Thursday 28 February 2013

Bankia in deep trouble





Hey guys.
Remember in May 2008 when all the CEO's came out publicly and stated that everything was fine.   Then a few months after Lehman went bust.  I see the same thing happening in Spain.

After taking a huge loss of 19.2B Euros Bankia CEO stated they are completely liquid and solvent and they are the only bank that can pay back their rescue funds

Really?........................

FACT CHECK TIME

 Leverage: Has a leverage ratio of 25-to-1.  Is this bad? Lehman was 30-to-1 when it collapsed.  (note these are using 2011 numbers. I will update this when they publish 2012 financials.)



Interest Coverage1.0

The lower the ratio, the more the company is burdened by debt expense. When a company's interest coverage ratio is only 1.5 or lower, its ability to meet interest expenses may be questionable.  



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