Bankia No Longer Throwing In The Towel

Tyler Durden's picture

Yesterday's post of the day was the revelation that nationalized Bankia was throwing in the proverbial (free, Spiderman-embossed) towel with every €300 deposit account. To anyone who managed to take advantage of this once in a lifetime offer (the other one of course being Goldman's trade reco to buy stocks and short bonds from March 21, which as noted yesterday has lost 29% in two months): as of today, the offer has been pulled. Did the bank run out of towels? Was it embarrassed at exposing its dirty linen? Or did the bank have to pledge all remaining towels as its only remaining collateral at the ECB for tens of billions in €s? Sadly, we will likely never know.