Bail out to Canadian banks was $114 Billion!

[Toma]

http://www.cbc.ca/news/business/bank...sion-1.1145997

To show the scale of the funding, the CCPA report contrasted the total value of the support Canadian banks took against the bank's total value at the time. Under that comparison, CIBC received $21 billion in support — almost 1.5 times the value of the company at the time. BMO maxed out at $17 billion or 118 per cent, Scotiabank peaked at $25 billion or 100 per cent of its value, while TD and RBC maxed out at $26 billion and $25 billion — good enough for 69 and 63 per cent, respectively, of the total value of those companies at the time.

"It would have been cheaper to buy every single share in these companies," Macdonald said.

But the CBA disputes those numbers too, saying comparing a bank's value to the level with which it participated in a liquidity program aimed at boosting confidence in the market is "an apples to oranges comparison as the two factors are not at all related."

[InRich]

I dont get it, whats going on here?

[Arash Boodagh]

This

“There’s a plot in this country to enslave every man, woman and child. Before I leave this high and noble office, I intend to expose this plot.”
– President John F. Kennedy before his assassination

"it is now known because of information passed by insiders that JFK was referring to the International World Zionist Banking Conspiracy run out of the City of London that produced continual war and many tyrannical ‘isms, all which served as precursors to large international wars which made vast profits for the Banksters. JFK has signed an executive order authorizing and ordering the US Treasury to print US Dollars independently from the United states of America with no involvement of the Fraudulent, criminal, Unconstitutional Fedral Reserve System."

[ZenOps]

Liquidity injection was pretty damn big. Media outlets were told to downplay the amount of money printing.

Per capita, Canadian money printing (electronic and bills) was far in excess of the US. To put it in perspective, the US printed three billion $100 bills in 2012 alone.

I am a little surprise they didn't run out of ink... Or perhaps they did (the US did delay their $100 new bill for quite a few years) Canada did technically break through the 7,810 foot level on Creighton nickel mine in 2011, which is probably why there isn't enough to make any coinage with it anymore. The Canadian dollar being nickel from 1968 to 2012.

[sputnik]

Toma, Boodagh and Zenops all in the same thread.

[Darell_n]

Good! Look them in here so they can't get out. Had Rolo ice cream for the first time in several years, last night. Soooo good.

[ExtraSlow]

So the US federal reserve has purchased approx 1.5 Trillion dollars worth of Treasury securities since 2008 as part of the "quantitiative easing" program.

For that same price they could have written a cheque of $5000 to every man, woman and child. I'm no economist, but I suspect that would have had a great positive impact on the economy.

[01RedDX]

.

[Toma]

I just can't believe this part....

"
"It would have been cheaper to buy every single share in these companies," Macdonald said."

We could have owned them outright and gained the benefit of profits.

So capitalism is.... Fund the debt. Get no profit. Lol

[benyl]

privatize gains, socialize losses.

[Canmorite]

Originally posted by Toma
I just can't believe this part....

"
"It would have been cheaper to buy every single share in these companies," Macdonald said."

We could have owned them outright and gained the benefit of profits.

So capitalism is.... Fund the debt. Get no profit. Lol

Although 'cheaper' (probably not better), the Canadian Government isn't in the business of owning and running banks.

[ZenOps]

To their credit.. It has been working, sort of.

No major crashes, no destruction of society, just a slow decline in employment (some say that is inevitable) and a relatively slow decrease in purchasing power of the dollar.

No deflationary spiral, but really no growth at all.

If the ultimate goal was "print enough" so that people would not be protesting in the streets and starting a revolution - then it was a success. But long gone are the days where economic policy is created to actually improve the quality of life for the majority.

[Toma]

Originally posted by Canmorite


Although 'cheaper' (probably not better), the Canadian Government isn't in the business of owning and running banks.

Change in ownership doesn't have to change business model. They are self sustaining entities. Except when they need a bail out.

[Toma]

Originally posted by benyl
privatize gains, socialize losses.

Exactly.

Crooks and liars.

[icky2unk]

wgaf

[max_boost]

Originally posted by InRich
I dont get it, whats going on here?

and Beyond is worried about servers not declaring all their tips. Come on man.

[Toma]

The way of the right wing.

Bamboozle with bullshit, and shifting focus from the REAL culprits to individual taxpayers trying to make ends meet month to month.

[faiz999]

Originally posted by 01RedDX
The Canadian bailout was analogous to/collusion with TARP, one of history's greatest swindles. No requirement to increase lending, public risk/losses, private gains, one of the most egregious examples of corporate welfare and banks dictating terms to governments.
The same corporate trough feeders then point their fingers at the poor calling them "takers" while getting rewarded for their foolish and reckless behaviour that caused the crisis. No punishment or prosecutions for the actual criminals who got rewarded with more money to encourage the same behaviour, while ordinary people lose their homes and get thrown in jail for writing a bad check or missing their kids school fees. Obama's presidency was doomed before it began. Here, there are still solid pockets of support for that corporate lapdog whore Stephen Harper.

post of the thread.