The Spanish savings banks (SSBs) built-up excess capacity and risk concentration influenced by many stakeholders’ interests, including politicians in their decision-making bodies. SSBs were not subject to typical market discipline mechanisms, and blurred competences between the central government and the autonomous provoked the crisis of the Spanish financial system. Read the full analysis by the IMF in the attached documents.
As reported by ‘The Lawyer‘, Banks may be getting stick about how much tax they (don’t) pay, but perhaps a little sympathy is in order: it sounds like their legal bills are extortionate.
Between 1 July 2010 and 30 June 2011, the UK’s four largest banks spent more time at court than Madame de Pompadour. Almost half of all the High Court cases featuring FTSE100 companies involved either Barclays, HSBC, Lloyds Banking Group or Royal Bank of Scotland. Continue Reading