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Forget HM Treasury. Northern Rock’s deposits could be guaranteed from the top. The very top.

Northern Rock has been approached with a bid offer from a group of Spanish banks, according to reports from Spanish daily newspaper El Mundo. The group of banks is headed by Spanish entrepreneur Jose Maria Ruiz-Mateos, who approached Northern Rock CEO Adam Applegarth on Friday:

Mr Jose Maria Ruiz-Mateos, representing a group of Spanish investors, would be interested in acquiring a package of shares in Northern Rock large enough to give him direction of the bank.

Muy bien. But if you’re a fan of conspiracy theories…

From what we understand of Mr. Ruiz-Mateos’ past, he was imprisoned in the 1980s for smuggling, fraud and tax embezzlement - extradited from West Germany and carted off to a Spanish maximum security prison. Those charges where then quashed in 1999.

Oh, and did we mention - he’s a prominent ex-member of the ultra-catholic Opus Dei sect.

In fact, if you believe what Catholic scholar and Opus Dei specialist Michael Walsh has to say, then Ruiz-Mateos’ Rumasa company was all part of a complex financial front to fund Opus Dei in the 1980s. Remember the Ambrosiano banking conspiracy anyone?

The Spanish government confiscated all of Ruiz Mateos’ assets and companies in 1983.

Who knows, maybe Adam Applegarth would be great as God’s banker. It’s not that we’re suggesting the Holy Trinity is a more suitable business model for Northern Rock, but, compared to their current one… surely it’s worth a try?