Wednesday, 26 August 2009

?Hablas espanol?

I keep asking what Spain is up to buying stuff. Since when did Spain become a financial heavyweight?

I have no answers yet however my sense of the ludicrous tells me part of the answer lies in the weird way WWII in Europe was conducted and ended.

Still Bob Chapman gives some more info on US bank failures this past weekend.

“The results were on display Friday, as regulators seized Guaranty Bank of Texas and immediately sold its branches, deposits and most of its assets to Spain's Banco Bilbao Vizcaya Argentaria.”……“The sale of Guaranty to BBVA is the first to a foreign buyer during this crisis. The Federal Deposit Insurance Corp., which sells failed banks, also is considering rules that would make it easier for private investors to participate in the bidding, which is generally restricted to healthy banks. The agency already sold BankUnited of Florida to private investors in May.”……..“BBVA and its major Spanish rival, Banco Santander, are notable exceptions. Spain's unusually stringent banking regulations kept both banks relatively healthy, and they have emerged from the crisis looking to expand. Santander bought struggling Sovereign Bank last fall.
BBVA expanded its U.S. presence with its $9.6 billion purchase of Compass Bancshares in 2007, giving the company almost 600 branches from Alabama to New Mexico. The Guaranty deal gives the company more than 150 additional branches split between Texas and California.
The company also owns the largest bank in Mexico, Bancomer.”

I also keep asking myself why Bush bought big in Paraguay, and the universe provided some answers. Water, gas and troublemaking in MERCOSUR.


Apparently the Rev Moon, a big pal of B., has an even bigger spread down there right next to Bush.


The same universe also links Bush, Operation Condor, Lockerbie & GWOT all through Paraguay.


Heads up.