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Spain Takes Over 'Poster Child' Bank

Part-nationalization to cause huge losses for Bankia investors

By Rob Quinn,  Newser Staff

Posted May 10, 2012 3:18 AM CDT

(Newser) – Merging seven struggling banks in Spain appears to have created a big, struggling bank instead of the healthy institution authorities were hoping for. The Spanish government is now grabbing a controlling 45% stake in Bankia, the nation's fourth-largest lender and the one with the...   Read full story »

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