Mr Padoa-Schioppa's task will be to make such disasters the exception rather than the norm.
Mr Prodi's finance minister, Tommaso Padoa-Schioppa, had crafted an austerity package that relied heavily on tax increases.
Although Mr Padoa-Schioppa recognises that confidence in the stock exchange will not grow overnight, he is optimistic.
SIM, a prominent local securities house, says that most of Milan's stockbrokers now firmly support Mr Padoa-Schioppa.
And now Mr Padoa-Schioppa is canvassing views about how regulation might be improved.
Mr Padoa-Schioppa wants regulation to be less intrusive, and to move towards a system of self-regulation by participants in the market.
There is growing talk of dumping Mr Padoa-Schioppa in the new year.
Mr Padoa Schioppa headed Consob, Italy's securities' watchdog, briefly, before being appointed to the executive committee of the European Central Bank last year.
The draft budget drawn up by the finance minister, Tommaso Padoa-Schioppa, is being modified in response to lobbying by different parties in the coalition.
ECONOMIST: The centre-left holds on for now; can Silvio Berlusconi?
Mr Padoa-Schioppa's first budget raised the top income-tax bracket to 43%.
ECONOMIST: A surprising boost in revenues fuels a debate about tax cuts
They admit, however, that Consob, the stockmarket regulator, has improved since Tommaso Padoa-Schioppa, a former deputy general manager of the central bank, became its boss in April.
The outgoing finance minister, Tommaso Padoa-Schioppa, put up tax rates while cracking down on tax evasion a combination that made the government hugely unpopular, and damaged Mr Veltroni's campaign.
It is a problem Consob itself should be familiar with: since March it has been headed by Tommaso Padoa Schioppa, who was previously deputy general manager of the central bank.
At the outset Mr Padoa-Schioppa insisted that stringent measures were needed to rein in a budget deficit that had got out of hand in the dying months of Silvio Berlusconi's centre-right government.
One of this idea's boosters is Tommaso Padoa Schioppa, whose lengthy career at the Banca d'Italia ended in 1997, after he had fallen out with Antonio Fazio, the central bank's present governor.
An economist by training, Mr Padoa-Schioppa has climbed almost to the top of Italy's central bank, managed the European Commission's economics and financial affairs division and chaired a prestigious international committee of bank regulators.
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