Insanity Just Hit New Record Highs: Spanish Banks Petition To Convert Historical Losses Into Bank Capital

- Spanish Banks Petition To Convert Historical Losses Into Bank Capital (ZeroHedge, July 12, 2013): In what has to be the most insane level of desperation, the Spanish banking system is lobbying to turn its deferred tax ‘assets’ into fungible capital to meet new stricter Basel III requirements. In other words, the Spanish banks believe [...] continue reading the breaking news