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Duped savers protest against bank
Aggregated Source: Shanghai Daily: Business

Junior debt holders of Spanish lender Bankia shout slogans during a protest outside a bank branch in central Madrid in file photo. Many duped savers at Bankia are shunning a state-supervised compensation scheme in favor of expensive lawsuits, prolonging a misselling scandal and complicating efforts to restore faith in the banking system. The disputes over mis-selling at Bankia and other nationalized banks have created a major headache for the government as it tries to take the next step in their rescue, imposing large losses on holders of junior debt. The posters read: "Preference shares bank thieves, Bankia" (left) and "Preference shares, Bankia fraud."

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Copyright Shanghai Daily: Business