AZORA: The selling of 3000 social houses by the Madrid Community in 2013.
The decision by Ana Botella (the then president of the Madrid Community) to sell 3000 social houses (1)——- an SPV (special purpose vehicle) set up in Spain (2)…. the global investment bank Goldman Sachs, has to rank pretty low (3)……the scale of actions carried out by Madrid»s regional government; simply because Ivima (Madrid»s social housing department) was set (4)…. to alleviate poverty not to enrich a global investment bank (Goldman Sachs).
Goldman Sachs had great difficulty in getting rid (5)—- the tenants, many (6)—- whom were gypsies and who, up to that point, had been paying a minimum level of rent to the social housing body set (7)—-by the regional government (Ivima). In order to force the gypsies to vacate the apartments, Goldman Sachs employed other gypsies, giving them wads (large amounts) of cash in order to persuade the social housing tenants to get (8)—- of their flats.
Goldman Sachs bought the apartments from Ana Botella (president of the Madrid Regional Government) in 2013 for an average price of 65000 euros. The average selling price over the subsequent years was 180,000 euros. So the profits were (9)—- of this world for the bank they call «The Vampire Squid» (due (10)—- it»s ability to have it»s tentacles in so many money making opportunities.
The transaction between the Madrid Community and Goldman Sachs (Azora) was declared illegal by the Spanish Supreme Court in December 2019.
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