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Mikhail Liebenstein

Spain Looking To Force Savings Banks To List

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Spain looking to force savings banks to list


And I thought Spanish Banks were already listing :ph34r:

I presume this is some method of getting funds released from floatations to shore up the system, whilst giving the GIant Squid a nice fat fee.

Its a bit like Council's being forced to buy up their own housing stock from the Government. It all financial fraud and window dressing.

Edited by Mikhail Liebenstein

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MMutual’s like Cajas were once safe and secure with good risk management. They are similar to the old UK building societies. However loose regulation and reckless lending to support a Property Bubble lead them all to the brink of Collapse. The Spanish Government cannot bail them out. They have tried turning to the Banks to buy them up but now the reality has hit that the banks are in just as bad shape. Net result is that the only option is to sell them to shareholders. However the funds from the new shareholders should go to the Cajas owners i.e. the Savers and Lenders of that Cajas. If they do this they do not raise any money from the sale. However they now move the funding issues to the shareholders for Rights Issues and share placements. The Government puts it back on the general public.

Of course the problem is that the Spanish sheeple who are too thick to see the outcome of buying in, who would normally queue up for shares are unemployed or suffering from a burdening debt mountain.

So who will buy these Cajas......where will the money come from? Not Spain, Not UK, Not France, Not Portugal, Not Greece.....Not the USA. No the only buyers will be the Chinese as they buy up the European banking system.

Either way this is not the right solution....but I doubt there are many options left.


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