where is this huge figure coming from? were they not monitoring their transactions? This is a big shame man i did not expect this from this bank. i wanted to open a branch here in Africa didon...
I would not be crying for any bank, anywhere. These institutions nickle and dime their very own customers to death. And, they charge the highest rates they think they can get away with. Frankly, I am rather enjoying their difficulties. I hope they continue to lose big bucks for some time yet. I want them to lose as much money as it would take such that they are keeping barely afloat. Welcome to the world of the everyday citizen, you bunch of parasites. Everyone, glow in the pleasure with me....
The money was too easy world over with the liberations of world trade. From 0% loan in Japan, the north American big banks get the money and lend it to us for 4.5%. Easy money easy profit will end quick.
CIBC already stated a few weeks ago that they took a heavy loss in the sub-prime mortgage market and are planning on passing on the loss to their investors, ie average Canadian. The way the financial institutions are all inter connected by owning shares from each other, and their reluctance to post anything but billions in profit, we in Canada will once more take it in the...
I've been saying for years that I don't know where the hell people are getting all their money: Cheap credit, easy loans, maxed-out credit cards(at 30% interest)etc, etc. And were not talking about ordinary modest homes. What I see are huge mansions with three-car garages and yards the size of a football field. The stock market and economy will implode. No amount of manipulation by the Fed or Bank of Canada will make any difference. They can wave their magic wands till their hearts content...
My house cost me 65,000 to build 15 years ago and now could sell for 250,000. I live in a polluted mining town. No house is worth that much here. How could folks have been so gullible to buy into this housing scheme. All it took was common sense to avoid being sucked in. I see cheap houses on the horizon.
If I was American I'd be voting Ron Paul. He's the only candidate with a plan to head this off and he sounded the alarm bell about this long ago but of course no one listened, not enough charisma I guess.
Hey maybe they will slash their JUNK MAIL budget. Gawd I get a lot of crap from Citi-Bank.
NO - DAMMIT ! I DON'T WANT A CITI-BANK CREDIT CARD !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
