Spain’s anti-bank majority is celebrating a major victory after the country’s high court opened a criminal investigation into Rodrigo Rato, the former head of Spain’s biggest mortgage lender, Bankia. Rato, once a big wheel within the IMF, has been given a court date to face criminal fraud accusations relating to the downfall of Bankia, the banking giant at the epicentre of Spain’s economic disaster.
Rodrigo Rato, once a powerful economic minister, has suffered a cliff-fall from grace. An internationally respected official and still well-regarded inside Rajoy’s ruling centre-right People’s Party, Rato has become the focus of public anger about banking practices and recklessness.
Prime Minister Mariano Rajoy forced Rato, 63, to quit Bankia seven weeks ago, just before the bank was nationalised and became the biggest-ever failed Spanish lender. On May 10th this year, The Slog posted:
full article at :http://hat4uk.wordpress.com/2012/07/06/spanish-crisis-former-imf-and-bankia-boss-charged-with-massive-fraud-11-2/
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About machholz
I started this Blog to get out of my system the absolute rage that I have for the corrupt politicians and their Banker Buddies. I’m an ordinary guy, married with kids, and have firm opinions of what is right and what is wrong. I’m not afraid to say it even when it makes me unpopular.
I reproduce news all manner of articles, but will always confirm the source of the articles; this is a compliment to the source of such news pieces. But if you do not agree with this and you are the original author, I will take down any article when requested to do so. I do not assume that the author of the news articles share with my views, I include news articles to give readers another slant to my views or to illustrate what the mainstream news media say on the relevant topic.
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In addition, my thoughts and opinions change from time to time...I consider this a necessary consequence of having an open mind. This weblog is intended to provide a semi-permanent point in time snapshot and manifestation of the various memes running around my brain, and as such any thoughts and opinions expressed within out-of-date posts may not the same, nor even similar, to those I may hold today.
For the record I am currently an Independent political activist and am not affiliated to any political party
