Italian prosecutors have seized documents at the offices of rating agencies Moody's and Standard & Poor's in a probe over suspected "anomalous" fluctuations in Italian share prices, a prosecutor said on Thursday, reports Reuters.
Even without ratings agencies, everyone knows Italian debt is junk. But, it is a lesson in how out of control governments can get. If anything, agencies have been slow in downgrading government debt.
I suspect the U.S. is having "talks" with rating agencies. It's done more subtly than in Italy, but results in the samw kind of intimidation.
Italy is mostly a nation of infantile/emotion-driven psychopaths. Their political Mafia is just a reflection of this. Between Italy and Spain should be the end of the Euro...Unless the Germans want to pay for them to goof off as well.
ReplyDeleteI think the Germans will give PIIGS the finger the next time they coming begging for cash. Unfortunately, they will go down with the Euro too. BTW have ya seen the DJIA today? Woohoo ride it all the way down folks. I'm guessing below 11K today or tomorrow at the latest.
ReplyDeleteMobs rules. But is'nt this the way of the world?
ReplyDelete6 billion primitive monkeys on earth who vote for political terrorists...We are all screwed.
ReplyDelete