Cdn. Yield: Corps, Trusts, GICs, Pref. Shares - Canadian banks - Flies in the ointment? - Cdn. Yield: Corps, Trusts, GICs, Pref. Shares - InvestorVillage


Cdn. Yield: Corps, Trusts, GICs, Pref. Shares
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Msg  112481 of 112649  at  11/29/2022 4:44:23 PM  by

marpincan

The following message was updated on 11/30/2022 9:26:53 AM.

 In response to msg 112478 by  agrossfarm
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Re: Canadian banks - Flies in the ointment?

 
 IMO - What saved the Canadian banks in 2008 was shear luck and timing. They had been pounding on Ottawa's door for some time asking for similar rules that the American banks were operating under. The same rules that allowed Ninja loans, and flaky fraudulent valuations for mortgage purposes. this all created areal estate bubble south of the boarder and the now infamous crash of 2008. The Canadian government had legislation coming up to allow these changes. Legislation which was quietly scrapped once the chit hit the fan south of the boarder. 
  You now have the opposite situation with the housing bubble in Canada and the American banks thanks to more tightened regulations in America and a much more diverse econmey in better shape. on top of this, the government changed the rules so that if Canadian banks do get into trouble, the common and preferred shareholder will shoulder much of the bail out rather than the government. Not sure why as the government in Canada never lost a penny in bailing out financial institutions and actually made money over the longer run. I guess optics in the face to the public have a lot to do with it. ;-) Ironically, the Canadian real estate problem was mostly created by the government. - Easy money policy that ran for far to long and almost total inaction to deal with a run away real estate bubble. Anything that they did amounted to far to little to late. IMO 
  My investments are currently heavily weighted  towards cash or equivalents and oil/ gas with some base metals/ gold. I also have some special situations in the tech space that should survive the current rout and that I expect to pan out over time. With the financials like banks, I would not guess where they will end up but if the current economic situation continues to fester, it could easily cut prices in half . We have not yet seen real capitulation (where absolutely everybody is running from the market and specifically the financials. JMO

 


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