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Spain's Bad Banks
Keywords:
This Journal editorial says the Bankia bailout continues to be handled poorly by the Spanish government, with Bankia continuing to be a drain on the government funds.
Rules for banking system cleanup from editors of WSJ and experts that were broken in 2008-2012
06/01/2012
Rule 1 of government not taking on debts of banks was broken in Ireland. Rule 2 of banks not delaying cleanup was broken in Spain with Bankia, and by the EU, Germany and France for troubled countries, increasing the cost of cleanup. Rule 4 for setting up a banking regulator first before injecting funds into troubled banks, was broken by the EU, EFSF, Germany and France for troubled countries. Rule 5 of merging failed banks into other banks creating even bigger "too big to fail banks," was broken in the U.S.
Grouped Articles
Wall Street Journal 06/01/2012
Wall Street Journal 09/03/2012
A detailed account of the unfolding crisis at Bankia bank in Spain during 2011-2014
04/01/2009
An account of the key players and the ufolding of critical events in the IPO offering for Bankia, and the unraveling of the bank in the months that followed, as the Spanish regulators and government failed to get a handle on problems and instead put their hope on an improving economy. On May 3, Mario Draghi warned about the problems at Bankia in Barcelona. On May 4, the heads of Spain's largest banks BBVA, Banco Santander and Caixa, told the government it had to takeover Bankia, setting in process the events leading upto the acceptance of $125 billion in EU aid to recapitalize Spain's banking system. Bankia was put together from seven failing cajas savings banks. The problems related to the housing bubble are seen throughout the cajas savings banks.
Grouped Articles
Spanish Banks More Vulnerable Than Italy's
Wall Street Journal 07/13/2011
Investors in Bankia to Sue Bank of Spain Over Losses
New York Times 05/09/2013
Wall Street Journal 09/28/2011
The Pain in Spain Falls Mainly on the Cajas
BusinessWeek 02/25/2010
Economist 05/29/2010
Spain's Bankia Returns to Profit
Wall Street Journal 02/04/2014
Initial public offering planned for Spain's Bankia bank
03/11/2011
Efforts to recapitalize Spain's savings banks.
Grouped Articles
Spanish Banks More Vulnerable Than Italy's
Wall Street Journal 07/13/2011
Investors in Bankia to Sue Bank of Spain Over Losses
New York Times 05/09/2013
Spain's Bankia Returns to Profit
Wall Street Journal 02/04/2014
Spain Launches Privatization of Bankia
Wall Street Journal 02/28/2014
A Former IMF Leader Tackles IPO Challenge
Wall Street Journal 06/08/2011
In Spanish, Bankia Starts Wooing IPO Investors
Wall Street Journal 07/01/2011
Spain's banking officials, lack of prudent oversight over the banks and bad loans from the real estate bubble
02/22/2011
Jaime Caruana, Rodrigo Rato and Vinals are senior Spanish banking officials who worked for the central bank and at the IMF. Caruana is head of the Bank of International Settlements in Bases (BIS), and Vinal heads a department at the IMF. Rato resigned from Bankia bank after its takeover by the government. Experts say they failed to exercize proper oversight of Spain's banking system and in their positions at the IMF failed to draw early attention to the problems.
Grouped Articles
Investors in Bankia to Sue Bank of Spain Over Losses
New York Times 05/09/2013
Wall Street Journal 09/28/2011
Spain's Bankia Returns to Profit
Wall Street Journal 02/04/2014
Rodrigo Rato Resigns as Executive Chairman of Bankia
New York Times 05/07/2012
Spanish Officials Hailed Banks as the Crisis Built
New York Times 06/26/2012
Spanish Woes Cast Rescue in New Light
Wall Street Journal 06/20/2012
Efforts in Spain to compensate the 700,000 depositors who bought preferred shares in Bankia and other regional banks
07/01/2011
Grouped Articles
Investors in Bankia to Sue Bank of Spain Over Losses
New York Times 05/09/2013
Spain's Bankia Returns to Profit
Wall Street Journal 02/04/2014
Rodrigo Rato Resigns as Executive Chairman of Bankia
New York Times 05/07/2012
Wall Street Journal 09/03/2012
Spain Sets Plan to Compensate Savers Who Bought Bank Shares
Wall Street Journal 01/30/2013
Wall Street Journal 03/01/2013
Bankia management
07/01/2011
Grouped Articles
Investors in Bankia to Sue Bank of Spain Over Losses
New York Times 05/09/2013
Spain's Bankia Returns to Profit
Wall Street Journal 02/04/2014
Rodrigo Rato Resigns as Executive Chairman of Bankia
New York Times 05/07/2012
Spain Readies New Push to Shore Up Banks
Wall Street Journal 05/08/2012
Spain Tries to Calm Fears About Ailing Lender
New York Times 05/17/2012
Europeâs Worst Fear: Spain and Greece Spiral Down Together
New York Times 05/20/2012
Spain's Bankia bank
10/02/2010
The consolidation of a number of Spanish savings banks under government direction led to the creation of Bankia, Spain's third largest bank. Efforts to recapitalize these banks which have large accumulated large debt from the real estate boom is part of the Spanish government's effort to tackle the debt crisis facing Spain. Rodrigo Rato, a former finance minister and managing director of the IMF, heads Bankia and the effort to restore confidence in Spain's banking system.
Grouped Articles
Spanish Banks More Vulnerable Than Italy's
Wall Street Journal 07/13/2011
Investors in Bankia to Sue Bank of Spain Over Losses
New York Times 05/09/2013
Spain's banks: Two cheers, three tiers
Economist 10/02/2010
Spain's Bankia Returns to Profit
Wall Street Journal 02/04/2014
Spain Launches Privatization of Bankia
Wall Street Journal 02/28/2014
A Former IMF Leader Tackles IPO Challenge
Wall Street Journal 06/08/2011
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