What pisses me off is that most of these problems could be sort of solved if the banks lowered their valuations. Instead they are amongst themselves trying to screw Spains people over. Why not let ordinary people have the possibility to buy property at 50-65% valuations? That would be bad for the banks but instead they can sell large portfolios amongst themselves for lower valuations.
What CAM have done is just a huge scam and it’s incredible that none is bringing it up. I had friends that worked there that basicly was told to shut up or else they could find a new jobs when they started asking questions of why they made these trades. Other banks traded their bad stocks of properties “people that are late on payments etc” in exchange for good stocks from CAM. CAM was setup to fail and let the tax payers take the damage. Not surprisingly you will see the big guns at CAM getting new jobs over at rivaling banks.