Politics

[Altitude sickness]

Adding aluminum production is a monumental national security bulwark. From national defense to the electric grid. It’s long over due.

In the past I held a position that required reading, understanding then signing the Sarbanes-Oxley Act and particularly where it pertained to my budget and spending reporting. It was very intimidating understanding that you are liable and serious jail time awaits you. If you falsified budgets and spending. Particularly moving dollars around between different budgets or manipulating numbers for a number of illegal purposes. And it was very clear. Claiming ignorance was not a defense. Anytime a certain budget cap was spent. I had to sign saying every dollar was spent appropriately. Which of course I had no idea if it was. if people below me were falsifying numbers.

 

[spike.t]

Australian sky news having a field day with the UK government saying the countryside is too white ...

 

[steve white]

Adding aluminum production is a monumental national security bulwark. From national defense to the electric grid. It’s long over due.

In the past I held a position that required reading, understanding then signing the Sarbanes-Oxley Act and particularly where it pertained to my budget and spending reporting. It was very intimidating understanding that you are liable and serious jail time awaits you. If you falsified budgets and spending. Particularly moving dollars around between different budgets or manipulating numbers for a number of illegal purposes. And it was very clear. Claiming ignorance was not a defense. Anytime a certain budget cap was spent. I had to sign saying every dollar was spent appropriately. Which of course I had no idea if it was. if people below me were falsifying numbers.

There once was an aluminum plant in Rockwall, Tx, with their anodizing done in Terrell. I don't know why they closed, but they sure taught the electric utilities the meaning of "demand charge" when those presses went into operation!

 

[Ontario Hunter]

What should be scary to you is that you think your money is being managed by so called experts. Huge mistake on your part.

The gal works for the investments branch of a chartered bank. Probably the second or third largest bank in Canada. Her people generally bring in seven to eleven percent per year on my investments. Even last year with the economy reeling from Trumpitis they still managed to find me eight percent overall. If I can stay even with inflation I'm satisfied. Things are a lot more heavily regulated up here, thankfully, so I'm not worried. Sure, I pay them well, but every penny comes off my income when calculating taxes. And I do keep an eye on what they're doing. So far my investment gal's advice has been spot on.

 

[Altitude sickness]

Canada Banks are fundamentally stronger and more stable than US banks. The U.S. has had 17 bank failures crisis and Canada Zero.

 

[WAB]

Canada Banks are fundamentally stronger and more stable than US banks. The U.S. has had 17 bank failures crisis and Canada Zero.

Agreed. Canadian banks didn’t bundle derivative risks and skated through 2008 unscathed. Harper was a stellar leader through that crisis. Hard to believe Canadians traded him in for a blackface clown.

 

[Altitude sickness]

The next Bank crisis will be caused by the murky world of Private Credit.

 

[Altitude sickness]

What is private credit? Does it pose financial stability risks? | Brookings

The Hutchins Center explains the recent evolution of private credit and the issues that it raises.

www.brookings.edu

 

[Rimbaud]

Agreed. Canadian banks didn’t bundle derivative risks and skated through 2008 unscathed. Harper was a stellar leader through that crisis. Hard to believe Canadians traded him in for a blackface clown.

Unlike America’s banking system, Canada only has a handful of banks. The banking culture is conservative and lacks U.S.-style competition. Those banks do operate in America, and some have had investment banking operations in our country. CIBC, for instance, was very active in commercial real estate, and the i-bank desk in NYC did a lot of deals in the NYC market. The capital markets in Canada are often considered to be a Wild West, compared to U.S. financial markets. Some U.S. executives have, in years past, been hired to run big Canadian exchange companies, but the investment culture in Canada - at the retail level - has always reminded me of Germany, which is to say conservative, savers, who like fixed income. It’s hard to top the U.S. markets, even with the volatility. Find some solid blue-chips with a real business, and a history of increasing dividends, which historically represent 45% or so of a stock’s historical price performance. There are no guarantees, but an appetite for quality and vol and patience are often hallmarks of long-term investment success.

 

[Altitude sickness]

The U.S. is great for large gains and Booms. But with that comes the bust. Canada banking is more of a slow and steady system. Less Manic.
In the U.S. each bank decides how much cash or liquid vs loan value ratios or risk Etc it wants on its books. If too many people default on loans or there is a run on the bank many banks don’t have the liquid assets to cover that.
Canada banks tend to have more liquid assets for rainy days.

My bank was just acquired by a larger bank. Primarily because of my bank’s positive ratios.
It helped the stock price that I held in my bank. But I will now sell the stock I was issued for the merger.

Bank-Specific Ratios

Bank-specific ratios, such as net interest margin (NIM), provision for credit losses (PCL), and efficiency ratio are unique to the banking industry.

corporatefinanceinstitute.com

 

[Aaron N]

Canada Banks are fundamentally stronger and more stable than US banks. The U.S. has had 17 bank failures crisis and Canada Zero.

But but but, regulation baaaaad

 

[Altitude sickness]

Aaron, Canadian banking modeled their system after the Scotland stable system. Just about every world wide accepted bank process and procedure was initiated in Scotland in the late 1700s early 1800s.

The Bank of Montreal, established in 1817—were formed by Scottish merchants who brought their banking traditions with them.

So they chose purposely a more stable system. It wasn’t initially regulated that way.

 

[Aaron N]

I’ll say as a small business owner, dealing with the banks here can be a total pain in the ass. I literally had the bank cancel a new hires first pay deposit because they decided TWICE it was a security breach

 

[Aaron N]

Aaron, Canadian banking modeled their system after the Scotland stable system. Just about every world wide accepted bank process and procedure was initiated in Scotland in the late 1700s early 1800s.

The Bank of Montreal, established in 1817—were formed by Scottish merchants who brought their banking traditions with them.

So they chose purposely a more stable system. It wasn’t initially regulated that way.

But we have fairly heavily regulated banking now which is a double edged sword. I find it interesting when I’m in the states how many different small banks are on every second corner.

 

[Altitude sickness]

During the next U.S. bank crisis. You will appreciate your boring PITA bank.

 

[Altitude sickness]

Aaron, that very thing is some people’s theory of why the US banking is less stable. Some people’s theory is there are too many different US bank companies. It all depends which economist you listen to.

The one theory is when there is a systemic dangerous issue coming up fewer big banks can communicate quickly before the virus spreads and either those few banks all go in together and buy that failing bank before it creates a run on banks.

Fewer banks makes an easy decision. where in the US with there being thousands of companies, they’re less nimble and able to react in time. That is why the Fed was created to oversee it all, but they can’t even manage it.

 

[Aaron N]

During the next U.S. bank crisis. You will appreciate your boring PITA bank.

On another note, wasn’t there a bank in Colorado that would give you a rifle for opening an account at one point and time!

 

[spike.t]

 

[Ontario Hunter]

Agreed. Canadian banks didn’t bundle derivative risks and skated through 2008 unscathed. Harper was a stellar leader through that crisis. Hard to believe Canadians traded him in for a blackface clown.

The banks were regulated long before Harper came along. Given the Conservatives' typical posturing against govt regulation, I would assume they had little or no part in formulating Canadian banking regulations. That would be Liberal or NDP bailiwick.

 

[JimP]

On another note, wasn’t there a bank in Colorado that would give you a rifle for opening an account at one point and time!

That was the Bank Of Boulder in Boulder. You basically opened a CD for XX years and they gave you a rifle in lue of the interest. The rifles were Weatherby Mark V's.

I've seen other banks do similar programs.