Italy tasks JPMorgan with €50B bank bailout

• The Italian government is working on plans to set up a €50B bad bank bailout, sources told the Sunday Telegraph.
• The scheme, which is being put together by JPMorgan (NYSE:JPM), could help clean up the nation's stricken lenders, but also puts the country on a collision course with the EU, which does not want taxpayers bailing out banks before private investors take a hit.