Tag Archive for Banking Industry

Spanish Lender Seeks $24 Billion Bailout – Ratings Cut on 5 Banks – NYTimes.com

Spain’s banking crisis worsened Friday as the board of Bankia, the country’s biggest mortgage lender, warned that it would need an additional 19 billion euros ($23.88 billion), far beyond what the government estimated when it seized the bank and its portfolio of delinquent real estate loans earlier this month. When Spain seized Bankia May 9,…