Banco Santander SA (SAN)

Their housing market/mortgages went quite high and hasn't rolled over quite as much as the US, but the risk is there. The great thing about them is that they have Latin American exposure and Brazil is a better market to be exposed to.

Like south America/ Mexico in a big way. Largest bank in Spain, also has exposure through Latin America. Efficiency is much lower than many of the banks in the world.