The worse thing about all this whiich isn’t mentioned in the article is that many shareholders didn’t know they were buying them. Anyone who has banked in Spain will have had the bank pushing them to buy investment bonds, sign up for a year and your money will be invested in a basket of shares such as telefonica blah, blah. Bankia did the same…except they were economical with the truth. Bankia just used the customers money to buy…you’ve guessed! Bankia shares. So, many ordinary spanish have found themselves owning a few thousand worthless shares.