Spain's top court, the Audiencia Nacional, has nullified Judge Silva's course of action in regard to the credit given to Gerardo Díaz Ferrán in the Blesa case.
The court's decision is important for another reason: it could keep judges from investigating bad banking practices in the future. This could exonerate the bank executives that were responsible for the sector's collapse. This outcome is hard to fathom and runs against the grain of the actions that other countries have taken against rogue bankers. In the United Kingdom yesterday, for example, it was proposed that incompetent bankers should face stiff penalties or even jail time.
