Capitalismo all'italiana

摘要

When Mediobanca said in June that it planned to put most of its stakes in other companies up for sale and become a "normal" bank, critics of crony capitalism cheered. For decades the Italian investment bank has sat at the centre of a web of cross-shareholdings, shareholder pacts and nested stakes that has allowed a small group of banks, big companies and rich families to control the destinies of many of Italy's most important firms. Although some claim that the system in its day made it possible to rescue troubled companies and protect businesses from predators and politicians, more blame it for embedding bad management and weak capitalisation.