Bank Of Spain Nationalizes Banco De Valencia

Tyler Durden's picture

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silver500's picture

Quick, before the new goverment forms.

Restitutor Orbis's picture

"Here comes the new boss, same as the old boss"

BaBaBouy's picture

Game On...

Looks like World Fin System Takedown is on...

scatterbrains's picture

"BANK OF SPAIN REMOVES BANCO DE VALENCIA MANAGEMENT"

                         How rude!

Restitutor Orbis's picture

Rude, but what makes the Bank of Spain think they can do a better job...

NotApplicable's picture

Somebody has to be the fall-guy of last resort. Otherwise, there would be no 'confidence' in the system.

Financial_Guardian_Angel's picture

It starts with a trickle. It ends with a torrent.

But when will the big wave come that wipes everything clean?

Buehler, Buehler?

silver500's picture

The market is down, the ECB rumours start:

"The prospect of another cut in the European Central Bank's policy interest rate appeared to increase Monday, with council member Ewald Nowotny telling reporters that "anything is conceivable" in the face of a dramatic economic slowdown and increasing financial stress."

EscapeKey's picture

“I’m really worried about the small- and medium-sized banks whose business is 100 percent in Spain and based on real- estate growth,” Pablo Cantos, managing partner of Madrid-based MaC Group, said in an interview. “I foresee Spain will be left with just four large banks.

http://mobile.bloomberg.com/news/2011-11-17/spain-s-unsellable-real-esta...

john39's picture

always the plan... collapse what is left of the "real" economy... and centralize banking and government into ever few hands.  all hail the NWO.  fight now, or 1984 is reality.

BandGap's picture

I guess they took the bull by the horns. Ole!

Shit, so much bad news coming out that it is hard to track all of it, so why bother!  When to the civilians start the run on the banks?

Desert Irish's picture

Patience grasshopper....patience...

Caviar Emptor's picture

Look for lots more nationalization in the coming days. It's the only viable alternative to recapitalizing when there ain't the money to recapitalize with. Sometimes nuclear waste simply has to "disapear"

Dapper Dan's picture

Greatest Fear

By BlacknessRose ...

My greatest fear is losing my family
My greatest fear is losing my friends
My greatest fear is reading a book
And not knowing how it ends

My greatest fear is heights
My greatest fear is clowns
My greatest fear is dark nights
And eerie, strange sounds

My greatest fear is the future
My greatest fear is the past
My greatest fear is yet to come
And is coming in fast

vegas's picture

Indeed, SHTF.

Anybody know if Stolper is getting ready to make another LONG eurusd call?

 

 

http://vegasxau.blogspot.com

Caviar Emptor's picture

Suddenly, in just one day, the unholy alliance that would bail out the world has crumbled

Dick Darlington's picture

I encourage everyone interested to take a look at that spanish bank bail out vehicle FROB, also known as tax payer rape fund. So little equity, so much leverage...