Wednesday, May 26, 2010

The Ten Billion Dollar Not So Sure Thing or More Problems for the Fake Bailout

Spain's Banco Bilbao Vizcaya Argentaria, or BBVA, has been unable to renew roughly $1 billion of short-term funding in the U.S. commercial-paper market since the beginning of the month, according to people familiar with the matter, says WSJ.

This is only the start of the problem. The bank also has other substantial European-based funding  and about $9 billion in U.S. commercial paper, according to WSJ.

No one knows how much of this  BBVA will be able to roll over. It's a ten billion dollar question.

You know something? This fake bailout, isn't going so well.

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