Spain Court to Probe Bankia on Events Leading to Bank Rescue
04 July 2012 @ 22:40
A Spanish judge will investigate the Bankia (BKIA) group and its former Chairman Rodrigo Rato after the lender needed a record government bailout.
Fernando Andreu, a judge at the National Court in Madrid, agreed to investigate a complaint made by Union, Progreso y Democracia, a left-wing party, over allegations including deception, false accounting and fraudulent administration, according to a ruling distributed by the court today. The judge will probe Bankia, its parent and 33 board members including the 63-year-old Rato.
The judge will look into the initial public offering of Bankia SA in July of last year, the restatement of its earnings that turned up 2.79 billion euros ($3.5 billion) of losses, and Spain’s takeover and rescue of the Bankia group with 23.5 billion euros of state support. Spain nationalized the parent company last week after experts appointed by the country’s bank rescue fund said it had a negative value of 13.6 billion euros.
Read the full article at Bloomberg BusinessWeek
midasgold said:
07 July 2012 @ 09:53
Bankia was formed from 6 caja savings banks who had 30 billion
of DEBT and were about to go broke.This 30 billion was then put on Bankia s books as a 30 billion ASSET. - Voodoo economics ! Bankers live on a different planet !
midasgold said:
07 July 2012 @ 09:54
Bankia was formed from 6 caja savings banks who had 30 billion
of DEBT and were about to go broke.This 30 billion was then put on Bankia s books as a 30 billion ASSET. - Voodoo economics ! Bankers live on a different planet !
como tu quieres said:
10 July 2012 @ 00:57
voodoo economics and now voodoo statements :- Ask for a statement of account and you receive an income & expense or more like receipts & payments details printed on a fish&chips wrapping paper with details such as
Saldo anterior ....
cargo Compra ...
recibo de telefono .....
Pagoen efectivo ....
Recibo de Agua ...
Recibo luz ...
I had to make an appointment to se the BM who confirmed "use internet account to download further details ...and sign 3million pages of all terms & conditions internet account. My response was "I prefer to change the bank" so he disappeared and reappeared with a huge canvas bag and said "I have something for you."No thank you, I do not have that much cash to fill this humungous bag and I don't need a bag I just want a detailed normal Legal Statement of my account!!" The bag is also too big to fit in Ryanair's hand luggage cage so you can't tempt me." Will see what we can do ...3 months have passed so i guess it's time to seek a good honest loyal Spanish bank "HELP""Socorrrrrrrroooooo. Bank,telefonica,aguahest,Iberdrola, Bankia, padron, all will be under the thousands of Beijing Bazaars (Shops in every corner)soon with 24 hours service. So just have to wait.....such is life in España. One thing is for sure the sun will keep shining on all those new generation of Prisoners...Bankers,Mayors, lawyers,+Top ten Builders Etc;Etc;etc...Except the footbolistas:)
como tu quieres said:
10 July 2012 @ 01:17
voodoo economics and now voodoo statements :- Ask for a statement of account and you receive an income & expense or more like receipts & payments details printed on a fish&chips wrapping paper with details such as
Saldo anterior ....
cargo Compra ...
recibo de telefono .....
Pagoen efectivo ....
Recibo de Agua ...
Recibo luz ...
I had to make an appointment to se the BM who confirmed "use internet account to download further details ...and sign 3million pages of all terms & conditions internet account. My response was "I prefer to change the bank" so he disappeared and reappeared with a huge canvas bag and said "I have something for you."No thank you, I do not have that much cash to fill this humungous bag and I don't need a bag I just want a detailed normal Legal Statement of my account!!" The bag is also too big to fit in Ryanair's hand luggage cage so you can't tempt me." Will see what we can do ...3 months have passed so i guess it's time to seek a good honest loyal Spanish bank "HELP""Socorrrrrrrroooooo. Bank,telefonica,aguahest,Iberdrola, Bankia, padron, all will be under the thousands of Beijing Bazaars (Shops in every corner)soon with 24 hours service. So just have to wait.....such is life in España. One thing is for sure the sun will keep shining on all those new generation of Prisoners...Bankers,Mayors, lawyers,+Top ten Builders Etc;Etc;etc...Except the footbolistas:)
Bankia said:
15 July 2012 @ 10:38
“We are pleased to announce our new, easy to use and improved cutting-edge technology leverages innovative, robust and high-performance outcomes while uniquely positioning us to focus on world-class partnerships. Next generation outcomes are easily scalable and flexible up to 120 percent.”
Jan said:
23 July 2012 @ 11:36
What I don't understand is that I can transfer money from my credit card to my current account in Bankia but am unable to transfer money the other way round! To do that I have to go into the branch as I can't even do it on the phone!
Is that easy? Is it ridiculous? I love Spain but sorry your admin leaves a lot to be desired.
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