Apropos 'Ex-IMF chief denies bank misrepresented accounts before listing' carried by Business Recorder yesterday, it is both interesting and shocking to learn that ex-IMF head Rodrigo Rato has denied that bailed-out Spanish leader Bankia misrepresented its accounts ahead of its doomed 2011 stock listing while he was chairman of the bank.
The allegations reportedly came in a Bank of Spain report submitted to a court investigating the public listing of Bankia, many of whose customers lost their savings. Rato's 'ordeal' brings to one's mind the unceremonious exit of Dominique Strauss Kahn who resigned from the IMF on 18th May 2011, after being arrested by New York police over allegations of sexual assault.
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