Report: Mafia Now Italy’s Biggest Bank Due To Economic Crisis

The Blaze has told you this week about the growing black market in Europe and the rapidly strengthening influence of the ‘Ndrangheta mafia clan across Europe and even overseas.

Well, the most recent financial numbers have come in, and things are just as bad as we thought. In fact, they may be worse.

Today the mafia is not only the biggest bank in Italy– it is the country’s single most profitable business as well, thanks in large part to crippling national debt and rampant government corruption.

Report: Mafia Now Italys Biggest Bank Due To Economic Crisis

file photo

Mafia clans– including the ‘Ndrangheta, Camorra, Stidda and the Sacra Corona Unita– are pulling in $204 billion a year. Each crime family is known to control illegal activity and massive amounts of cash around the globe.

It’s clear that the mafia has harnessed globalization for its own illicit ends. ABC News cites a report from Confesercenti, an Italian employment association, released Tuesday that describes:

“various different mafia clans… as the “biggest bank” in the country with 65 billion euros ($83 billion) in liquidity. The association said the situation was a “national emergency” affecting businesses throughout Italy and is no longer to be considered as having a more powerful hold on the south of the country.”

Marco Venturi, President of Conferscenti, stated that ”During this economic crisis, mafia organizations are the only businessmen able to invest. We should never forget that the economic crisis is useful for organized crime which influences the legitimate economy and floods the illegal economy with both the production and sale of illegal goods.”

Venturi also said that “small and medium-size businesses are the main victims of rackets, loan sharking, and robberies by organized crime that generate 140 billion euros a year of which 100 billion are extracted from companies.”

Italian police have also pointed to a surge in loan sharking due to the present economic climate which is making it very difficult for Italians to borrow money.

Report: Mafia Now Italys Biggest Bank Due To Economic Crisis

Carabinieri (photo credit: Mariscalive)

According to estimates, loan sharking forced 1,800 businesses to close and destroyed thousands of jobs. Small business owners are the most vulnerable given Italy’s harsh economic climate, and around 200,000 are victims of usury.

Confesercenti, which represents around 270,000 Italian businesses, estimates firms are subjected to 1,300 crimes a day or 50 every hour, nearly one every minute.

And in the shadows, ‘Ndrangheta and other clans make millions in cash with each drug sale, which they invest in businesses, real estate, corrupt police, and of course, politicians.

Comments (36)

  • Newsy
    Posted on January 17, 2012 at 10:17pm

    We should never forget that the economic crisis is useful for organized crime which influences the legitimate economy and floods the illegal economy with both the production and sale of illegal goods.”

    Oh yeah we don’t forget we got our own gang in D.C. They’re doing a bang up job of robbing the taxpayers and buddying up to Marxist, Communists, Muslims and the like while the President appoints his socialist leaning cronies to the board of the Federal Reserve that is run by The Central Bank (3 in one) that controls the banks in most of the world. Yep we know what the Mafia is like.

    With any luck we will elect an “Eliot Ness” to clean up this mess.

    Report Post »  
  • wdittgasn
    Posted on January 15, 2012 at 2:26pm

    Nice firearms.

    Report Post » wdittgasn  
  • JQCitizen
    Posted on January 11, 2012 at 10:59pm

    Well, since all the banks in this nation are “regulated”(owned) by our government, wouldn’t the Mafia be the Biggest Banker here, too?

    Report Post »  
  • Joker50
    Posted on January 11, 2012 at 8:10pm

    It also used to be the biggest influence in the money game in this country. Believe it or not, when the Unions were controlled by this group, there was extremely low unemployment and always jobs available,especially in the Big Cities. I am not saying that it’s right but these are facts.

    Report Post »  
  • Papa Joe
    Posted on January 11, 2012 at 6:37pm

    There they go, blaming the Italians again. trying to the they spot light away from the real crooks, the Chicago democrats, the real thugs and the biggest thieves in the world by stealing from American taxpayers.

    Report Post »  
    • Ronomundo
      Posted on January 11, 2012 at 7:18pm

      Yes, that is correct. The Chicago thugsters in the White House must be gloating over the picture with countless stacks of US $100 Bills. Just how does all that currency get over there? Oh, I forgot, the corportists and government enterprises sent it over there. It is well past time to return to our old fashioned free enterprise system. With all it’s faults, it was the best that ever was. Let us people reduce the size of government. For example, we only need one part-time person to run the department of education. The only duty they will have is to right 50 checks per month to the state departments of education. Return the student loan program to the small home town banks. Forget the multi-national banks. That is just the beginning. I am one of many who have given up on the two-party duololy. To fix our political system requires us to CONSERVE to original intent of the constitution. Join me at the ConservativePartyUSA.com

      Report Post » Ronomundo  
  • NOBALONEY
    Posted on January 11, 2012 at 4:45pm

    Interest rate 125%, or a little piece of you at a time. Just like the IRS.

    Report Post » NOBALONEY  
  • RWIce
    Posted on January 11, 2012 at 3:49pm

    Congressional Reform Act of 2012
    1. Term Limits.
    12 years only, one of the possible options below..
    A. Two Six-year Senate terms
    B. Six Two-year House terms
    C. One Six-year Senate term and three Two-Year House terms
    2. No Tenure / No Pension. All Congressmen and Senators will collect a salary while in office and receives no pay when they are out of office.
    3. All Congressmen and Senators (Past, present & future) will participate in Social Security.
    All funds in the Congressional retirement fund move to the Social Security system immediately. All future funds flow into the Social Security system, and Congress participates with the American people.
    4. Congressmen and Senators can purchase/invest in their own retirement plan, just as all Americans do.
    5. Congressman and Senators will no longer vote themselves a pay raise. Pay will rise by the lower of CPI or 3%.
    6. Congressmen and Senators lose their current health care system and participate in the same health care system as the American people.
    7. Congressmen and Senators must equally abide by all laws they impose on the American people.
    8. All contracts with past and present Congressmen and Senators are void effective 1/1/12.
    The American people did not make these contracts with Congressmen and Senators. Congressmen and Senators made all these contracts for themselves.
    Serving in “OUR” Congress and Senate is an honor, not a career. The Founding not a career. The Founding Fathe

    Report Post »  
    • Joker50
      Posted on January 11, 2012 at 8:15pm

      This is the best idea that could be implemented. But I bet you dollars to doughnuts that not one person in Congress will vote for it. There has to be a public referendum so the American Public can vote on it.

      Report Post »  
  • Jim213
    Posted on January 11, 2012 at 3:06pm

    Bluefish49 you are close ! The Democratic congress, Senate and White House are now cntrolled by the Mafia !

    Report Post »  
  • the old man
    Posted on January 11, 2012 at 2:25pm

    We have a similar Mafia here in the US, and it is headquartered in Washington DC. They forcibly take from the people in order to expand and live lavishly. Difference being, they are not concerned with making a profit.

    Report Post »  
    • Zarras
      Posted on January 11, 2012 at 3:15pm

      You gotta love the spin. Italian banks, for whatever reason, won’t loan businesses money. So, before they go under they turn to the only source available, namely “the mafia”. Then when they do go under its the mafia’s fault. Why can the mafia loan money but the banks can’t? What constraints are on the banks that are not on the mafia? Maybe these questions should be answered realistically and publicly.

      Report Post »  
    • RWIce
      Posted on January 11, 2012 at 3:44pm

      Congressional Reform Act of 2012

      1. Term Limits.
      12 years only, one of the possible options below..

      A. Two Six-year Senate terms
      B. Six Two-year House terms
      C. One Six-year Senate term and three Two-Year House terms

      2. No Tenure / No Pension.

      All Congressmen and Senators will collect a salary while in office and receives no pay when they are out of office.

      3. All Congressmen and Senators (Past, present & future) will participate in Social Security.

      All funds in the Congressional retirement fund move to the Social Security system immediately. All future funds flow into the Social Security system, and Congress participates with the American people.

      4. Congressmen and Senators can purchase/invest in their own retirement plan, just as all Americans do.

      5. Congressman and Senators will no longer vote themselves a pay raise. Pay will rise by the lower of CPI or 3%.

      6. Congressmen and Senators lose their current health care system and participate in the same health care system as the American people.

      7. Congressmen and Senators must equally abide by all laws they impose on the American people.

      8. All contracts with past and present Congressmen and Senators are void effective 1/1/12.

      The American people did not make these contracts with Congressmen and Senators. Congressmen and Senators made all these contracts for themselves.

      Serving in “OUR” Congress and Senate is an honor, not a

      Report Post »  
  • stevor
    Posted on January 11, 2012 at 1:55pm

    So Max Keiser (if you’re not aware of his knowledge of finance, you ought to check him out) says, the 2008 financial lack of cash was largely because the DRUG cartel pulled out their cash for a while – without Mafia cash, the world would have trouble going round.

    Report Post »  
  • roadhog
    Posted on January 11, 2012 at 12:36pm

    May be these people could Help Jon Corzine find the money belonging to the 38.000 depositors that is so called losted.

    Report Post »  
    • lodgerat
      Posted on January 11, 2012 at 1:18pm

      I heard the money isn’t lost, somebody just put a decimal point in the wrong place. :o)

      Report Post » lodgerat  
  • bigfatslob
    Posted on January 11, 2012 at 12:18pm

    You can see how free enterprise flourishes when safe from the corruption of government. I wager that the Mafia employs many thousands of workers as well as providing funds for the operation of businesses unable to borrow from an over regulated banking system. Further the Mafia can supply popular goods and services at reasonable prices as they are free of ISO regulations and VAT taxes.

    Report Post » bigfatslob  
  • don young
    Posted on January 11, 2012 at 12:13pm

    They keep saying crime doesn,t pay.

    Report Post »  
  • BuggiOlleo
    Posted on January 11, 2012 at 8:55am

    –IFFERENT! Competition is a lively blood race and quest to pursue happiness at ANY means necessary.. Our fellow man can be boiled, skinned, shredded–JHoffa..Sr?!–amputated, blinded, consumed, slaved, or …hmmmmm..deafened all for the sake of a better life. Government has existed using corruption and religion FOREVER! But, that terrible problem of TRUTH suffices–now Social Media??! What is Government to do now????!!! EVOLVE..Are you ready? I’d say its just about to–POP!!! ITALY, GREECE, SPAIN, US, China, Russia, SAmerisca, Japan, DOMINO!

    Report Post » BuggiOlleo  
  • BuggiOlleo
    Posted on January 11, 2012 at 8:55am

    Oh, this is cute article. So, the EU country of Italy is having ???? corruption problems?? Who would ever think that Italy, who has a Huge Government in comparison to the US “per person” (government regulates and taxes every aspect of Italian life-Big Bro x10)could ever suffer at the hand of corruption.
    Maybe its just an Italian thing?! Uhuh!
    Bankers BAnk..always trying to make money via “OPP”! You could scream SHYLOCK at a bank..Not buying that one either. The Government has stepped way out of bounds WORLD OVER..promising a better life through enforcement by policing businesses and tax cheaters..then again, just how do you squeeze blood from turnips…When people really start feeling the sting of Organized (though not at this time not Hereditary..NKorea..) Crime. Starving people WILL steal to feed their bellies.
    The Government, in all its g-reat enthusiasm for Socializing by way of kindness–is killing those of us who want to live peaceful, pitiful lives and screw the Government from Dusk to DAY..Paying for folks who produce nothing is called “entitling”Privilege is responsibility not Hereditary.! Italy is about to collapse-financially. Is it NAY wonder people have turned to those who can be depended upon — even IF the interest is a bit HIGH – Dig?!
    ‘Times’ are recirculating as if WWII all over again–but wayyy back then Social Media did not exist. Skirmishes in EU will ripple across continents–not because of Bankers, but because the people of the World are D

    Report Post » BuggiOlleo  
  • EagleRidge
    Posted on January 11, 2012 at 8:48am

    Its amazing how a bad world wide economy is abetting crime.

    Report Post »  
    • TXPilot
      Posted on January 11, 2012 at 12:01pm

      I wonder if it causes concern for folks, when their loan officer is called “Vinny the Leg Breaker”??

      Report Post » TXPilot  
  • hauschild
    Posted on January 11, 2012 at 8:34am

    Cool – just like old times!

    Report Post »  
  • txn4justice
    Posted on January 11, 2012 at 8:04am

    What a minute; are they talking about Mexico or Italy here.

    Report Post »  
    • caleejr
      Posted on January 11, 2012 at 8:30am

      as corrupt as things are here with the ‘Chicago Way’ …in a couple months, all they’ll have to do to this story is change the name of the country to America.

      Report Post » caleejr  
    • txn4justice
      Posted on January 11, 2012 at 9:26am

      Sad to see it. Awesome police dog though. Not over bred and inbred like the US German Shepherds.

      Report Post »  
    • Bluefish49
      Posted on January 11, 2012 at 9:51am

      We have Mafis here in America also except it’s called “Unions”.

      Report Post »  
  • The_Jerk
    Posted on January 11, 2012 at 7:47am

    The central banking system is the most powerful crime syndicate in the world. Just like the ‘Ndrangheta and the Cosa Nostra, it is tied to an ethnic clan dispersed around the globe. Unlike the ‘Ndrangheta and Cosa Nostra, the banking cartels are Jewish and not Italian.

    Report Post »  
  • toomuchgovt
    Posted on January 11, 2012 at 7:08am

    Censorship on comments regarding, fannie & freddie? People needing a atty at closing? And Banking alternatives? Wow, blaze now I know why I click Drudge first for the news.

    Report Post » toomuchgovt  
    • popweasel
      Posted on January 11, 2012 at 7:52am

      Pretty sure I see your post just below this one. Paranoid much?

      Report Post »  
  • toomuchgovt
    Posted on January 11, 2012 at 7:04am

    Maria, Fannie, Freddie so what is the difference? One you know what you are getting into just on the face of it, the other, offers a very low interest (without a personal lawyer to protect them, “the bank will be your lawyer”) then increases after a honeymoon period. The later is worse the borrower actually pays the “bank atty” non representation.

    Tip – the bank atty is the banks atty… The best money you will ever spend is on your own atty for one of the biggest expenditures in your life. Believe me, that atty takes all the burden and walks out of that closing with the smallest check.

    This is Americas future, with all the bank bashing. People will seek an alternative. It is not the sole responsibilities of the banks

    Report Post » toomuchgovt  
  • martnee777
    Posted on January 11, 2012 at 6:41am

    Pales in comparison to the Obama crime family.

    Report Post » martnee777  
    • grandmaof5
      Posted on January 11, 2012 at 7:07am

      Couldn’t agree more. The government is the biggest crime family in the US and it is being aided by a complicit Congress. 2012 elections are looming – vote the crooks out! That is, if we have an election…..

      Report Post »  
    • poorrichard09
      Posted on January 11, 2012 at 7:44am

      They say it costs an arm and a leg to borrow money from the Mafia-literally!

      Report Post »  
  • MeMadMax
    Posted on January 11, 2012 at 6:27am

    ROFL!!!
    Thats sad….

    Report Post » MeMadMax  

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