Double your money?

Thanks to the excellent people at Zero Hedge who have followed the announcements of the rescue of the Spanish Bank Bankia

Bank Of Spain Formally Nationalizes Bankia, Says Insolvent Bank Is "Solvent", Adds There Is No Cause For Concern, Zero Hedge, May 9

Spain is taking over Bankia by converting its 4.5 billion euros of preferred shares in the group’s parent company into ordinary shares, BusinessWeek, May 21

Spain said on Wednesday its rescue of problem lender Bankia would cost at least 9 billion euros ($11 billion), as the government tries to clean up a banking system that threatens to drag the country deeper into the euro zone crisis, Reuters, May 23

Bankia SA will have to ask the Spanish government for more than 15 billion euros as part of its effort to restore its financial health, state-owned news agency EFE reported Thursday, citing financial sources, Dow Jones, May 24

Note that the cost more than trebled in three days. Almost as bad as the Olympic Games.

Bankia is a conglomerate of seven banks which include the wonderfully named Caja Rioja.

I can add to all that today's FT:

Spain to inject up to €19bn into Bankia.

Any more for any more?