Consob, the war of armchairs for the presidency

The candidates, the internal struggles and the pressures of the parliamentarian of the 5 Star Movement, Carla Ruocco who pushes her boyfriend Minenna.

But the 5 Stars were not the proponents of change, who denounced recommendations and favoritism of the Democratic Party, those who shouted Honestà, Honestà, where are you?

And what does Mattarella do?

Check the name of Enea Franza, out of parties and lobbies, welcome to the President of the Republic

Consob: what happens during these hours is very important for the fate of Consob.

The governing parties, in particular the number two of the Carroccio, Giorgetti, current undersecretary of the presidency, (who has refused the Ministry of Economy to keep his leader Salvini in the shadows), want to place a man of confidence in the presidency of the Authority supervision of financial markets.

On the front grillino moves like a madman, Carla Ruocco, who tweets and meetings, some very reserved to the Chamber where she is president of the Finance Committee, pushes the candidacy of Marcello Minenna, her boyfriend and head of the Quantitative Analysis Office and Financial Innovation.

Minenna was also Councilor for the Budget of the Municipality of Rome of the Giunta Raggi.

To support Minenna, also Elio Lannutti, senator grillino.

Lannutti, former of the party of the PM of Mani Pulite, Di Pietro, current president of Adusbef, a great flogger of the banks and insurance companies, but above all of the Bank of Italy, compared to the mafias,

today denying himself, says Minenna.

In the past he called it a recommended, in short, a sort of reprobate, a character of the old system that the Movement fought and abhorred.

Today, however, the trend has been in vogue for some years now, the M5S enlists in its ranks, for lack of a ruling class capable just the unpresentable, or rather those who were once defined as such.

The genetic mutation of the Movement is now a reality.
Better a corrupt but capable, than an honest but incapable, is the current mantra of the Movement.

How much water has passed under the bridges … originally founded his philosophy in the fight against corruption, recommendations, prejudices in politics and in essential values ​​such as transparency, legality, merit and discontinuity from the management of the policy of the old system.

 But why the internal structure of Consob would have many reservations on Minenna?

Simple, Lannutti was right: it was a recommended one.

To take it to Consob, the uncle, Michele Marino, then Deputy Director General, now retired, very close friend of Massimo D’Alema, he called him contract in 1996 and not for public competition, as had almost all the other employees of the Supervisory Authority of the Stock Exchange.

In short, a dress made especially for him, very close to the CGIL, in particular to the Camusso who sponsored him over the years together with D’Alema that twenty years ago, that is from 1998 to 2000 he was president of the Council.

Last note: in the written examination Minenna had very low marks, it was not really cut for the matter. To the oral, strangely took the highest marks and the average, necessary to enter, was magically reached.

For this reason the Senator Grillino, but then in force to Italy of Values, Elio Lannutti in a parliamentary question called him a recommended name! But also an opportunist, who wanders from the Democratic Party, to the 5 Star Movement …

He immediately entered as head office and then manager making a quadruple somersault.

Promoter of an initiative aimed at introducing mathematical programs to establish the price of bonds, the probabilistic final theory, considered unreliable.

Then there would be the question of lectures at the Bocconi University in Milan. What’s wrong?

Nothing, pity that when the professor went to Milan to teach was on a mission on behalf of Consob, and after an audit of several months, the Internal Commission sanctioned him with a reduction of one fifth of salary.

He appealed to the TAR of Lazio, which canceled the penalty …

On the name of Minenna weighs the veto of the Head of State, Sergio Mattarella.

From the Quirinale only leaks of course, nothing official, but there is no doubt that Mattarella does not want a nominated by the policy, nor by the Lega-M5S government.

To replace Mario Nava, who resigned in September following the pressures of the League and the 5 Star Movement that had denounced the incompatibility between the separation from the technical offices of the European Commission and the leadership of Consob, would like a personality expression of civil society, outside the parties , independent, capable and not chatted.

Enea Feanza

According to the rumors, it would be the identikit of Enea Franza, accountant, auditor, manager responsible for the Consumer Protection Office that takes care of relations with savers and their associations by activating initiatives to increase the financial culture and manage the exhibits.

It is a very important institution, to protect markets and savers / investors.

In short, to name one among many, the Parmalat case, with thousands of investors and investors, ended up on the pavement, if Consob had worked as expected from an independent Authority, without political influences, would not have happened.

Franza, who is also a journalist, author of numerous publications on capitalism and finance, enjoys the support of Bankitalia and most of the Consob executives with 650 employees and over 50 executives.

The last word, however, lies with Mattarella who will have to appoint the next president of the Supervisory Authority on the proposal of Prime Minister Giulio Conte.

Mattarella will choose taking into account any conflicts of interest and most importantly, independence from parties and lobbies.

And Minenna does not have the requisites of independence from the parties even if he wants to reiterate that he was co-opted to the town of Rome by the grillini as councilor with a “technical” role

Ruocco however – in homage to the “familist” turn of the Movement, which now resembles in all respects the other parties, except for the limit of the two mandates – supports his Marcellino chair.

A conflict of interest that has not escaped Mattarella and his collaborators who have pointed out that, apart from the report, there is the fact that Ruocco is president of the House Finance Committee, in front of which Minenna in 2015 reported on question of derivatives.

At that time the Neapolitan parliamentarian was a member of the same Commission.

Then there are a series of parliamentary questions of Ruocco against former president Vegas, in support of Minenna who would have had the placet of both the vice premier and political leader of the Movement, Luigi Di Maio, and Casaleggio jr.

In short, a conflict of interests more than obvious to which Mattarella does not want to bend.

But on the candidacy of Minenna, whose character is irascible and smoky, the skepticism of the League also weighs heavily, worried by its extreme positions on banks and insurance companies.

Even a part of the Movement would be opposed: in particular the ever-increasing frond, led by the President of the Chamber, Roberto Fico, whose soul still harbor, not all, the sacred principles of the Movement founded by Beppe Grillo and Gianroberto Casaleggio.

Who are the other candidates?

Always in share Movement 5 Stars, circulates the name of Donato Masciandaro, Bocconi, expert in monetary policy, well introduced in the banking world and editorialist for years of the Sole 24 Ore, But the League seems oriented towards Alberto Dell’Acqua, also Bocconi , economist

Among the names that circulate there is Magda Bianco, economist, advisor to the presidency of the Republic with Sergio Mattarella for economic policy.

Bianco is also responsible for the Customer Protection and Anti-Money Laundering Service within the Bank of Italy’s Supervision.

Salvini and Di Maio have already said that they can not accept an application too close to President Mattarella.

Meanwhile, the toto nomine continues …