The Great Flight
The banks and the regulatory authorities are the main ones responsible for the financial catastrophe. In the last few years, Where have the Bank of Italy, Consob, ABI, the Ministers of the Treasury been? People like Tremorti and Padoa Schioppa? Like Fazio and Draghi? Like Geronzi, Passera, and Profumo? The mayors who have invested the taxes of the citizens in derivatives? The financial analysts? The economic journalists? People like Cardia and Capuano? The rubbish shares, the futures without a future, the subprime sub-primes, the CDOs, the holes in the balance sheets, the banking liabilities without guarantees. Either these gentlemen knew everything and thus are criminals and should be prosecuted, or they are incompetents and should be sacked as soon as possible.
Renewal has to start with the pinnacle of finance. To get rid of the politicians and leave the bankers in place is of no use. The next time round, the ones who have control of the financial system will elect other figureheads, who are willing servants or are business partners.
To save the country that has been destroyed by the banks they are lending money to the banks without getting rid of those responsible. It’s an upside down world. They are using public money, the fruit of the taxes of the families to reward those who ravished the savings of the citizens. Without even asking for renewal, with Passera and Geronzi still in post with salaries of millions of Euros. Instead of taking a step back, they have taken two steps forward. The ones who are responsible are rewarded. Often the citizens have lost everything. If you are starving and you steal ham from a supermarket, they arrest you. If you throw millions of families into poverty you become President of Mediobanca
A collective clearing away is taking place
The banks control the newspapers, they are present in the Boards of Directors of the publishing groups. The financial tsunami is described as a supernatural event, something inevitable, something cosmic. The top brass in the banks are the victims of the situation not the ones responsible for it. In recent years, how much have the bankers gained in stock options thanks to the toxic shares? After the crisis, by how much have their salaries gone down? I think that it’s necessary to have a public discussion with data, names, position, illegal gains of those who have been at the top of the financial institutions and their journalist accomplices. Meanwhile, not a single Euro from the State to the banks.
Posted by Beppe Grillo at 08:54 PM in Economics
(28) | Comments in Italian (translated)
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