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  #1  
Old 02-13-2009, 03:28 PM
trent trent is offline
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Default Canadian bank going under?

With several major US banks practically insolvent, how likely do you think it is to see a Canadian bank becoming insolvent?
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Old 02-13-2009, 04:12 PM
sunshine sunshine is offline
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Not very likely just because in Canada we don't have as many banks as US. But still if a bank goes under do you know what amount of the deposits is insured by the government?
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Old 02-18-2009, 03:29 PM
trent trent is offline
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Quote:
Originally Posted by sunshine View Post
Not very likely just because in Canada we don't have as many banks as US. But still if a bank goes under do you know what amount of the deposits is insured by the government?
We can still see a bank failure in Canada when real estate collapse gathers some more speed. I think that the deposits with Canadian banks are insured for up to 100K per person per bank, but you better check if that's the case.
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Old 02-19-2009, 04:16 PM
Canadian Canadian is offline
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If this happens the government will step in and bail them out with our tax money. The bankers win no matter what.
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Old 02-23-2009, 03:28 PM
trent trent is offline
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If this happens the government will step in and bail them out with our tax money. The bankers win no matter what.
Yes, most likely they'll bail them out if things get out of hand, however the trust in the fiat financial system will be all gone at this point.
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Old 02-24-2009, 01:40 PM
bullish bullish is offline
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Canadian bank going into bankruptcy - this will never happen.
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Old 02-27-2009, 03:49 PM
Canadian Canadian is offline
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Canadian bank going into bankruptcy - this will never happen.
You are right that it will never happen, but for the wrong reasons. You think that there is no chance of Canadian bank going bankrupt because you falsely assume that our banks are safe, which is not the case. The reason this will never happen, is because they will be bailed out in a heartbeat.
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