Hard Times ahead for banking industry
No it's not about crude oil market, the scenerio I see is mortgage financing business drying up that could lead to housing bubble burst in major flip cities such as Vancouver and Toronto. I hope some of these smaller loan lenders such as the HCG and EQB mortgage trust meltdowns would not spread to a credit crunch like the US subprime disaster in 2008. No one knows for sure at this time.