Thursday, June 9, 2016

Don Quijones — Next Banking Scandal Explodes in Spain

Wealth redistribution in progress.
Wolf Street
Next Banking Scandal Explodes in Spain
Don Quijones

1 comment:

Ralph Musgrave said...

That Wolf Street article deals with the fact that Spanish banks are employing a trick used by Barclays Bank a few years ago, namely creating money out of thin air and lending to people on condition they buy shares in the relevant bank.

I argued yesterday on my blog that there was nothing wrong with that. But having slept on the problem, I now think that fake bank capital is not acceptable. See respectively: