Posted on 02/18/2017 1:15:08 PM PST by ameribbean expat
Rarely heard in association with senior central bankers are words or expressions like “accused”, “charged” or “under investigation.” But in Spain this week a court broke with that tradition, in emphatic style.
As part of the epic, multi-year criminal investigation into the doomed IPO of Spain’s frankenbank Bankia – which had been assembled from the festering corpses of seven already defunct saving banks – Spain’s national court called to testify six current and former directors of the Bank of Spain, including its former governor, Miguel Ángel Fernández Ordóñez, and its former deputy governor (and current head of the Bank of International Settlements’ Financial Stability Institute), Fernando Restoy. It also summoned for questioning Julio Segura, the former president of Spain’s financial markets regulator, the CNMV (the Spanish equivalent of the SEC in the US).
(Excerpt) Read more at wolfstreet.com ...
The Powers That Be use global financial crises to manipulate things when necessary.
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Lots of hemming and hawing, but no substance.
The Icelandic Model at play here?
“Lots of hemming and hawing, but no substance.”
I like that. Would be a fitting epitaph for our Clickbait Era.
BIS is the mothership of banks.
This might not end well, even for the USA markets...
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