Catricalà is always the last to know

la_mappa_del_potere.jpg
The Mapping of Power
Click on the image


Antonio Catricalà, the Head of the Competition and Market Supervisory Body has discovered something new. He has discovered that the Italian Stock Exchange is an orgy of conflict of interests in which the investor always plays the passive part. Directors on the Boards are present in 6/7/8 Boards, even for companies that are competing with each other. And they are always the same people. The control of the companies is done with Chinese boxes. Just 0.11% was enough for the unhappy Tronchetti to control Telecom Italia.
After a “finding out investigation”, Catricalà has discovered what is known even to the clandestines who have just disembarked at Lampedusa.
80% of the Italian finance groups have intertwined connections in the way of personnel and shares. They have staff working for one company who are also working for a competitor. For Catricalà, the solution is “heightened attention to corporate governance”. The solution is quite different. Close the Supervisory Body that costs a mountain of money to the Italian people and close down the Italian Stock Exchange. Let the Italian companies transfer to any European Stock Exchange where there are real controls. In Spain, and in the Netherlands, the conflict of interests does not exist and in Paris it relates only to 26.7%. With 80% our Stock Exchange is in the process of decomposition, a place to be avoided if you want to look after your own savings. If the anomaly of the Stock Exchange is sorted out, then that of politics is also resolved. The politicians are the chambermaids of the economic powers. If you want to really come to an understanding of what is happening on the Stock Exchange, use the "Mapping of Power. Type in the name of the company or the name of the Director and then start shivering. It would be better to entrust your investments to the Casalesi than to this lot. The current "Mapping of Power shows the intertwining between the Directors of the different companies. In the future it will be brought up to date with 2009 data and it will also show the share ownership and the Supervisors present on the Boards of Directors.
I’m not doing this for you, but for Catricalà, to help him move on with his work. To give him a hand, I will also go to Brussels to explain to Europe what the Italian Stock Exchange is. They won’t believe me, but I’ll try. They will never give up (but is it in their interests?). Neither will we.

PS: If you discover some conflict of interest, send an email to Catricalà.

Previous posts:
Power Mapping - 26 March 2007
Stock Exchange Orgy - 22 September 2006

Posted by Beppe Grillo at 06:23 PM in | Comments (3)
Post a comment | Sign up | Send to a friend | | GrilloNews |
View blog opinions



Comments

That's right. This incestous financial situation is global. The financial side of the Bush administration is made up by the same people that at one time or another directed many of the American banks that crashed. One name that readily comes to mind is Paulson. He is the guy that went on TV and told the nation that banks had to be bail out if an impending economic catastrophe was to be avoided. Who did he bail out? He bailed out ex-collegues and buddies responsible for the financial collapse. Did the bail out work? No. In fact, the economic crisis has gotten worse and is getting worse. And what happened to the $350 billions given to the banks? Nobody knows The banks aren't telling and they want more money. All the States are at their disposal and the politicians have become the new courtiers always ready to satisfy the wishes of banks, corporations and organized crime. Somebody called this economic intertwining, financial collusions and conflict of intrests, "the global incestous economy" thus, "the global economic crisis."

Posted by: louis pacella | January 12, 2009 11:16 PM


That's right. This incestous financial situation is global. The financial side of the Bush administration is made up by the same people that at one time or another directed many of the American banks that crashed. One name that readily comes to mind is Paulson. He is the guy that went on TV and told the nation that banks had to bail out if an impending economic catastrophe was to be avoided. Who did he bail out? He bailed out ex-collegues and buddies responsible for the financial collapse. Did the bail out work? No. In fact, the economic crisis has gotten worse and is getting worse. And what happened to the $350 billions given to the banks? Nobody knows The banks aren't telling and they want more money. The State is at their disposal and the politicians have become the new courtiers always ready to satisfy the wishes of banks and corporations and organized crime. Somebody called this economic intertwining, financial collusions and conflict of intrests, "the global incestous economy."

Posted by: louis pacella | January 12, 2009 11:11 PM


It is the same everywhere. How do you think boardroom directors are awarded such huge salaries, bonuses and severance pay outs? The remuneration committees and non executive directors all come from the same elite schools and private clubs and lodges. The directors of company A are on the committee of companies B & C etc. They help each other. This way they keep power and the privileges that sustain their lifestyle to the detriment of ordinary employees who are the first to be discarded during a crisis.

Posted by: peterfieldman | January 12, 2009 01:04 PM


Post a comment


Beppe Grillo's Blog is an open space for you to use so that we can come face to face directly. As your comment is published immediately, there's no time for filters to check it out. Thus the Blog's usefulness depends on your cooperation and it makes you the only ones responsible for the content and the resulting outcomes.

Information to be read before using Beppe Grillo's Blog

The following are not allowed:
1. messages without the email address of the sender
2. anonymous messages
3. advertising messages
4. messages containing offensive language
5. messages containing obscene language
6. messages with racist or sexist content
7. messages with content that constitutes a violation of Italian Law (incitement to commit a crime, to violence, libel etc.)

However, the owner of the Blog can delete messages at any moment and for any reason.
The owner of the Blog cannot be held responsible for any messages that may damage the rights of third parties Maximum comment length is 2,000 characters.
If you have any doubts read "How to use the blog".

Post a comment (English please!)


First name and Surname*:

Email Address*:
We remind you that anonymous messages (without real first name and surname) will be cancelled.
URL:


* Compulsory fields



Send to a friend

Send this message to *


Your Email Address *


Message (optional)


* Compulsory fields