Posted on 07/23/2010 4:11:48 AM PDT by blam
Rumors Flying That Some Spanish Banks May Have Failed The Stress Test
Joe Weisenthal
Jul. 23, 2010, 5:30 AM
We're going to get several of these reports in the next few hours.
This one focuses on Spain, specifically the Cajas -- the regional, non-listed savings banks -- that have been the subject of so much attention.
El Pais, via Dealbook, reports that a number will have failed under the scenario of a worsening economy.
Remember, it's all about the various scenarios: a worsening economy is just one. Others may include the possibility of a sovereign default.
In fact, moreso than the specific banks that fail, the thinking is that the whole thing can fail if the stress tests are deemed to be too opaque, with little data given regarding how they were performed, and what scenarios were being taken into
(Excerpt) Read more at businessinsider.com ...
Wonder why:
http://www.freerepublic.com/focus/f-news/2451245/posts
Spain curbs ‘millionaire’ pay for air traffic controllers (incredible salaries)
According to figures released by the transport ministry last week, 135 controllers earned more than 600,000 euros (830,000 US dollars) per year while 713 earned between 360,000 and 540,000 euros.
By comparison Prime Minister Jose Luis Rodriguez Zapatero earns just under 92,000 euros a year while the average salary in Spain is just over 18,000 euros per year, according to government figures.
In addition, the controllers can retire at the age of 52.
(Excerpt) Read more at breitbart.com ...
Incredible. The Fall of the West.
And, at age 52, if they make nearly a MILLION DOLLARS a year while they are working, then retire, don’t they get about $30,000,000 in retirement pay, if they live long enough??? Total of $30,000,000 each + salaries??? What country could ever support this?
Oh yeah: Spain, US, UAW, Obama, SEIU, they all want to try!!!
Ximinez: So you think you are strong because you can survive the soft cushions. Well, we shall see. Biggles! Put her in the Comfy Chair!
So what? This means nothing in the present economic paradigm. Literally.
Must be one BAS treadmill....
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