What’s Different About Our Banks In Canada

I’m sure you’ve been reading non-stop about the banking mess in the USA. Quite a few regional banks have already gone under and some of the big ones like Bank Of American and Citibank, which seemed strong enough at the beginning of the financial fallout, now are having difficulties.

In some cases they may have jumped into the aquisition mode too soon when some of the first lenders or brokers to go broke were being put on the market for sale. The increased mortgage sub-prime losses from those aquisitions has not been good for their balance sheets.

In Canada, we’ve been lucky. The big five banks have withstood the storm quite well and there are some very specific reasons why they’ve not been tainted the way the US banks have.

CLICK HERE to read a very interesting analysis of the problem and why our Canadian banks are looking good!

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