Financial Post: Toronto is North America's Top Financial Centre

mentalfloss

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bob the dog

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Not that I really care, but since there are people here that looooove the economy stuff so much...


Who knew? Toronto the Boring is now North America's top financial centre, next to New York​

Canada's biggest city is adding bankers, portfolio managers and other finance types faster than any other in North America

Because it is the most unregulated market in the world with no related federal oversight or intervention.

Beyond the purview is the answer they give while they turn a blind eye to the gross money making schemes of their beloved banking community. What power does an elected provincial official have in regulating short selling amongst the major banks.

Calls for a national securities watch dog have been on going since 1964 and last reviewed in 2009. Someone is dragging their feet on that one. Maybe to do with the $50 billion in annual profits of the banking industry. They are not your friend.
 
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bob the dog

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Top financial center and yet I am unable to purchase shares listed on the London Stock Exchange through the Royal Bank. If I can find someone to help me it is 250% higher transaction fee. Still worth it to get away from New York imo.

99% of all Canadian investment dollars flow through New York via Toronto. Canada has 170 foreign embassy's but only one with banking privileges of the USA.

This is why Canada is Canada and the mess it is in. All they want is your money.
 
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mentalfloss

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Because it is the most unregulated market in the world with no related federal oversight or intervention.

Beyond the purview is the answer they give while they turn a blind eye to the gross money making schemes of their beloved banking community. What power does an elected provincial official have in regulating short selling amongst the major banks.

Calls for a national securities watch dog have been on going since 1964 and last reviewed in 2009. Someone is dragging their feet on that one. Maybe to do with the $50 billion in annual profits of the banking industry. They are not your friend.

They actually chalk it up to being heavily regulated, which is why Canada's banks weren't as affected by 2008.
 

bob the dog

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They actually chalk it up to being heavily regulated, which is why Canada's banks weren't as affected by 2008.
2008..... another year of record profits.

People talk about Canadian banks being profitable as if they were well run institutions catering to their target market and they like that spin. Major investors talk about Canadian banks being profitable because of practices like naked shorting that they are allowed to get away with. Not one variable does not work in favour of the banks. They appreciate the trust we show in them.

Banks are provincially regulated although anti combines legislation is federal. Fancy accounting reduces taxes paid to minimal amounts. Better off without them.

Question is why do we think we need to have so much money?
 

mentalfloss

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You can say what you want about Canadian banks but unlike the US banks, Canadian banks aren't in a hurry to foreclose on your mortgage the moment you slide into default territory.

 

Toro

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Danbones

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Not the accusation comes from a commie institution.
What I am reading there though in the numbers and outcomes is that Canada is the leading money laundering country in the world, and that is just one example of how the money moves in that context.

Any mention of US tarp payments there to Canadian banks?

"It went on to say that one-third of Canadian banks’ funding came from these global credit markets that had dried up. And that’s where the bailout actions came in: They were measures taken by the Bank of Canada, the CMHC and the U.S. Federal Reserve designed to make Canadian banks “liquid” in the face of a credit crisis.

So the banks’ logic is circular: They were never in danger of collapsing, they say, because they got the guarantees they needed to make sure they didn’t collapse! Amusingly, the CBA seems to have admitted that the banks were in danger in the very note where it argued they didn’t need/didn’t get bailouts...."
 

taxslave

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No, cause the babushkas aren't eating the beans of production.

Communism hasn't actually happened anywhere yet.
With any luck it never will. Russia, China, Cuba and a long list of other thugocracies are examples of what happens when communists overrun countries.George Orwell was pretty close to the mark on the evils of communism.