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El Banco de España cuestiona las cuentas de Caja Castilla La Mancha · ELPAÍS.comThe Bank of Spain puts into question the accounts of Caja Castilla La Mancha - ElPais.com
Según diferentes fuentes, el supervisor considera que CCM necesita más capital porque la pérdida esperada de las inversiones bursátiles y las de la morosidad crediticia va a ser mayor de lo que ahora reflejan las cuentas. Por eso, las dotaciones que necesita superan los 156 millones acordados por la entidad, lo que provocará que CCM entre en pérdidas tras la reformulación de las cuentas de 2008.According to various sources, the [Spanish banking] supervisor considers that CCM needs more capital because the expected loss from its stock market investment and those [expected losses] from credit default [are] going to be greater than what [CCM's] accounts currently reflect, which will cause CCM to post losses after reformulating the 2008 accounts.
In other words, CCM cooked the books to try to forestall a takeover by the regulator.

IMHO the management could face criminal charges.

Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith

by Migeru (migeru at eurotrib dot com) on Tue Mar 31st, 2009 at 05:04:11 AM EST
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