Italian Risk Is Detonating the Euro

1. If you still haven't figured out how the idiot financial regulators and even more muppet politicians don't understand at all the meaning of the CDO bomb they have fashioned to destroy the Euro, or because the topics of existential finance and political economics are just too boring to bother you, then you need not worry that the lies, deceptions, frauds and particularly bad fiscal and monetary management of Italia is now being translated into the booty of investment bankers and hedge fund arbitrageurs.

2. With certain Italian banks having highly leveraged exposure [greater than 26 times) to Eurorisk, their CDS act like binary flies around a rotting corpse. Despicably but irresistibly delicious to the protection buyers (hedge funds who are shorting the Euro) against the protection sellers (governments, central bankers, and of course, employee pension funds).

3. For some facts and figures on this debacle, see: http://www.zerohedge.com/article/unicredit-stock-halted-after-plunge-reopens-after-more-fears-tremonti-gone.