Tag Archives: Spain Plans To Merge All Nationalized Banks Into Gigantic Bad Bank; Merging Small Cesspools Creates Bigger Deeper Smellier Cesspools

Mish/ Mike Shedlock – Spain Plans To Merge All Nationalized Banks Into Gigantic Bad Bank; Merging Small Cesspools Creates Bigger Deeper, Smellier Cesspools – 24 May 2012

After repeated denials of the creation of a combined “bad bank”, Spain’s economy minister Luis de Guindos is discussing creation a public body merging all the smaller bad banks into one gigantic bad bank, equivalent to 20% of the entire Spanish banking sector.

Courtesy of Google Translate from Libre Mercado, please consider large public bank under state control. Continue reading