A lesson for those of us who engage in schadenfreude is the Parmalat scandal in Italy; another is here. It's Enron, something EU trash said couldn't happen there. Difference is that Italy wants governments to bail them out to keep company in "Italian hands". This means it will happen again there. There is nothing that happens "there" that can't happen "here". Makes not difference where the "here" and "there" are located.