Canadian banks

Feb 2011
299
0
Canada
#1
It seems our Canadian banks are raking in record profits in a time of worldwide recession, whilst the banks in the rest of the world are given government handouts (see bailouts). It is no wonder the world recognises that we are the best bankers. The only consequence of our banks would be that we are suddenly being charged some ridiculous service charges which the banks claim are their means of coping with 'losses' during the world financial meltdown. Uh, losses, yet you have reaped record profits? WTF?
 
Mar 2009
2,751
6
Undisclosed
#2
It seems our Canadian banks are raking in record profits in a time of worldwide recession, whilst the banks in the rest of the world are given government handouts (see bailouts). It is no wonder the world recognises that we are the best bankers. The only consequence of our banks would be that we are suddenly being charged some ridiculous service charges which the banks claim are their means of coping with 'losses' during the world financial meltdown. Uh, losses, yet you have reaped record profits? WTF?
Our banks and yours both are doing okay. Just look at what bankers are paid old Buddy!:D
 
Mar 2009
2,751
6
Undisclosed
#5
I actually have a couple of friends in Canada. One of them is an professional artist. And she is a very nice woman. Does lots of volunteer work with birds, like Cockatoos. Which I have one of those.:)
 
Feb 2011
299
0
Canada
#7
Fixed that for ya. :D Also I love how a fascist is all nationalistic in a country allied with Cuba.
How did you come to the conclusion that we are allied with Cuba? No such thing has happened. You Americans are merely angry that you DEMANDED we cut off all ties with Cuba just because they made you their bitch. Why the **** would we allow you to tell us who we may or may not deal with? I do not like the communist regime there any more than anyone else would, but you Americans FORCED them to become revolutionaries. Shit, I would have done the same thing. They booted you out. Your whining resulted in an embargo that we would have no part of. Now, you whine at us.
 
Feb 2011
299
0
Canada
#10
The Americans in this thread amuse me. Not a single Canadian bank received a solitary penny from the taxpayer during the recent financial meltdown, yet more than half of the American banks needed some form of assistance from the American taxpayer just to keep the banks afloat. Hmmm, I quite wonder what this means? China has started to adopt our banking system upon realising how very much superior it is to that of the rest of the world.
 
Jul 2009
5,670
406
Opa Locka
#11
The Americans in this thread amuse me. Not a single Canadian bank received a solitary penny from the taxpayer during the recent financial meltdown, yet more than half of the American banks needed some form of assistance from the American taxpayer just to keep the banks afloat. Hmmm, I quite wonder what this means? China has started to adopt our banking system upon realising how very much superior it is to that of the rest of the world.
Actually, only a handful needed money. The res were forced to take TARP funds least the failing banks be highlighted and destroyed by bank runs.
 
Feb 2011
299
0
Canada
#12
Actually, only a handful needed money. The res were forced to take TARP funds least the failing banks be highlighted and destroyed by bank runs.
Amusing, watching the very BASTION of capitalism nationalising their banks. *ROTFLMAO* We Canadians used to laugh every time an American pointed at Canada and uttered 'socialist'. After the recent worldwide meltdown, we are laughing uproariously at the socialist USA.
 
Mar 2009
2,751
6
Undisclosed
#13
Amusing, watching the very BASTION of capitalism nationalising their banks. *ROTFLMAO* We Canadians used to laugh every time an American pointed at Canada and uttered 'socialist'. After the recent worldwide meltdown, we are laughing uproariously at the socialist USA.
Yeah, we are going to try to fix that "socialist" thing as soon as possible. But thanks for reminding us.;)
 
Jul 2009
5,670
406
Opa Locka
#14
Amusing, watching the very BASTION of capitalism nationalising their banks. *ROTFLMAO* We Canadians used to laugh every time an American pointed at Canada and uttered 'socialist'. After the recent worldwide meltdown, we are laughing uproariously at the socialist USA.
Sate-capitalism isn't socialism.
 
Jul 2009
5,670
406
Opa Locka
#17
Who says it was state-capitalism? The companies in question were already bankrupt. The Taxpayer forked over money, therefore the companies were now owned by the people, hence socialism.
Socialism would be the workers taking over. And if the public did indeed own it we'd all be getting dividend checks from AIG, GMC, etc. No, the gov't took them over and then continued to run them as for-profit companies with gov't appointed leadership (until the companies bought back control of themselves). That's state-capitalism, not socialism.
 
Feb 2011
299
0
Canada
#19
Socialism would be the workers taking over. And if the public did indeed own it we'd all be getting dividend checks from AIG, GMC, etc. No, the gov't took them over and then continued to run them as for-profit companies with gov't appointed leadership (until the companies bought back control of themselves). That's state-capitalism, not socialism.
How is it 'for-profit' when the companies were bankrupt? The money was paid out to cover their debts, hence socialism. It doesn't matter WHO takes over, whether it be workers or the taxpayer. Same thing, collective ownership by the people. Socialism.
 
Jul 2009
5,670
406
Opa Locka
#20
How is it 'for-profit' when the companies were bankrupt? The money was paid out to cover their debts, hence socialism. It doesn't matter WHO takes over, whether it be workers or the taxpayer. Same thing, collective ownership by the people. Socialism.
Yes but they were rescued by the gov't (it's called a bailout for a reason). The price was the money for said money's worth in stock which gave the gov't a controlling share allowing them to fill all the leadership position with gov't agents. The money combined with good gov't management (which the right duly ignores) allowed them to return to profitability. As the gov't had no intention of going fascist on the economy and making these companies state property, he were ale to use said profits to buy back control.

And no, worker, not public, ownership is socialism. That's the definition of socialism, worker dictatorship and all.
 

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