Banco Popular Blows Up - Santander Buys Remains For €1

YouKnowWhatIMeanLike

Well-known member
Joined
Apr 13, 2011
Messages
7,173
After Banco Popular burned through €4bn in emergency funds in less than 24 hours the Spanish central bank has pulled the plug on the failed financial institution. Banco Popular is now gone and its investors took a hammering of epic proportions. Let this be a lesson to the remaining institutions that they aren't anywhere near fixed at this point.

https://www.ft.com/content/6f32eca2-4c62-11e7-a3f4-c742b9791d43

more worrying is the assessment of Banco Popular by the ECB less than a year ago along with its grave verdict for other similarly ranked banks by the EBA.

https://www.eba.europa.eu/documents/10180/1532819/2016-EU-wide-stress-test-Results.pdf
 
Last edited:


Mad as Fish

Well-known member
Joined
Dec 6, 2012
Messages
24,185
After Banco Popular burned through €4bn in emergency funds by tuesday in less than 24 hours the Spanish central bank pulled the plug on the failed financial institution. Banco Popular is now gone and its investors took a hammering of epic proportions. Let this be a lesson to the remaining institutions that they aren't anywhere near fixed at this point.

https://www.ft.com/content/6f32eca2-4c62-11e7-a3f4-c742b9791d43

more worrying is the assessment of Banco Popular by the ECB less than a year ago along with its grave verdict for other similarly ranked banks by the EBA.

https://www.eba.europa.eu/documents/10180/1532819/2016-EU-wide-stress-test-Results.pdf
One link behind a paywall and the other lost amongst a lengthy document. Any chance you could tease out a few more nuggets?

Anyway, good to see that the banks and their investors are vulnerable after all, too late for Ireland of course, unless we can sue the EU for reparations, something of a dream I know.
 

Congalltee

Well-known member
Joined
Nov 10, 2009
Messages
6,124
Is it a good time to offload 25% of AIB? Will the government have to have to
undervalue the share price plus ( no taxes on profits plus no riffraffs buying without €10k) to attract investers?
 

YouKnowWhatIMeanLike

Well-known member
Joined
Apr 13, 2011
Messages
7,173
One link behind a paywall and the other lost amongst a lengthy document. Any chance you could tease out a few more nuggets?

Anyway, good to see that the banks and their investors are vulnerable after all, too late for Ireland of course, unless we can sue the EU for reparations, something of a dream I know.
this was just a plain textbook style bank run on a failed financial institution. it's just sick that they took a predatory approach on new costumers in the last couple of months targeting the small fry again.

who do you want to sue? Minister lendahand for throwing out letters of comfort like confetti on drag queen show?
 
Last edited:


New Threads

Most Replies

Top