La Caja de Ahorros del Mediterráneo (CAM) went from everything to nothing. He became the fourth case in Spain, became the flagship of finance for entrepreneurs in the Valencian Community, sponsoring many events of all kinds and helped finance the ruinous megaprojects of the president, Francisco Camps: Terra Mitica, The city ​​of Light or the City of the Arts. Some of their leaders have been able to embody a role in Scorsese 's latest film, The Wolf of Wall Street.
The instrumentalization of the Generalitat and poor management and cheerful CAM, the boundless ambition of its dome that sought their own benefit, severance packages and business doubtful profitability, joined when all the lights came on the wreck CAM was imminent. Faced with such nonsense on July 22, 2010 the company was taken over by the Bank of Spain.
Weeks earlier, its CEO, Roberto LÃ_pez Abad and four other top executives tied a early retirement of 12.8 million euros, and Maria Dolores Amoros, LÃ_pez succeeded in his office, the first thing I did was to approve a salary for her to 600,000 per year and a pension of 370,000 euros. It was the time in the box you paid $ 1,000 for attendance at board and in which conclaves were held in Mexico or China.
LÃ_pez Abad (Alcoy, 1956) took the overall direction of the CAM from 2001 to November 2010. A first period of expansion based on the real estate boom (with a risk of between 11,000 and 16,000 million in loans to development companies) which represented almost 30 % of the credit institution. LÃ_pez Abad sailed to the CAM in 66 companies and 104 projects linked to the brick sector. Its president, Modesto Crespo, was more attentive to the wishes of Francisco Camps, who shared religious fervor, that the requirements of the Bank of Spain.
Tags: box, sank, Wolves