What is there that is less democratic and obscure than a bank? I’ve thought about this for a long time, but I’ve found nothing. In recent days, there’s been a discussion about presumed kickbacks in relation to the reconversion of former industrial areas in Sesto San Giovanni and the involvement of the PDminusL person, Penati, who was mayor at the time. Basically there are investigations about a circle of bribes to increase the value of the land formerly occupied by Stalingrado d'Italia with the idea of constructing buildings on the land. The usual story that has already been seen in Santa Giulia and in dozens of other similar operations. Destruction of the territory, contiguity between construction companies and politicians, and environment devastated for generations. The apex of the triangle, the banks, however, almost come out of it clean, and often they are not even cited. Sesto San Giovanni docet.
"Banco Intesa takes action on Sesto. Detailed negotiations for new offices with 5-6 thousand office workers in an area of the former Marelli. The official agreement has not yet been reached, but it’s certain that the negotiations are moving ahead fast and the signature on the sales document could be really soon.” (Corriere della Sera 26/1/2001). In response Penati said: “If the hypothesis of an agreement is formalised, Banca Intesa will be welcome. The regulations in our regulatory system make it possible for the establishment of high-tech service industry on the areas that are no longer used.” Intesa decided not to go ahead, but it was still present. Pasini, the adventurous owner of the Falck area who declared that he had handed out bribes destined for Penati, at a certain point, sold everything to Risanamento di Zunino, who bought the area thanks to a team of banks led by Banca Intesa.
At that time, Risanamento was a group that was a rising star, the owner of the area of Santa Giulia in Milan, a massive residential neighbourhood used to bury every type of carcinogenic refuse but it finished up under sequestration. However, Risanamento mysteriously always had the trust of the banks and thanks to them it avoided bankruptcy. The same banks that refuse to give an overdraft or a loan to a small company were creditors of a company with debts of THREE billion. Which banks? Unicredit, MPS, Banco Popolare and, naturally, Banca Intesa, that is now IntesaSanpaolo.
Penati is also in the eye of the cyclone for the purchase of 15% of the Milano – Serravalle (for an inflated sum) from the entrepreneur Marcellino Gavio. Penati, president of the Province of Milan, asked for and received a loan of 250 million. From whom? From IntesaSanpaolo who obviously didn’t verify the coherency of the investment. According to Albertini, the former mayor of Milan, Gavio raked in a net profit of 179 million. IntesaSanpaolo was also a partner in the disastrous Alitalia affair (disastrous for the coffers of the State) saved to be then gifted to Air France, but also in Telecom Italia with shares bought at 2.2 euro when anyone with a tiny bit of knowledge of the sector and of Telecom would have paid half that. In fact, IntesaSanpaolo is now obliged to devalue investment with the Telecom share decidedly below one euro (today at 0.888) with a loss of 120 million euro. The ownership and money of the banks doesn’t belong to the banks, but to the current account holders and the shareholders.
It cannot be used “ad minchiam" {frivolously} for lobbies or adventurous speculation. The “fiato sul collo” {breathing down your neck} approach adopted for the towns has to be replicated for the banks that are pulling the strings of the marionettes of politics in the shareholders’ meetings and in every possible occasion. They will never give up (but is it in their interests?). Neither will we.