Tag Archives: Italian Crisis : Monti Moves Swiftly To Put Digit In Derivatives Dyke…

John Ward – Italian Crisis : Monti Moves Swiftly To Put Digit In Derivatives Dyke… – 16 March 2012

Mario Monti explains the finger/dyke-hole thing

….but the bankers will simply never learn.

Seven weeks ago, Morgan Stanley casually but smugly issued a release saying the banking firm had ‘divested itself of $3.4bn of Italian debt’. This was an incredibly modest and self-effacing thing for MS to do: what actually happened was that Goldman Sachs implant Prime Minister Mario Monti personally negotiated with the Wall Street outfit for the chance pay them off upfront out of the public purse. Continue reading

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