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The Time To Re-Re-Reban CDS Is Here As Italian Spreads Explode

By: capt_nemo in ROUND | Recommend this post (0)
Mon, 31 Oct 11 7:28 PM | 41 view(s)
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Submitted by Tyler Durden on 10/31/2011 - 11:33 Belgium CDS Dick Bove DVA France Germany Greece Ireland Italy Portugal Sovereign CDS United Kingdom

The first three CDS ban attempts have failed. So has the coordinated ISDA attempt to make sovereign CDS a product with absolutely no functionality. The fourth time will be the charm though. The EFSF guarantees it! On the other hand, think of the massive EPS profit that Italy will post this quarter as a result of today's CDS blow out courtesy of the DVA accounting gimmick. Surely Dick Bove will imminently upgrade it to Dodecatuple Turbo Buy.

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http://www.zerohedge.com/news/time-re-re-reban-cds-here-italian-spreads-explode




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