Bank bailouts are alive and well, with investors in Italy's Monte dei Paschi approving the sale...

|By:, SA News Editor

Bank bailouts are alive and well, with investors in Italy's Monte dei Paschi approving the sale of several non-strategic stakes to raise capital, thus qualifying it for a €3.9B rescue from the Bank of Italy. The bank faces major losses from derivative trades that happened under the nose of then top-regulator Mario Draghi. "Stupefying," that Draghi failed to prevent this, says former finmin Tremonti.