Canadian Banks Are on the Roll Again.

[kryptic]

lol... so ya... a bailout, i sure as hell didn't sign paper work for my mortgage with the government, and hmmm, where did they get the money to buy the 'secured' loans? keep putting perfume on a pig, in the end its still a pig.

 

[AnnaG]

Canada's 75 Billion Dollar Bank Bailout Is the data wrong?

I see a faltering business and decide to buy half its remaining stock. Sure I get something for the money, but it's no less a bailout simply because if I didn't buy the stock, the business would likely have stumbled badly if not gone under. Simply because of the timing, I'd call it a bailout. What blows me away, is why would they need someone to buy the banks' "stock" if they had been making billions in profits for years before. Didn't they save for a rainy day? Apparently not. The poor babies. Life is soooo tough on them.

 

[Cannuck]

Bailout Definition | Definition of Bailout at Dictionary.com


Just because somebody on the internet says it isn't a bailout, that doesn't make it so.

 

[Kreskin]

Those are mortgages that the bank originally granted based on CMHC underwriting. Those mortgages wouldn't have qualified without the guarantees, and all parties on the mortgages acknowledged it when they were granted.