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How JPMorgan could not save Italy's 'problem child' bank

That Monte dei Paschi laid its entire trust in JPMorgan and a plan that regulators said was destined for failure, underscores the government's mismanagement of it all

JPMorgan's plan ended in failure in the early hours of Friday when the Tuscan lender said it could not find enough investors and asked the government to bail it out.


ON THE morning of July 29, former Italian Industry Minister Corrado Passera was travelling in a high-speed train towards the medieval city of Siena, racing to meet the directors of the world's oldest bank to present them with a rescue plan.

Monte dei Paschi di Siena, Italy's...

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