Liars

[ajl]

Also Flaherty fails to mention that the
oligopolistic Canadian banks screw their
customers with service charges like no
other banking system in the world. That
is why I am a shareholder. I let my bank
do my stealing for me.

[sumdumguy]

Just found out that a small account that I kept
for paypal was emptied- yes I mean the money
was snagged by the bank because I hadn't used
the account for 2 years.

Isn't theft illegal?

[TOM4CWB]

Cottonpicken,

I am a 'cup is half full' guy, with our credit union system with 100 percent deposit Gar. we do have the best banking system. If you do not like the big 5, take your business to another financial insitution. FCC also made it through this problem with flying colours.

"Canada's banks buck global trend, declares WSJ

Wednesday, December 07, 2011





The Wall Street Journal writes on how and why Canadian Banks have earned their international reputation as "the world's soundest." Toronto-Dominion (TD) is among the Canadian banks whose solid reputation has led to significant growth in the past five years: TD is the number two Bank in Canada and the number 10 bank in the US with more branches south of the border than north.

"Toronto-Dominion Bank and Canadian Imperial Bank of Commerce posted strong fourth-quarter profits Thursday on consumer and business loan growth, benefiting from the continued economic and employment growth in Canada that has kept the housing market strong and consumer confidence stable."


"The country's banks, which have minimal exposure to the debt-crippled peripheral European countries, have been ranked the world's soundest for four straight years by the World Economic Forum, enabling them to build through acquisitions abroad and aggressively compete for market share at home."

read full story here
original source Wall Street Journal"

http://www.yongestreetmedia.ca/inthenews/canadasbanksbuckglobaltrend1207.aspx

There is a good reason we can lock in 5 year rates at 3.5 percent interest. I call that spectacular.

No doubt there were 'bumps' going through the 2008-09 crisis... no 'net' taxpayer bailouts is a great testament to our CDN financial stability.

[sumdumguy]

I am way more afraid of Credit Unions for
reasons I can not disclose and as for the 100%
guarantee, I want to see it in writing, just like
CDIC.

[sumdumguy]

Tom, where can you get 3.5 for 5 years?

[TOM4CWB]

AFSC FCC are 2 I know of at 3.5%

FCC is at 4 on farm inputs last we checked.

Without liquidity we are all hooped!

I think that was the reason to inject the monitization funding... forced sales to create cash makes chaos.

[Hopperbin]

I just transfered 15 grand out of my Credit Union equity account. Had to leave 2 grand in there. They must be doing fine.

[wilagro]

I'm about to transfer 30 grand INTO our Credit Union equity account. Beats the ATB rate of return.

[cottonpicken]

Credit unions are not covered under cdic,canadian
tire bank is.

If credit unions have a leverage of 1:1,i.e. 1 dollar
deposit to one dollar loans,its news to me and thats
good,i don't their leverage ratios,if somebody does
know fore sure,please tell us.

This is the the most important concept to understand.

LEVERAGE-avearge leverage ratios,i said
average,stand around 20:1,this means 20 dollars in
loans to 1 dollar in deposits.

These loans are tradable assets,on the books,if the
value of these assets declines just a few points,the
bank is toast,if people like me sense their toast they

A:take their money out and run(aka bank run)
B:take the money out,short the stock,buy a credit
default swap if somebody is stupid enough to sell one

Thats why the banks where re capitalized,thats why
the toxic assets/debt was taken off the banks and put
on the taxpayers........

Which leads to qe and paul harveys rest of the story...
which is credit unions in vancouver.......

[cottonpicken]

I should also talk simple to some.

Having money in a credit union is one of the dumbest
things you could do.