Canadian banks now find themselves among North America's largest topping US banks
 

Just read a story that I thought might interest some people up in Canada and in the US.
Turns out that due to the collapse in the value of major us banks, Canadian banks now find themselves among North America's largest.
The Canadian banks have been helped by a national banking system that has remained profitable in the midst of calamity elsewhere, particularly in the U.S. Previously huge U.S. banks such as Bear Stearns and Lehman Brothers have gone belly-up. Merrill Lynch and Wachovia had no choice but to give in and be purchased.
"Canadian banks have remained profitable, outperforming their peers, because of tighter government restrictions on lending and capital requirements," it said.
If you like to read it, the link to the story on CTV web site is http://www.ctv.ca/servlet/ArticleNew...hub=TopStories

and on the CBC web site at http://www.cbc.ca/canada/toronto/sto...ada-banks.html
Who would ever think that the smaller Canadian banks will pass giants such as Citigroup and AIG in value ?
Crazy but these are the times.

I'm sure it will eventually go the other way again but, living in Canada and being Canadian this is good news. I think?

Until the US starts bombing you.

Imagine Royal or TD able to buy Citicorp. Not that they would but if they wanted to ?
:1orglaugh

Yes Canadian banks are top in the world right now due to the way they were regulated.