U.S. Helps Spanish Company to Buy Texas Bank
By
A Citizen
on September 3, 2009 at 08:44 am
“Federal regulators seized Guaranty Bank and simultaneously brokered the sale of its branches as well as most of the deposits and assets to BBVA Compass, the Spanish bank’s American subsidiary. The government, however, agreed to absorb most of the losses on $9.7 billion, or more than 80 percent, of the Guaranty assets included in the deal.”
http://www.nytimes.com/2009/08/22/business/22bank.html?_r=1&em
“Our” govt sells a US bank to Spain, the bank’s stockholders get screwed (total loss) and a $10 BILLION loss to US taxpayers…at the least.”
