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Berlusconi To Resign After Passage Of 2012 Budget... Some Time In The Future

Tyler Durden's picture





 

Surely this means all Italian labor unions, which are at the heart of this whole fiasco, will now gladly unravel and Italian debt will be promptly rolled. All $400+ billion of it in the next 12 months. 

Just out from Bloomberg:

  • BERLUSCONI TO RESIGN AFTER APPROVAL OF AUSTERITY LAWS
  • ITALY'S PRESIDENT NAPOLITANO COMMENTS IN E-MAIL STATEMENT
  • ITALY'S BERLUSCONI TO RESIGN AFTER APPROVAL OF AUSTERITY LAW
  • ITALY'S PRESIDENT TO START CONSULTATIONS AFTER RESIGNATION

Naturally there is fine print and it is that Berlusconi would resign after the 2012 Budget is passed. As a reminder, today saw the 2010 budget passage. So, Silvio is out... in 2013?

In the meantime, this:

 

...At least until Silvio updates his facebook wall and says it was all a misunderstanding.

 


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Tue, 11/08/2011 - 14:49 | Link to Comment transaccountin
transaccountin's picture

and this does what?

Tue, 11/08/2011 - 14:51 | Link to Comment rosex229
rosex229's picture

Yay! italian bond yields will fall to where they were a week ago to levels that were at the time records.

clearly the world is saved.

Tue, 11/08/2011 - 14:55 | Link to Comment Jay Gould Esq.
Jay Gould Esq.'s picture

How many "governments" does this make for the Repubblica Italiana since 1945 ? 

66 ? 

Tue, 11/08/2011 - 14:59 | Link to Comment TruthInSunshine
TruthInSunshine's picture

One might be led to question whether the scientists acted wisely in presenting the statesmen of the world with this appalling problem. Actually there was no choice. Once basic knowledge is acquired, any attempt at preventing its fruition would be as futile as hoping to stop the earth from revolving around the sun.

— Enrico Fermi

'Atomic Energy for Power', Collected Papers (Note e Memorie) (1939-1945), Vol. 2, 556

Tue, 11/08/2011 - 15:02 | Link to Comment Ahmeexnal
Ahmeexnal's picture

POMPINO!

Tue, 11/08/2011 - 15:06 | Link to Comment Mugatu
Mugatu's picture

ciao bitchez!

Tue, 11/08/2011 - 15:21 | Link to Comment Manthong
Manthong's picture

Bullish .. it.

Bloomberg:

"U.S. stocks rose for a second day and the euro strengthened as Italy’s president said Prime Minister Silvio Berlusconi has agreed to resign,"

http://www.bloomberg.com/news/2011-11-08/euro-weakens-a-third-day-before-italy-vote-as-japan-shares-fall-on-olympus.html

 

Tue, 11/08/2011 - 15:22 | Link to Comment redpill
redpill's picture

I still don't see why this is a positive sign for the markets.  The Italian Parliament is unlikely to be able to form a majority government and who knows what would result from elections in January.  I guess the short-term austerity package is all the market cares about, but it seems like stupid myopic enthusiasm to me.

Tue, 11/08/2011 - 15:26 | Link to Comment Raskolnikoff
Raskolnikoff's picture

all signs are bullish and all the real players are gone, the stock market is simply a sponge used by government to fund its mad scientist like dreams of political utopia

Tue, 11/08/2011 - 15:49 | Link to Comment moneyline
moneyline's picture

As long as it causes more delays, it is positive. I have come to find out through being bearish and losing my ass in the market that the actual news matters very little since it is usually all rumor, empty promises and innuendo. It is all a matter of how the news is spun and liberal amounts of printed/computer generated fiat currency pumped into the markets. Throw in some algobots with a positive bias and presto! You have a year-end melt up rally! Hooray beer!

Tue, 11/08/2011 - 16:50 | Link to Comment redpill
redpill's picture

I appreciate the Red Stripe shout out at the least!

Tue, 11/08/2011 - 15:00 | Link to Comment Hard1
Hard1's picture

G Pap told him about the island he is retiring and the ammenities.  Berlusconi can't wait to quit.  Zapatero joining soon.

Tue, 11/08/2011 - 15:11 | Link to Comment wisefool
wisefool's picture

It will be interesting to see the point were a product of bunga bunga tries to reclaim his maybe fathers throne.

maps.google.com

Tue, 11/08/2011 - 15:57 | Link to Comment NotApplicable
NotApplicable's picture

But the island isn't finished yet!

http://principalityofnewutopia.com/

Tue, 11/08/2011 - 15:03 | Link to Comment hambone
hambone's picture

But "this time it's different"...all those hard choices Italy (and US) always put off, all those structural reforms that were politically untouchable, all those unneccessary gov workers...well there gone - it's all taken care of now and we'll grow our GDP at 5X's the average to boot.  Of course it's rally time.

Tue, 11/08/2011 - 14:57 | Link to Comment kaa1016
kaa1016's picture

I agree. Each day I become more and more amazed at how stupid people really are. What exactly does this do? They still, never mind. This is not a rational thinking market with rational thinking people. This is going to end very badly....

Tue, 11/08/2011 - 15:00 | Link to Comment ZerOhead
ZerOhead's picture

No no no... a terrible mistake has been made.

Berlusconi meant to say re-sign not resign.

Apparently he meant to say he is going to be re-signing himself up one more five year term as Prime Minister.

Tue, 11/08/2011 - 15:18 | Link to Comment oogs66
oogs66's picture

he was the reason people were selling italian bonds?  yeah, right :D

Tue, 11/08/2011 - 15:26 | Link to Comment Unprepared
Unprepared's picture

Keyword here is "after": an open-ended preposition.

Tue, 11/08/2011 - 14:52 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

It means that soon Silvio will be free to pay for underage prostitutes without public scrutiny.

Tue, 11/08/2011 - 15:05 | Link to Comment Ahmeexnal
Ahmeexnal's picture

Are you saying he's going to become a catholic priest?

Tue, 11/08/2011 - 15:29 | Link to Comment alien-IQ
alien-IQ's picture

No...he likes girls.

Tue, 11/08/2011 - 15:31 | Link to Comment Idiocracy
Idiocracy's picture

and priests NEVER pay for it

Tue, 11/08/2011 - 15:35 | Link to Comment Raskolnikoff
Raskolnikoff's picture

You must not be Catholic, as you must have been asleep these past few decades...priests or ministers or any religious leader getting a pass, like any Republican or conservative remotely connected to anything gets a pass...LOL, either you're Rip Van Winkle or simply plain stupid. In regards to anything sexual, this whole country and culture has become stuck in adolescence which mirrors our governments and central banks ideas about the stock market perfectly

Tue, 11/08/2011 - 15:07 | Link to Comment i root for that...
i root for that fat jersey governor's picture

it is a shame that his "hot" cabinet members might leave with him. dude, some of them are really nice looking chicks.

Tue, 11/08/2011 - 14:52 | Link to Comment NotApplicable
NotApplicable's picture

Condemns the average Italian to poverty, while Bunga-Bunga heads for the exits, quick!

Tue, 11/08/2011 - 15:26 | Link to Comment Ethics Gradient
Ethics Gradient's picture

Nearly. Bunga bunga has a week to plan which exit to take from parliament to ensure he's not arrested then how to get to the plane and to ensure he has a stack of shiny yellow metal prepositioned at his favoured destination.

Tue, 11/08/2011 - 14:52 | Link to Comment HelluvaEngineer
HelluvaEngineer's picture

Guns the market into the close...

Tue, 11/08/2011 - 14:53 | Link to Comment Chuck Bone
Chuck Bone's picture

Hide your daughters, hide your wife...

Tue, 11/08/2011 - 14:55 | Link to Comment fuu
fuu's picture

...they rapin' everybody out here!

Tue, 11/08/2011 - 15:07 | Link to Comment Odin
Odin's picture

lol!

Tue, 11/08/2011 - 15:10 | Link to Comment Odin
Odin's picture

lol!

Tue, 11/08/2011 - 14:59 | Link to Comment MsCreant
MsCreant's picture

Lock up your back door, run for your life...

http://www.youtube.com/watch?v=pR30knJs4Xk

ACDC

Tue, 11/08/2011 - 15:21 | Link to Comment blu
blu's picture

John Fogerty: "You better hide-y hide-y hide -- the old man is down the road."

http://www.youtube.com/watch?v=gsLkb-5NU-o&feature=related

 

Tue, 11/08/2011 - 15:28 | Link to Comment Unprepared
Unprepared's picture

And hide your ass as well.

Tue, 11/08/2011 - 14:57 | Link to Comment gorillaonyourback
gorillaonyourback's picture

means the austerity laws won't be passed

Tue, 11/08/2011 - 15:02 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

Now THAT would be interesting.

Tue, 11/08/2011 - 15:40 | Link to Comment The Deleuzian
The Deleuzian's picture

Interesting analysis....

Tue, 11/08/2011 - 15:02 | Link to Comment jdelano
jdelano's picture

Open the window.  I've had enough.  Addio Mondo Crudele.  Time to bow out.  

Tue, 11/08/2011 - 15:21 | Link to Comment Schmuck Raker
Schmuck Raker's picture

Can I have your gold?

Tue, 11/08/2011 - 15:02 | Link to Comment gorillaonyourback
gorillaonyourback's picture

means the austerity laws won't be passed

Tue, 11/08/2011 - 15:20 | Link to Comment Deadpool
Deadpool's picture

First Joe Paterno and now this! where will adolescents go now to become adults?!

Tue, 11/08/2011 - 15:21 | Link to Comment onelight
onelight's picture

indeed....what if this is the top for the euro? not guessing just wondering when..

Like a Fellini movie over there...bizarre characters, weird plot twists..too many what the hell is that moments to count..

Here is some insight

http://www.minyanville.com/businessmarkets/articles/italy-government-ita...

Tue, 11/08/2011 - 14:49 | Link to Comment Belarus
Belarus's picture

Ah....good for another 1,000 pts on the DOW. 

Tue, 11/08/2011 - 14:51 | Link to Comment ZeroPower
ZeroPower's picture

Yes. Action is like yesterday's intraday moves... exactly.

Tue, 11/08/2011 - 14:52 | Link to Comment i root for that...
i root for that fat jersey governor's picture

rally monkey is on!!!

Tue, 11/08/2011 - 14:53 | Link to Comment i root for that...
i root for that fat jersey governor's picture

rally monkey is on!!!

Tue, 11/08/2011 - 15:05 | Link to Comment kengland
kengland's picture

Gold and silver getting freaking hammered. Equities rolling. Shorts frying. Other than gold and silver tanking, pretty straight forward. Market is pricing in some gnarly inflation coming out of this

Tue, 11/08/2011 - 15:27 | Link to Comment Deadpool
Deadpool's picture

"hammered"? your thesaurus must be broken. gold over $1800 +25% on the year is a hammering?

Tue, 11/08/2011 - 15:46 | Link to Comment NotApplicable
NotApplicable's picture

Bang, bang, Maxwell's Silver Hammer came down upon his head...

Tue, 11/08/2011 - 14:50 | Link to Comment YesWeKahn
YesWeKahn's picture

For once. this is not even a rumor.

Tue, 11/08/2011 - 14:50 | Link to Comment PivotalTrades
PivotalTrades's picture

So that means he PM for life

Tue, 11/08/2011 - 14:51 | Link to Comment junkyardjack
junkyardjack's picture

I thought they already made and denied that rumor.  Its a bit early for it to make a second round, we haven't even heard about China bailing out Europe again again

Tue, 11/08/2011 - 14:51 | Link to Comment alien-IQ
alien-IQ's picture

Judging by the market reaction, he's being replaced by Jamie Dimon.

Classy move huh? Fuck the nation in the ass and leave town.

That cocksucking fuckhead.

Tue, 11/08/2011 - 15:05 | Link to Comment gorillaonyourback
gorillaonyourback's picture

by the look of him he did use lube,  coulda been worse

Tue, 11/08/2011 - 14:51 | Link to Comment Mercury
Mercury's picture

Now is the time for the faaahhcking!

Tue, 11/08/2011 - 14:51 | Link to Comment truont
truont's picture

BERLUSCONI:  "Can I still get girls after I resign?"

NWO:  "Sure"

BERLUSCONI:  "Then challenge accepted..."

Tue, 11/08/2011 - 14:52 | Link to Comment Deadpool
Deadpool's picture

wow, think of all the Ginnie tweener female broken hearts over that one.

Tue, 11/08/2011 - 14:54 | Link to Comment jomama
jomama's picture

shit... time to place one last order for silver.

*edit hopefully it's not my last order..

Tue, 11/08/2011 - 14:54 | Link to Comment Dr. Engali
Dr. Engali's picture

3:00 rumor came early. I wonder which fed tool they will put in as a replacement. Is this what the Bernank means when he says the fed still has plenty of tools?

Tue, 11/08/2011 - 15:05 | Link to Comment Market Efficien...
Market Efficiency Romantic's picture

Check out Mario Monti, Trilateral and Bilderberg, former EU commissioner, came out of his defence position just today. He will be the one. Super Mario^2!

Tue, 11/08/2011 - 15:39 | Link to Comment topcallingtroll
topcallingtroll's picture

No.

Bernank was talking about you.

(just kidding, sweetie)

Tue, 11/08/2011 - 14:54 | Link to Comment MsCreant
MsCreant's picture

All of the countries should get to vote on whether or not they will participate in these bailouts, or default. It is crazy this fucker can do this and resign. Talk about not having skin in the game. His skin is in some teenager somewhere, he does not give a fuck about his people.

Tue, 11/08/2011 - 14:54 | Link to Comment Raymond Reason
Raymond Reason's picture

Now we know what Bill Daley is being prepped for. 

Tue, 11/08/2011 - 14:55 | Link to Comment Boilermaker
Boilermaker's picture

Don't they at least have the dignity to wait until 3PM to release this?  Why so early?

Tue, 11/08/2011 - 15:30 | Link to Comment falun bong
falun bong's picture

HEY don't steal my avatar...

Seriously, Italy is like all the governments of the world these days (especially the US):

Rule #1: If it moves, tax it.

Rule #2: If it keeps moving, regulate it.

Rule #3: If it stops moving, subsidize it.

Tue, 11/08/2011 - 14:55 | Link to Comment Capitalist10
Capitalist10's picture

"after approval of austerity laws"

That could be like saying Greek PM to resign after they pay their bills.

Tue, 11/08/2011 - 15:37 | Link to Comment delacroix
delacroix's picture

after approval of his immunity from prosecution

Tue, 11/08/2011 - 14:55 | Link to Comment pmcgoohan
pmcgoohan's picture

Nice, gentle melt up in the market 30 mins before that announcement. Golden handjob for Silvio?

Tue, 11/08/2011 - 14:55 | Link to Comment Taterboy
Taterboy's picture

After leaving his office he swung by the local high school and picked up his new girlfriend.

Tue, 11/08/2011 - 15:10 | Link to Comment Vaiman
Vaiman's picture

HAhaha...yea....and then he swung by the elementary school to lure one of the blossoming young fillies in grade 7. 

Tue, 11/08/2011 - 15:15 | Link to Comment Vaiman
Vaiman's picture

HAhaha...yea....and then he swung by the elementary school to lure one of the blossoming young fillies in grade 7. 

Tue, 11/08/2011 - 14:55 | Link to Comment Boilermaker
Boilermaker's picture

Don't they at least have the dignity to wait until 3PM to release this?  Why so early?

Tue, 11/08/2011 - 14:56 | Link to Comment nestle
nestle's picture

Bullish!!

don't know why.... but BULLISH!!

Tue, 11/08/2011 - 14:56 | Link to Comment soopy
soopy's picture

Problem solved.

Tue, 11/08/2011 - 14:56 | Link to Comment nobusiness
nobusiness's picture

The headline could have read "Italy to spend less printed money" How is this good for stocks that sell to Europe?

Tue, 11/08/2011 - 15:02 | Link to Comment Nate H
Nate H's picture

because Ms Merkel is no longer an unf*ckable hobbit, but Chancellor of Germany.

Tue, 11/08/2011 - 14:57 | Link to Comment PAPA ROACH
PAPA ROACH's picture

And it puts the lotion in the basket...

Tue, 11/08/2011 - 14:58 | Link to Comment sabra1
sabra1's picture

notice how quickly, the escalation of replacement leaders in europe, and the middle east has taken place? gotta place all your croonies in for the final roundup! 

Tue, 11/08/2011 - 15:50 | Link to Comment NotApplicable
NotApplicable's picture

Step 1:  Let them reign long enough to gain credibility.

Step 2:  Meanwhile, they legalize and supervise the looting.

Step 3: Profit! (as they are deposed and replaced with the next batch of power-seekers)

Step 4: Goto Step 1

Tue, 11/08/2011 - 14:59 | Link to Comment Peter K
Peter K's picture

Well that should bring the Italian 10yr back down to 3%:)   NOT:))))))

Tue, 11/08/2011 - 14:59 | Link to Comment PicassoInActions
PicassoInActions's picture

unless he is going to get immunity he won't step down, but will play the game as G &L_Paps

Tue, 11/08/2011 - 14:59 | Link to Comment virgilcaine
virgilcaine's picture

The rats are escaping the sinking vessel.. the SS EU.

Tue, 11/08/2011 - 14:59 | Link to Comment blu
blu's picture

The high-level rats are now leaving the ship. That should be enough to float the sinking Euro boat for -- oh say -- two additional seconds.

But have no fear, those rats will be right back in a couple years to pick up the pieces of their war-torn nations. Despots returning triumphant always bring the best gifts.

Après moi, le déluge, indeed.

Tue, 11/08/2011 - 15:01 | Link to Comment BORT
BORT's picture

SO if Berlusconi is worth 12 ES points, do we have a table of how many ES points we get per leader who resigns?  Probably a thousand for Obama

Tue, 11/08/2011 - 15:06 | Link to Comment blu
blu's picture

WB7 comic relief senses ... tingling.

Tue, 11/08/2011 - 15:11 | Link to Comment chump666
chump666's picture

that's right you get panic momo buyups on resignations which is actually bearish.  thing is berlusconi isn't going to resign.  rather he will can austerity in an attempt to win the voters/people back.  bring back the Lira and that old Europe thing of dissin other coutries or blaming them for Italy's self induced mess.  

 

Tue, 11/08/2011 - 17:00 | Link to Comment Treason Season
Treason Season's picture

Sgt. Shultz,  "I zee nuhting!"

Tue, 11/08/2011 - 15:01 | Link to Comment qussl3
qussl3's picture

Succesive shots are having less and less of an effect.

Keep shooting up like this and it may be your last.

Tue, 11/08/2011 - 15:04 | Link to Comment The Deleuzian
The Deleuzian's picture

Something's up...Both G-Pap and Berlusconi gone within a week...

Tue, 11/08/2011 - 15:02 | Link to Comment Temporalist
Temporalist's picture

He's getting out while the getting is good.  Stupid for him to want to stay.  With a face like that it'll be hard for him to hide anywhere.  He'll be making a visit to some plastic surgeons soon I'm sure.

Tue, 11/08/2011 - 15:03 | Link to Comment digalert
digalert's picture

 

Ooh! Simon Hobbs CNBS:

You can see the blood from Berlusconi's fingernails...

Tue, 11/08/2011 - 15:04 | Link to Comment disabledvet
disabledvet's picture

He did say he was worried about what might happen to his business. I wonder what that meant?

Tue, 11/08/2011 - 15:04 | Link to Comment chump666
chump666's picture

right   "after" austerity laws....

Italian 10yr @ 7%  coming soon

Tue, 11/08/2011 - 15:05 | Link to Comment Miss America
Miss America's picture

Quiting Rallies???

Gotta love where this is going. 

Maybe Death Rally is next?

Quake Rally?  Apocolypse Rally?  Rally Rallies???

All the Best.

MA/RH

 

Tue, 11/08/2011 - 15:05 | Link to Comment lizzy36
lizzy36's picture

First of all they just voting on 2010 Budget.

At the rate Italy moves the will be voting on 2012 budget in November if 2013.

Berlusconi ain't going anywhere. There is no way that he is done. No way.

Tue, 11/08/2011 - 15:21 | Link to Comment chump666
chump666's picture

you are 100% correct.  he isn't going anywhere.  he will simply can austerity, bring back the Lira and win the voters back.  

Tue, 11/08/2011 - 15:05 | Link to Comment Miss America
Miss America's picture

Quiting Rallies???

Gotta love where this is going. 

Maybe Death Rally is next?

Quake Rally?  Apocolypse Rally?  Rally Rallies???

All the Best.

MA/RH

 

Tue, 11/08/2011 - 15:05 | Link to Comment Conman
Conman's picture

Quick someone check his Facebook page so he can refute this.

Tue, 11/08/2011 - 15:06 | Link to Comment eurusdog
eurusdog's picture

Wish someone who is buying into this rally could tell me how this solves anyone's debt issues.

Tue, 11/08/2011 - 15:06 | Link to Comment Gubbmint Cheese
Gubbmint Cheese's picture

I think Silvio is pushing for Angelino Alfano to take over..

thank god he doesn't have any conflicts of interest/problems/history..

/snark

Tue, 11/08/2011 - 15:07 | Link to Comment Iriestx
Iriestx's picture

HAHA!  I fucking called this as the 3p rumor!

Tue, 11/08/2011 - 15:07 | Link to Comment Tom_333
Tom_333's picture

1000 points that will be gone by mid-Thursday

Tue, 11/08/2011 - 15:07 | Link to Comment Pancho Villa
Pancho Villa's picture

Austerity fatigue. First Greece, then Italy. No one wants to be the Grinch who steals Christmas. They know that the S is about to HTF. Kind of like Greenspan resigning just as the housing bubble was about to collapse.

"Well guys, I think I need a little vacation. You fix it."

Tue, 11/08/2011 - 15:07 | Link to Comment Iriestx
Iriestx's picture

HAHA!  I fucking called this as the 3p rumor!

http://www.zerohedge.com/comment/reply/440188/1856714

Tue, 11/08/2011 - 15:09 | Link to Comment Market Efficien...
Market Efficiency Romantic's picture

That's the power of markets nowaadays. Berlusconi controlled RAI and Mediaset and hence was the first Italian PM to stay for 17 years and then, within a week...

Tue, 11/08/2011 - 15:10 | Link to Comment CvlDobd
CvlDobd's picture

Just shorted XLK on the pop.

Tue, 11/08/2011 - 15:10 | Link to Comment Market Efficien...
Market Efficiency Romantic's picture

That's the power of markets nowaadays. Berlusconi controlled RAI and Mediaset and hence was the first Italian PM to stay for 17 years and then, within a week...

Tue, 11/08/2011 - 15:12 | Link to Comment Market Efficien...
Market Efficiency Romantic's picture

That's the power of markets nowaadays. Berlusconi controlled RAI and Mediaset and hence was the first Italian PM to stay for 17 years and then, within a week...

Tue, 11/08/2011 - 15:58 | Link to Comment Market Efficien...
Market Efficiency Romantic's picture

Not to be confused, I am not valuing one against the other, I only wonder what else that power is going to topple.

PS: Sorry about multiple posts, seemed not to have been posted.

Tue, 11/08/2011 - 15:18 | Link to Comment wang (not verified)
Tue, 11/08/2011 - 15:54 | Link to Comment Market Efficien...
Market Efficiency Romantic's picture

Even European head of Trilateral, educated at Yale by Tobin. After European commission parked at Bocconi, so he did not get burned in everyday politics, remained calm, and then suddenly spoke out today.

Tue, 11/08/2011 - 15:19 | Link to Comment PontifexMaximus
PontifexMaximus's picture

Market will move higher, Berlusca won, lost the majority, but Napolitano has to face the problems. 10 y btp will make big figure change heading north within days. And only then, my friends, something will happen. As long as reflation trade is in, weak USD, strong EUR, the algoshow will go on. Don't forget, the markets will teach a lesson to the italian fanullonis and will kick them hard in their asses, but they will enjoy nice meals, wine and the macchine blu......and the easteuropean hookers.....

Tue, 11/08/2011 - 15:20 | Link to Comment Rastamann
Rastamann's picture

Fourteen Defining Characteristics Of Fascism

#10. Power of labor suppressed or eliminated

Since organized labor was seen as the one power center that could challenge the political hegemony of the ruling elite and its corporate allies, it was inevitably crushed or made powerless.

The poor formed an underclass, viewed with suspicion or outright contempt. Under some regimes, being poor was considered akin to a vice.

Tue, 11/08/2011 - 15:22 | Link to Comment TooRichtoCare
TooRichtoCare's picture

for fukk's sakes, just resign you complete buffoon!  You've made a laughing stock of the country with your ridiculous bunga bunga nonsense & that hairpiece.  Just bugger off and let the country deal with the bankruptcy mess you created.  Maybe you could concentrate instead on trying to keep out of jail for all your corruption.  Jeez...enough already with this clown.

Tue, 11/08/2011 - 15:22 | Link to Comment Vaiman
Vaiman's picture

And it took Bloomberg milliseconds to put the breaking news headline up.  Anything to keep charging the markets up when they start to dwindle a little.

Tue, 11/08/2011 - 15:22 | Link to Comment dereksatkinson
dereksatkinson's picture

Domani!  Domani!

 LOL

Tue, 11/08/2011 - 15:24 | Link to Comment Waterfallsparkles
Waterfallsparkles's picture

Now what are they going to do to keep the Market up?

Tue, 11/08/2011 - 15:24 | Link to Comment Tsunami Wave
Tsunami Wave's picture

BASTA!

Tue, 11/08/2011 - 15:25 | Link to Comment The Deleuzian
The Deleuzian's picture

Kind of an Uncomfortably Numb feeling...Super-Committee market nerves coming in 10 days time...With Greece and Italy in limbo more than ever...I smell a big short from the big boys...Just my hunch...

Tue, 11/08/2011 - 15:25 | Link to Comment 10044
10044's picture

Just an excuse to let 1800 calls on gold expire worthless next week, f'ing pathetic

Tue, 11/08/2011 - 15:26 | Link to Comment JPM Hater001
JPM Hater001's picture

Does this mean Goat Balls will go on sale soon?

Tired of paying full price.

Tue, 11/08/2011 - 15:28 | Link to Comment lotusblue
lotusblue's picture

Bunga man,G-Pap....Putin brothers.Democracy is over.Align with oligarch.

Tue, 11/08/2011 - 15:31 | Link to Comment TradingJoe
TradingJoe's picture

Minghia, Don Silvio! Ma comme? Addesso si e poi no?!?! Mamma Mia!!!

Tue, 11/08/2011 - 15:43 | Link to Comment The Count
The Count's picture

 

...all the while the goons over at CNBC make fools of themselves (what else is new) talking about a Berlusconi pop... hmmm, a 'pop' of 50 or so points... it must hurt being forced to work at that place.

 

Tue, 11/08/2011 - 15:47 | Link to Comment common_sense
common_sense's picture

BERLUSKKO'S FACEBOOK UPDATE:  "I'm very happy; Bunga-Bunga is the best invention I ever made... thanks to all my girlfriends".

Tue, 11/08/2011 - 15:55 | Link to Comment NotApplicable
NotApplicable's picture

Kudos to the "Blow Jobs" creator.

Tue, 11/08/2011 - 16:01 | Link to Comment JPM Hater001
JPM Hater001's picture

Is it me or does it feel like a club is starting to form?

Tue, 11/08/2011 - 16:01 | Link to Comment Market Efficien...
Market Efficiency Romantic's picture

Wonder, what influence his immunity and threat of imprisonment is having on his decision to step down and how in the world the new government will argue for his not being sentenced.

Tue, 11/08/2011 - 16:12 | Link to Comment lunar
lunar's picture

....don't you think this picture is out of decency ? ....or does no one realize?

Tue, 11/08/2011 - 16:42 | Link to Comment Silver Shield
Silver Shield's picture

Thanks for the LOL

Tue, 11/08/2011 - 17:19 | Link to Comment SHEEPFUKKER
SHEEPFUKKER's picture

Italian prime minister resigns. Italian 10yr yields surging.  Problem solved.  Next.

Tue, 11/08/2011 - 19:43 | Link to Comment JenkinsLane
JenkinsLane's picture

Good to see the child catcher looking well.

Thu, 11/10/2011 - 23:43 | Link to Comment hazeL
hazeL's picture

Knowing the report (Silvio Berlusconi resigning as Prime Minister of Italy) isn't a surprise anymore for most indivdiuals. In fact, some are thankful for the step made by the Prime Minister considering the fact that his 3rd term as Prime Minister of Italy has been tangled up with scandal. Berlusconi has been one of the most controversial figures in world politics for some time. He has faced accusations of corruption, narrowly survived votes of no confidence and earlier this year, according to the Guardian, was put on trial for criminal charges. He was alleged to have had sexual encounters with an underage prostitute named “Ruby the Heart Stealer,” among many other allegations concerning his personal life. Austerity measures were passed earlier this year including reducing public benefits, raising the retirement age from 65 to 67 and tax hikes, but the European Central Bank, among other creditors, feels they weren’t effective enough. According to the Los Angeles Times, it isn’t known what the further austerity measures will entail or when they will be presented. Berlusconi has now lost support in the government and finally decided to resign.

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