Cajasur gets bailout from Bank of Spain | SpanishNews.es: "Andalucian based Spanish savings bank Cajasur, controlled by the Roman Catholic Church has been taken control of by Spain’s central Bank Saturday amid growing concerns over Spain’s ability to clean out its public finances and creditworthiness.
Cajasur raked up hundreds of millions of euro losses as its struggled to cope with the growing financial crisis, which cost the bank 596 million euros losses in 2009 and 114 million in the first quarter of 2010.
The Spanish central bank plans to sell troubled savings bank Cajasur to the highest bidder as soon as possible. This is the second time the Bank of Spain stepped in in the bank since the beginning of the financial crisis in 2008."
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