Italian Banks Recover and Lead FTSE MIB to a 3.8% Gain

Italian banks are recovering from yesterday’s pullback. Apparently, the bad bank idea, the $5.7 billion fund to buy up Italy’s toxic assets, is holding a little more heft with investors today, as Unicredit surges by 9% and the overall Italian market is up nearly 4%.

Bailouts are terrific. Banca Monte del Paschi leads the way higher. Those fuckers have been around since the Christoper Columbus days.