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Italy Police Busts Fitch Milan Office
The USS Europa Discorida story just gets more and more surreal.
- ITALY PROSECUTORS WIDEN RATINGS AGENCY PROBE TO FITCH, UNDER INVESTIGATION FOR MARKET ABUSE, INSIDER TRADING - INVESTIGATIVE SOURCE
- ITALY FINANCE POLICE SEARCHING FITCH OFFICE IN MILAN, ANSA SAYS
S&P maybe? Sure. But piss off the French rating agency? As if anyone even trades in collusion with the completely unmoving announcements by the most irrelevant of the NRSROs? This is just the definition of irrational Italian scapegoating which will do nothing to help Italy-French relations, but at least it will provide "justification" for Fitch's evil downgrade when it comes - after all it was obviously in retaliation for the Italian police just doing its job. Finally, how long would an Egan-Jones office in Milan stand before it was burned to the ground: 1 week? 1 day? 1 hour?
More from Reuters
The Italian tax police was in the offices of ratings agency Fitch in Milan on Tuesday to carry out checks ordered by prosecutors investigating rival agencies Standard & Poor's and Moody's, a senior prosecutor told Reuters.
"Men from the financial police are at Fitch in Milan," said Carlo Maria Capristo, chief prosecutor in Trani.
The Trani prosecutors are investigating possible crimes of market manipulation and illicit use of privileged information when Standard & Poor's downgraded Italy earlier this month.
As part of the same probe, they are also investigating the impact reports by Standard & Poor's and Moody's on Italy and its banking system had on markets and whether any crimes were committed.
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Fitch/mafia, in Italy they are the same thing.
I’m glad to see that world leaders are finally cracking down on rouge rating agencies. This consistent pessimism is immensely damaging to confidence in the global economy, and is a serious risk to the balance sheets of some of the world’s largest financial institutions. Trouble makers like Fitch and S&P need to learn that top tier investment banks and peripheral Euro states are simply TOO BIG TO FAIL.
Your constant banality is immensely damaging to my confidence that humans are intellectually superior to monkeys.
You just need to remember that MDB ALWAYS forgets his /sarc tag. Then you see the genius.
Thanks. I was trying to figure that out.
It's ON now, bitchez
Fitch should downgrade Italy to junk.
That is the truth, afterall...
nvm
Hey Moose! Rocco! Help Fitch find their checkbook, will ya?
That's a nice little rating agency you've got there. Shame if something happened to it.
"Dimsdale", called Spiny Norman.
Just f'in AWESOME!!!
MDB - the voice of reason in a universe of hysteria.
Wonderful !
You too can be just like Jon Corzine.
They'll be done as soon as they finish turning them upside down & shaking all the loose change out of their pockets...
Act shocked OK?
I know it's getting old but: the French surrendered immediately.
That never gets old.
That's what happens when you betray the family.
Exactly, it is the Italian govt that is mafia-esque on this one.
The Amanda Knox case will tell you everything about how the Italian police "investigate"
Seems rating agencies are being reminded: "don't ever take sides against the family, ever again".
An even better raid would be one centred on politician's and banker's homes and offices.
Make them a freedom bond offer they can't refuse
trani prosecutor? They are going after trani's too?
Poor trannies!
the battle lines are being drawn. this war will not be fought in Europe however. this war is ALREADY being fought in the Middle East. Ramp up is IMMINENT.
"Financial police"...? Ahh, Italy. I wonder if their uniforms are designed by Gucci, and I bet they show up to the crime scene in 2-seater, tricked-out, police-package Lambos.
prob not chanel unis, huh?
i picture them with vespas, waiting @ cafes for a call
then they hafta rush over to the crime scene and collar the ratings perps, but... the griswalds are in town, on vacation! oh! the humanity!
...and you're right!
http://www.omniauto.it/awpImages/photogallery/2008/8181/photos1280/la-nu...
http://www.omniauto.it/foto/gallery/8181/la-nuova-lamborghini-gallardo-l...
unfortunately that is not "guardia di finanza" (GDF), that's general police. finanzieri are the ones with a grey uniform.
http://en.wikipedia.org/wiki/Guardia_di_Finanza
They should bust JPM and GS too.
yeah, bust GS for not setting up the off balance sheet debt swaps they put on for greece... "Blankfein, I am disappointed. I thought we were friends..."
Rats in a sack...
"Men from the financial police"
When I think about that phrase as well as the fact that the Department of Education has armed enforcement personnel and an armory and I can't help but ponder the words of the Second Amendment to the Constitution and the phrase "When in the course of human events..." in the Declaration.
The Italians once again poke the French in the eye.
maybe it has to do with Libyan slush money; both countries up to their necks in Q-daffy fund inheritence, oil lobby shenanigans. Fitch is a notational, inquisitorial? arm, belonging to a corporate French Oligarch, probably a friend of the Uber alles clique of Elysee palace.
What would latin pride be without a leeetle bit of passion play! Besides there is still one good eye left for S&P .
http://www.deutsche-mittelstands-nachrichten.de/2012/01/36841/
Italienische Steuerfahnder statteten am Dienstag der US-Ratingagentur Fitch einen Besuch in Form einer Razzia ab. Wie jetzt bekannt wurde, ermitteln die Behörden nämlich gegen die Agenturen Standard & Poor’s und Moody’s wegen des Verdachts des Insiderhandels und der Marktmanipulation im Zuge des Downgrade von Italien zu Beginn dieses Jahres.
it's more Italy <---> USA
for them Fitch is more an american agency than a french, S&P and Moody's had a visit already at the beginning of tis year.
what are these lions for?
Some people just can't stand hearing the truth. *fingers in ears LA LA LA*
Fitch, more than Mdy or S&P, lives by the Luca Brasi code of ratings: Pay or Die.
Italy (USA) goes after Fitch (Megaupload), same-old, same-old.
Says it all.
http://www.youtube.com/watch?v=FcFlp6kl508
Just another demonstration of how corruption blooms in all shadows of a situation where there is centralized power and control. That's the real crime here; people believing that won't happen.
The Italian mafia rules. And you ain't gonna screw them.
An Italy-France war would be quite something... who would surrender first? Who would be the worst soldiers? It would be quite a sight.
One would have to think the motivation would be on the side of the Italians.
They were the worst motivated soldiers of WW2... even worse than the French. So I don't think so.
It would be the best-catered war of all time!
Cuisine to die for!
Kill´em all.
They can't... because?
when they kick out your front door
how you gonna come?
with your hands on your head
or on the trigger of your gun?
I <3 watching the Movers and Shakers eat each other.
It's sunny and mild out here in the woods today, the birds think it's spring.
Oh, that deserves an instant downgrade of Italian debt.
Hang'em and keep them hanging. For days... Just like you did with Mussolini...
USS Europa Discordia ;-)
So the country that invented Fascism never really got rid of it?
Maybe the financial police just wanted a second opinion. Ok, Italian bonds stink AND they didn't invent spaghetti. OR pizza. There, now they have a third opinion.
http://thedailyclimb.wordpress.com/2012/01/24/the-daily-climb-new-beginn...
What an oxymoron, when rating agencies act in favor of TPTB they are exercising their "journalistic opinions/rights to free speech". When they downgrade in conflict with TPTB's interests, they get the "financial police" sicked on them. What a sad state of hypocrisy ths world has decomposed into. Can't say I'm exactly surprised. This falls right in line with alot of headlines that curiously don't get a single word in the MSM. Hmmm? wonder why not?
Fascism is contagious.
LMFAO, Goldman Sachs' International Advisor Mario Monti can't stop them.
Well, so fascism returns to Italy a half century after the last time! Is it any surprise, given that Mario Monti, the technocrat elitist, has taken control of the country on behalf of the oligarchy? This is only the beginning of the turn the world has taken toward tyranny!
The last time Italy had a dictator, he referred to his friend in the White House as "America's Dictator". Now we have a man in the White House who considers America's LAST dictator as his model and hero. America, too, has a new dictator. His name is Emperor Obama! Amazing how history repeats itself!
These are frightening times for freedom! Tyranny is HERE!
Well, I guess somebody bothered to read that Financial Crisis Inquiry Commission report!
And understood the section on Clayton Holdins and Ms. Vicki Beal?
Hmmmmm.....much more superior to Italian cruise ship captains!
Do you reckon this is pushback from Goldman Sachs/Monti for the rating agencies' somewhat more realistic ratings in response to the nearly universal assumption that they work in collusion with the entities being rated and the central banks??