It’s not looking good for the Spanish banking system. Standard & Poor’s just slashed the credit ratings of five banks and said the country is headed into a double-dip recession. One of them, Bankia, just asked the government for 19 billion euros in aid - a roughly $23.8 billion boost.http://www.latimes.com/business/money/la-fi-mo-spain-bankia-20120525,0,267898.story
That makes it the largest bank bailout in Spain’s history. Combined with escalating concerns that Greece is about to execute its so-called Grexit from the euro currency, the news is doing nothing to alleviate the heightened anxiety in the euro zone.
GONYEA: The president said the main goal of firms like Bain Capital is not to create jobs, but to maximize returns for investors.http://www.npr.org/2012/05/25/153679122/obama-campaigns-in-iowa-accuses-romney-of-distortion?ft=1&f=1014
(SOUNDBITE OF SPEECH)
OBAMA: Now, that may be the job of somebody who's engaged in corporate buyouts. That's fine. But that's not the job of a president.