In Win for M15 Movement, Spain Opens Criminal Probe of Ex-IMF and Bankia Chief Rodrigo Rato

[Lars77]

DemocracyNow.org - Protesters in Spain are celebrating a major victory after the country's high court opened a criminal investigation into Rodrigo Rato, the former head of Spain's biggest mortgage lender, Bankia. Rato, also the ex-chief of the International Monetary Fund, has been ordered to appear in court to face criminal fraud accusations related to the downfall of Bankia, a banking giant at the center of Spain's economic meltdown. The news marks a rare case where a former bank executive is facing a criminal probe related to the global financial crisis. Reporting from Madrid, Democracy Now! host Amy Goodman speaks with Madrid-based activist Olma Gálvez, an organizer with Democracia Real Ya, or Real Democracy Now, part of the May 15 Movement in Spain.

To watch the complete weekday independent news hour, read the transcript, download the podcast, search our vast archive, or to find more information about Democracy Now! and Amy Goodman, visit http://www.democracynow.org/

[HopeHoops]

1. Now if only we could get the same thing done in the US.

[dtom67]

2. Great news.

This is good to see.

Spain's banking problem is even worse at the regional level. There is almost no regulation at this level.

their next step should be to bail out its citizens, as this is what really drives the economy.

But, I forgot...

entitlements are only for the wealthy.