Monday, May 28, 2012

Santander: The lady doth protest too much...

One blog reader - a Sovereign customers - sends me the following:


Across the top of my Sovereign home equity statement for June, I read: "The Safety of Santander—Benefit from the security of one of the world's safest banks." 

4 comments:

Unknown said...

Hence why I love mgmt teams under suspicion of fraud saying something along the lines of: "There is no wrong-doing...there are no inaccuracies in our filings"

blah blah blah

- longshorttrader

William Connolley said...

Last weeks paper economist had a nice big ad for Santander which just happened to point out that it was a global bank and made only 12% of its profits in Spain...

Anonymous said...

As a matter of interest, hw did u construct the short? otc? As there presumbly isnt a cfd mkt on preferred?

Anonymous said...

Another bad omen? How sustainable is it to be funding yourself with $19B of commercial paper aimed primarily at "retail clients"?



http://www.reuters.com/article/2012/05/30/santander-debt-idUSL5E8GUIEK20120530?feedType=RSS&feedName=financialsSector&rpc=43

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