Bankia Shares are suspended in Madrid

Bankia Shares are suspended in Madrid

www.bbc.co.uk

Trading in shares in the Spanish lender Bankia have been suspended in Madrid.

The market regulator CNMV said it was "due to circumstances that may affect the normal share trading".

Bankia is reported to be due to ask the government for a bailout of more than 15bn euros ($19bn; £12bn) after a board meeting later on Friday.

(visit the link for the full news article)

Oh oh! This is how it all began in 2008, is Spain about to fold? I confess to not being any kind of authority on the financial crisis, but if Bankia risks collapsing this may result on a run on the banks, followed by........?

Hope they sort it out, but the Euro Zone seems to have an air of inevitability with regards to complete meltdown.

I hope I am wrong! Keep your eye on the markets today.

CC

www.bbc.co.uk
(visit the link for the full news article)

Before the People of Spain, through its elected representatives of the gov, bailout those banks, do consider:-

1. Banks are private capitalist enterprises. They had been ENTRUSTED to protect depositors fund. The gov has no say or even allowed to regulate/check on them. Today, they had ran out of money. WHAT happened???

They alone are solely responsible for this breech of trust, being a private enterprise, and deserve to have their balls strung up and have their assets seized to pay back depositors, and work harder as employees to pay off creditors.

They were the first whom always claimed that the masses should not spend beyond their means, and must pay back every dime if they default. Worse, the German bi*ch Leader had arrogantly claimed that no one should spend beyond their means just a few days ago.

So why now is Bankia asking for handouts? Have they no shame, no conscience and no responsibility for their unbalance and unwise loans? No one had force them at gunpoint to make reckless loans or gamble on the casiono stock exchange which resulted in their losses.


2. Thus, is it fair for the Spainish People to use their hard earned funds meant for social expenditure, to bail out banks when they alone are responsible for the reckless management of banks? Worse when 'austerity' had already been demanded by the same german bi*ch leader, when those funds could have help save the People with monetary circulation to bootst growth?

USA under the moron bush had fooled americans into bailing out the banks and what happened then? Bankers celebrated with champagne and cavier, gave out huge bonues, throw lavish parties and practically lived up life while fellow american masses lived in tents!

Is this how the largely innocent Spanish and EU People want it to happen to them?

All biz comes with risk. This is something all humans understand., including the middle classes and pensioner depositors. The capitalist contract stands and must be honoured. The bankers are responsible. It is their price to pay, not the People. There are other compassionate ways to help those affected by the banks' irresponsiblities, but bailing out bankers IS NOT the solution as the American experience had proven.

I wish my fellow human brother and sisters in Spain and EU all the best. Take care.

Yes I spotted something like this was happening several hours ago

www.abovetopsecret.com...


Basically this is the start of the end for Europe and the USA. The DOW is the only market open who are closely linked with Spain and it is in complete freefall right now. Looks like Europe will be dragging the USA down with them.