Query is basically as the title suggests. With the recent news, does this make the bank a safe haven for your money?

In this environment, keep the depost to below £35,000.

I'm no analyst but as a 'dumb friend', I would question the logic of spains biggest bank (the whole credit crunch mess is based on housing inflation induced by easy credit and spains GDP is 10% directly related to house building) going on a spending spree for large UK morgage provider who relies on wholesale markets for plenty of it's finance. It sounds like the same stratgy adopted by the fools over at Bradford and Bingley when they tried increasing market share when everybody else was selectivly dumping customers.

FH