Spanish bank downgrades

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    • #55062
      Anonymous
      Participant

      Quite a number of reports on this today:

      http://www.ft.com/cms/s/0/08b858e6-457b-11de-b6c8-00144feabdc0.html

      http://online.wsj.com/article/BT-CO-20090615-711294.html

      Key issue are mortgage defaults and other bad loans in the Spanish marketplace.

      It is only going to get worse.

      Santander is one of only two Spanish banks to escape a downgrade.

      Andy

    • #92648
      rt21
      Participant

      It’s interesting to note that Caja Madrid and Santander have lent Real Madrid 150 million euros for their transfer policy

      I think it’s time my wife and I reviewed our savings accounts with Santander’s subsiduaries, Abbey National and Alliance & Leicester, before we catch a cold.

      Richard

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