Registered: Jul 2011
05-18-12 01:52 AM
Spanish bank, Bankia, is denying reports of a run.
Bankia was nationalized about a week ago. Spanish Secretary of State Fernando Jimenez Latorre denied the rumor that 1 billion euros have been withdrawn since the bank was taken over by the government. Bankia shares fell as much as 29% today.
When government officials deny something like this, it usually means it's true. I can't see how the words "Spanish bank" wouldn't scare the bejesus out of any human being.
The bank's president, Jos้ Ignacio Goirigolzarri, really sealed the deal when he said in a statement to the Madrid stock exchange, "Depositors at Bankia can be absolutely reassured that their savings are safe."
Oh no, look out below