The Spanish bank Santander is on a buying spree as it seems (news article). This is totally rational from the viewpoint of banks, considering the new Basel III rules and the fact that governments always rescue banks (at least, as long as they are able to). As a bank you gotta get as big as possible in order to be “Too Big To Fail” (TBTF). If When the next crisis happens, most banks will finally be TBTR (Too Big To Rescue) and we will suffer the worst economic crisis in the history of mankind. It will throw us back 20 years in terms of economic development and it will destroy some democracies and bring about revolutions all over the world, similar to Europe in 1848.