Bankia Gets 'Pre-Bailout' Bailout "Immediately" As Bad Loans Jump 44%

Tyler Durden's picture

With Spain's new-found belief in its own incompetence omnipotence, they are now throwing bad money after bad in advance of the European bailout by pre-bailing out (bridge recap?) Bankia via the FROB (and it seems like they are in a hurry):


which makes sense given that:

  • *BANKIA GROUP BAD LOANS RATIO 11% IN JUNE VS 7.63% IN DEC. (a 44% rise!!)

The bottomless pit will all be 'fixed' though by October (just like Dexia was?)


and just as jawboning helps:


Sublime to ridiculous... Is this just another move in the negotiation as now Spain has 'more' vested interest and therefore 'more' mutual destructive power if a banking union or mutualized benefit is not realized...

The Tragedy of the Euros - he who "prints most, deficit spends most, crashes" first wins...

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Let The Wurlitzer Play's picture

To support Bankia and the Euro I personally will purchase an undisclosed and possibly unlimited amout of their debt.


fireangelmaverick's picture


Like a push-up Bra?

slewie the pi-rat's picture

"they" need to re-capitalize this mess for "thePlan":>

instead of a "bad" bank "they" are gonna go for LGBT management and hope for the reach-around-turn-around capert-munching miracle of moBail

Mark Carney's picture

Really understand how RBC could have completely bouightt Dexias securities division.......stupid is as stupid does.

resurger's picture

You get free towel sir,

once you check in, you cant check out.

LongSoupLine's picture

I will back Spain tonight by making sangrias and counting my silver.

FL_Conservative's picture

Tell them to first make sure they set aside the money they need to contribute to the ESM so it can go operational.  <\sarc>

ToNYC's picture

I can get their debt at a discount and deliver via the Colorado river as it flows into Mexico City. I can alternately pay you over there by that Dark Star who fell in the Dark Pool having lost his balance tripping over his bazooka.

DoChenRollingBearing's picture

We are going to Italy very soon.  Just keep it together guys, just another few weeks...  Then let 'er rip.

Europe looks to go down first.  Our turn will come soon enough.

Bam_Man's picture

Me too. I'm going to Tuscany for the grape harvest at the end of September. I'm hoping that they can hold things together with more non-stop bullshit until I get back.

withnmeans's picture

If you have never been to Italy watch out for the beggars "and thieves", although I never had a problem with the thieves myself. Oh yes, the beautiful architecture, fields, the smells of the country side, however if you have travelled there recently their railway system is a total disaster, infrastructure is in bad shape, and the people just look beat down.

Otherwise have fun, drink some Chianti for me, best to rent a car if you plan to travel around. Love the country "and the old world people", just be aware.

Truthfully I would of thought Italy would have collapsed before Spain started to.

Anyway, Cheers

SwingForce's picture

Quick, need antidote, too much bullshit....ahhh, just read Mark Grant's latest. I feel better now.

PontifexMaximus's picture

Seems that problems can be solved by making comments. Well done. Who is paying me telling rubbish??

Oh regional Indian's picture

It's finally starting to rain.

In Spain.

By the way, how many people knew that Al Gores Fund Manager is a guy by the name of Jack Blood?

Blood and Gore?

Crazy, eh?



resurger's picture

fucking Epic roi, where can i sign the investment plan application!!

Oh regional Indian's picture

:-) Epic freudian slip right there too by you resurger! 


Didn&#039;t build that's picture

they didn't build that...

bagehot99's picture

What are they offering as collateral while their loan books truns to confetti? The office furniture?

mckee's picture

I must have taken the wrong fk'n pill this morning

Cult of Criminality's picture

Didnt build that

The Freemasons did

JUMP ...........Van Halen

resurger's picture

Just fill that bottomeless pit with towels

slewie the pi-rat's picture

how is cotton doing, return-on-investment-wize this year?

Cotton #2 Weekly Commodity Futures Price Chart

can you find the place in time on this chart when S&P downgraded all US debt? 

can you find WHEN "operation twist" begins?

are you sure you have been given all the info about the "effects" of zirp?  what "else" do you see?   paper towels?  real towels? 

cotton is grown where?  are there geo-politics involved? a shortage of cotton?  a shortage of paper?  a shortage of bullshit? 

even spidey-towels come from the sun

so i hope yer "abyss" doesn't leave you all wet from over-exerting yourself with your your friends from the drama school today...

TonyCoitus's picture

toga, Toga, TOga, TOGa, TOGA!!!!!!!!!!!!!!!!


Dr. Engali's picture

What I don't get is why there is anybody besides the robots left in these markets at all.

surf0766's picture

Most are babyboomers who still haven't figure out they have been taken to the cleaners and still believe they will not have to work again.



slewie the pi-rat's picture

our kids own a LOT already too ya know!

stocks, PMs, artwork, toys, music, nice cash flows from pretending to work;  RE, rental properties; time-shares too?

and our grandchildren?

ask us about our honorStudents at pre-school

go ahead punks!  make our day!

how old are the parents of you toy-boys?

my dad is almost 100

and he's doing great too!

thank you fuking losers soooo much for asking, too!   L0L!!!

look at the lineup of people who can't think straight here today!

must be time to pretend everybody should shit their diapers in fear again?  Hahahaha!  what a buncha ingnorant fuking losers!

Cognitive Dissonance's picture

This is just a shot of Novocain to dull the pain until the fiat IV can be set up. Can't have the patient die before you kill him by lethal injection....right? 

Cult of Criminality's picture

Dr Engali

It is other peoples pension funds.

No loss to the people that do not actually own the funds.

You know segregated funds ,rehypothecated funds,stolen funds.

robots do not care.Any humans not in the club yes,that would be strange.

JohnKozac's picture

Bad loans AND Banker Bonuses about to jump 44%.


What a world!

madcows's picture

If I had a mortgage in Spain, I think I'd stop paying too.

cebri88's picture

4.4 billion ¡¡¡ 

Let it FAIL ¡