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Italy Police Busts Fitch Milan Office

By: capt_nemo in ROUND | Recommend this post (0)
Tue, 24 Jan 12 6:57 PM | 43 view(s)
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Submitted by Tyler Durden on 01/24/2012 09:47 -0500

Egan-Jones
Egan-Jones
Fitch
Insider Trading
Italy
Market Manipulation
Rating Agency
ratings
Reuters

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

http://www.zerohedge.com/news/italy-police-busts-fitch-milan-office?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29




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Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.




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