RE: National bank stock progression 19-9-2008
Although listed as one of the top 6 -I believe that the BNC on the retail side is, at best, a provincial bank as apposed to what than the name implies - even on the financial market side it remains what should be qualified as a category B bank. The fact that the midget among the giants has, what is sure to be revealed over the next few years, the highest ABCP exposure proportionatly to any other canadian institution and handed control of the bank to the architect of this exposure - is the primary reason the shares have stagnated. Now that the Purdy Plan can go forward - it will most probably ease the tension within the bank ( at least on the short term). This will also ease the power consolidation that Jos Louis has been pursuing in the event that Friday's Supreme Court Decision would have permitted a challenge.
That's my take... any others?