Beware of robber banks (RB), bad advisors. ![](https://resources.faireconomy.media/images/emojis/64/1f609.png?v=15.1)
![](https://resources.faireconomy.media/images/emojis/64/1f609.png?v=15.1)
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The price of the government bailout of Monte dei Paschi, Italy's oldest bank, went up from €5 billion to €6.5 billion euros ($6.8 billion) this week. That happened after the European Central Bank discovered that MPS's capital shortfall was €8.8 billion, and not the expected €5 billion euros. There has been a "rapid deterioration" in MPS's outlook, according to the Financial Times. The government has so far allocated €20 billion to bail out all its banks — which are riddled with non-performing loans — but the actual amount the system may need to avoid collapse is probably nearer €52 billion, according ... (full story)