Replies

1 posted on 10/14/2011 8:38:21 AM PDT by SeekAndFind

Italians claim country run by Goldman Sachs

Italians grumble that Goldman Sachs runs their country, much as the Jesuits ran countries during the Counter-Reformation.

Premier Romano Prodi is an ex-Goldman Sachs man, as is central bank president Mario Draghi and the deputy treasury chief Massimo Tononi.

The price paid for having so many friends at court is that the elite bank inevitably becomes entangled in the financial scandals that so often swirl around the Italian political class.

For the past month, Goldman Sachs has been dragged into a widening corruption probe into the Siemens-Italtel merger dating back to the mid-1990s.

The inquiry has moved uncomfortably close to Mr Prodi, who was on the Goldman Sachs payroll from 1990 to 1993 and again in 1997 after his first stint as prime minister.

Politicians from the Forza Italia party have jumped on suggestions that Goldman Sachs may be involved, making damning allegations in the Chamber of Deputies under parliamentary immunity.

The inquiry is just one of several probes across Europe into a €400m (£273m) network of black accounts used by Siemens to grease deals.

Prosecutors in Bolzano, Northern Italy, claim to have unearthed a Siemens payment of DM10m (£3.2m) to a Goldman Sachs account in Frankfurt in July 1997. From there it ricocheted around the world, going to London and Tokyo before returning to Germany in yen - according to Italy’s financial newspaper Il Sole.

A Goldman Sachs employee summoned for questioning earlier this month said the DM10m payment had been made for an unknown third party.

Italian Treasury Police raided the Milan office of Goldman Sachs in February, where they removed a file called “MTononi/memo-Prodi 02.doc”, among other papers.

They have also obtained a letter to Siemens from the Frankfurt office of Goldman Sachs in 1993 pitching for business on the Italtel deal.

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2 posted on 10/14/2011 8:43:09 AM PDT by SeekAndFind (u)

The EU has more regulations than we do.

The desire of the flea baggers is 100% complete central planning-Communism.

3 posted on 10/14/2011 8:45:32 AM PDT by NoLibZone (Democrats are violent. Prisons are overflowing with democrats convicted of violent crimes.)

Goldman is certainly run by a no-good bunch of bastards. It’s kind of fun to watch the robberbarons battle it out with the tyranny-loving communists. Hopefully, they will destroy each other and America can get back to having an honest economy based on real commerce istead of a phony economy of underhanded gimmicks.

4 posted on 10/14/2011 9:04:27 AM PDT by Dr. Thorne (Fall on your knees before Christ, your only salvation!)

"While hardly the explanation for why the EURUSD has surged nearly 100 pips in the past 45 minutes on absolutely no news"

You didn't hear about the statements from the Fed on more qe when necessary?

And Greece was already relieved of 21% of its debt in a deal with investors. Now, they're talking about making that 50%. Yes. your fund managers omitted that.

Oh, and Iran, N. Korea, oil. Have fun.

The more interesting stuff is yet to come. For one, slaughter beef is still around $1.23 or so a pound. Demand is growing overseas from those who work the jobs that you won't work and can't work (unskilled, retarded Americans, we are). Watch out in the near future.

6 posted on 10/14/2011 10:46:29 AM PDT by familyop ("Wanna cigarette? You're never too young to start." --Deacon, "Waterworld")

BTW, Grease was forgiven 21% of its debt in July.

7 posted on 10/14/2011 10:50:30 AM PDT by familyop ("Wanna cigarette? You're never too young to start." --Deacon, "Waterworld")

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