Revelation 6:5,6 NCV When the Lamb opened the third seal, I heard the third living creature say, "Come!" I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, "A quart of wheat for a day's pay, and three quarts of barley for a day's pay, and do not damage the olive oil and wine!"
Bankia, one of the largest banks in Spain, has been found to have a negative net worth sending stocks tumbling almost 20%.
Spanish officials say the bank has been assessed with a negative $4.2 billion euro balance ($5.6 billion U.S.) and their parent company BFA with a negative $10.4 billion euro deficit.
The parent company is currently receiving a bailout from funds obtained through the European Union.
Trading of Bankia’s stock has been suspended on the Spanish index until the bank has been recapitalized. The government’s bailout fund, FROB, has told Bankia’s parent company that 10.7 billion of a 13.5 billion euro bailout must go to the failing bank.
Shares in the bank have fallen 80% since July 2011.
In addition to the bailout, about 350,000 investors in the bank will lose their money as part of the rescue plan.
