Monte Paschi ignored warnings over risk, documents show

Comments (1)
breezinthru wrote:

So they have whales in Italy, too?

This bank must be allowed to fail. All banks that get into financial trouble MUST be allowed to fail.

What concerns me is that not nearly enough has changed regarding the relationship between representative governments and the citizens who are represented by those governments and the financial industry, particularly in America.

The much-needed regulation and well-intended response to the banking fiasco of late 2007 was staunchly opposed by the financial industry and the much ballyhooed final product was further gutted by the financial industry as the details and rules were being crafted.

The financial industry is far too powerful for its own good and unquestionably too powerful for the good of the societies it is supposed to serve, an international den of vipers.

Jan 29, 2013 9:39pm EST  --  Report as abuse
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