provencapital's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/268167/comments http://seekingalpha.com/article/177733-who-says-there-were-no-canadian-bank-bailouts?source=feed#comment-802351 802351
The Canadian banks are at an assets to tangible net worth ratio (read leverage0 of 30 to one! Their return on assets is practically zero! Diversity of financial institutions be damned! Anyone every hear of too big to fail?

Defending the long term governemnt policies is ludicrous.]]> Fri, 11 Dec 2009 17:47:14 -0500
The Canadian banks are at an assets to tangible net worth ratio (read leverage0 of 30 to one! Their return on assets is practically zero! Diversity of financial institutions be damned! Anyone every hear of too big to fail?

Defending the long term governemnt policies is ludicrous.]]> http://seekingalpha.com/article/177733-who-says-there-were-no-canadian-bank-bailouts?source=feed#comment-802276 802276
Also, do not forget that the credit crisis in Canada actually began when the non-bank securitization conduits failed and the Canadian banks refused to honor their liquidity guarantees citing an out clause that there 'really wasn't a market disruption'. No kidding.

The Canadian banks are all about consolidation of power. ]]> Fri, 11 Dec 2009 16:56:28 -0500
Also, do not forget that the credit crisis in Canada actually began when the non-bank securitization conduits failed and the Canadian banks refused to honor their liquidity guarantees citing an out clause that there 'really wasn't a market disruption'. No kidding.

The Canadian banks are all about consolidation of power. ]]> http://seekingalpha.com/article/97158-goldman-sachs-buffett-s-the-milkman-and-he-always-delivers?source=feed#comment-264895 264895 Thu, 25 Sep 2008 12:12:06 -0400 http://seekingalpha.com/article/97006-paulson-bernanke-700-billion-at-hold-to-maturity-pricing?source=feed#comment-262955 262955
1.Mortgages that default are not worth zero.
2.Mortgages that pay are not worth 'par'.
3.There is no real market for these mortgages.
4.Just because there is no market (today) does not make the assets valueless.
5.Mark to market pricing is a disaster. Your house is not always worth what you could get if YOU HAD to sell your house in 24 hours.
6. epeat - some of these morgages have no real maket - period.
7.Yes, the taxpayers will take a hit. Some % of the bailout will not be recovered.
8.If 1/3 to 1/2 the financial institutions in America go insolvent, and business lending and consumer lending grinds to a halt, the tax payers will take a hit as well.
9.The plan is not perfect, but the alternative is mighty scary!]]> Tue, 23 Sep 2008 18:42:56 -0400
1.Mortgages that default are not worth zero.
2.Mortgages that pay are not worth 'par'.
3.There is no real market for these mortgages.
4.Just because there is no market (today) does not make the assets valueless.
5.Mark to market pricing is a disaster. Your house is not always worth what you could get if YOU HAD to sell your house in 24 hours.
6. epeat - some of these morgages have no real maket - period.
7.Yes, the taxpayers will take a hit. Some % of the bailout will not be recovered.
8.If 1/3 to 1/2 the financial institutions in America go insolvent, and business lending and consumer lending grinds to a halt, the tax payers will take a hit as well.
9.The plan is not perfect, but the alternative is mighty scary!]]>