Italy Moves to Curb Short-selling Against its Banks

Today, in a move akin to erecting a 3-foot high fence around an injured zebra to keep the lions from eating the vulnerable equid, Italy has added new disclosure rules for short-sellers.  Meanwhile, the Euro-zone contemplates a restriction on credit default swap trading on sovereign debt.  Both ideas may sound good in the halls of academia or Parliament, but there is this thing about lions…  if they can’t find the gate, they’ll simply jump the fence.