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Parmalat Probe Eyes Role of Banks

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Parmalat Probe Eyes Role of Banks

Business

Parmalat Probe Eyes Role of Banks

Parmalat Probe Eyes Role of Banks

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  • <iframe src="https://www.npr.org/player/embed/1673882/1673883" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

The probe into the $180-billion financial collapse of Parmalat expands, as investigators focus on banks that may have helped hide the Italian food giant's troubles. Bank of America, Morgan Stanley, Deutsche Bank and others handled huge bond issues that kept Parmalat afloat — and yielded handsome commissions for the banks and their managers. NPR's Sylvia Poggioli reports.