Banco de Madrid bankrun

[poker]

Bankrun on Banco de Madrid .
Seems they where cought transfering and money loundering . Lots of peaple took their money out and left the bank without means to pay out . . . .

Cant add link ? Yust google Banco de Madrid .

[Janet]

Not just a bank run, but a bank that's filed for bankruptcy.

Some 3,500 Canarians are affected, let alone those beyond these islands, by the bank going into liquidation, and all deposit accounts and investment funds are now blocked. No-one can get any money out. The measure was taken by the administrators of the bankruptcy as a result of the run on current accounts of Banco de Madrid's parent bank Banca Privada d'Andorra last week when it became clear that it was being investigated for money laundering.

HERE's the Wall St Journal in English on the issue.

[Pelinor]

For Spain read Greece! I have to wonder whether there is any Spanish institution that is not fully or at best heavily tainted with corruption. I discovered this morning (this may be old news) that the head of the Hacienda is under investigation! The man charged with the collection of taxes that keeps the country going is apparently bent, WTF