealth, for the workers, the society, which produces them. At the end of the day, everyone should be richer in a perfect capitalist world. And most people do live better today, even though capitalism is far from perfect. The problem we're facing now is financial stupidity on a grand scale, and fraud in some instances.

Posted by: Mike Pellegrini | October 16, 2008 06:14 AM


There's an old saying that my Grandmother often: "Neither a lender nor a borrower be."
The whole process of the 'Money Market' lacks morals and good ethics and the manipulators of the system exist entirely in a "Morality Free Zone".
This includes all who use their money simply to make more money; big and small.
The bancaposta accounts of every ordinary person is in this category as much as the huge amounts of money of wealthy individuals and corporations.
In this we are all sinners.

Posted by: Rolly Wheeler | October 16, 2008 02:38 AM


Mi hanno rubatto tuti soldi, Bastardi Cornutti!
Tutti da Wall Street sono Ladri Deficienti, Putane de li putane, Testa dei Cazzi Il mercato dei ladri! Managia!

Posted by: Giovanni Montana | October 16, 2008 01:06 AM


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