Italy probing rating agencies

[xchrom]

http://hosted.ap.org/dynamic/stories/E/EU_ITALY_FINANCIAL_CRISIS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2011-08-04-14-41-30

ROME (AP) -- Italian prosecutors are investigating two leading credit rating agencies after consumer groups complained about turbulence on financial markets, officials said Thursday.

Recent reports and rating decisions issued by Moody's and Standard & Poors were tantamount to "failing" Italy even before the government could complete austerity moves meant to boost the nation's reputation in the markets "and while the markets were open," prosecutor Carlo Maria Capristo told Italian broadcaster Sky TG24 TV.

Investigators seized documents in offices of both firms, prosecutors said during a televised news conference.

The probe began months ago, spurred by contentions from Italian consumer groups that unjustifiably pessimistic rating reports were causing Italian stocks to tank. Prosecutors must begin a probe after such complaints.

[kenny blankenship]

1. Complain about Berlusconi- but SOMEONE has to put the fear of God into banksters & CRA henchmen

There is an attack going on against the simple EXISTENCE of national governments, (their existence as democratic institutions with a role beyond acting merely as rent-collecting muscle for corporations).

Without our governments we will be at the mercy of banksters and corporate thugs in a new age of feudalism. It may be the Libertarian's Paradise, but I guarantee the 99% will not feel in the least bit free.

[xchrom]

2. +1