Banco Santander SA (SAN)

[Huggy Bear]

STD. Santanders combination of selling some Brazilian assets and other minor assets in Latin America and the offering of new shares as opposed to divi's to existing shareholders, even the holders of the US ADR, how allowed STD to raise core capital rather painlessly. STD, LYG and IRE are all capitalized at core ratios 0f 9% or better.

Now we just need some signs of recovery in the Eurozone in general but I am not holding my breath. It is a very good time to load for the LT providing that Europe does not collapse.

malc