Canada envy, amid a global meltdown

[lone wolf]

Banker ... Insurance company.... Both the same sort of leech. Is a rate that climbs from $541.78 per year to $938.33 per year - for no better reason than they felt like it - exorbitant? Does it matter if my record is squeaky clean? It really doesn't matter to me if you can afford to pay through the nose. I live on a disability allowance. Only in big money is gouging considered as acceptable business practice.

 

[Lester]

Banker ... Insurance company.... Both the same sort of leech. Is a rate that climbs from $541.78 per year to $938.33 per year - for no better reason than they felt like it - exorbitant? Does it matter if my record is squeaky clean? It really doesn't matter to me if you can afford to pay through the nose. I live on a disability allowance. Only in big money is gouging considered as acceptable business practice.

Hey Lone, did you apply for a "disability parking permit" lately?
my brother did and his insurance company found out and jacked up his rates. I think he's going to Alberta Human Rights over it.

 

[lone wolf]

Hey Lone, did you apply for a "disability parking permit" lately?
my brother did and his insurance company found out and jacked up his rates. I think he's going to Alberta Human Rights over it.

Had mine for a few years now ... but just changed the address. Hmm.... I'll look into that angle. Aviva and I are going to lock horns yet - even if it is a mean-mouthing type war....

 

[#juan]

Banker ... Insurance company.... Both the same sort of leech. Is a rate that climbs from $541.78 per year to $938.33 per year - for no better reason than they felt like it - exorbitant? Does it matter if my record is squeaky clean? It really doesn't matter to me if you can afford to pay through the nose. I live on a disability allowance. Only in big money is gouging considered as acceptable business practice.

Just to spread the blame around a little bit......Back in the good old days a young man would spend two hundred dollars on a car and around fifteen hundred for just basic liability insurance to get the car on the road. Insurance companies had learned that young male drivers had the worst driving records. When Dave Barrett brought in ICBC, my rotten, crooked, private insurance company was charging me something like $105.00/year for basic coverage. I had had a clean record for ten years but in three years ICBC tripled my insurance rates though I still had a clean record.

 

[Tyr]

Gilbert, exorbitant, excessive it is all a matter of perspective isn’t it? What may be exorbitant in your opinion may not be exorbitant in my opinion.

Besides, I don’t think Canadian banks are making any more profit than other similarly well managed companies of similar size. So who decides if it is exorbitant or excessive?

the point being. Banks provide a "quasi" public service. Proctor and Gamble or Raytheon don't. Hence their profits possibly could be capped at 20%.

 

[SirJosephPorter]

the point being. Banks provide a "quasi" public service. Proctor and Gamble or Raytheon don't. Hence their profits possibly could be capped at 20%.

Tyr, I don’t know how it is historically, but at least this latest quarter bank profits were a lot less than 20%. So I am not sure that capping bank profits at 20% will make any practical, any noticeable difference.

 

[Tyr]

Tyr, I don’t know how it is historically, but at least this latest quarter bank profits were a lot less than 20%. So I am not sure that capping bank profits at 20% will make any practical, any noticeable difference.

If you base than on a historical quarter by quarter basis, they were less than 20%. It's because they have always been "extremely healthy"

Possibly another index could be used

 

[petros]

Speaking quarters. If a quarter were still silver you'd still be able to buy a gallon of gasoline with it.