RE:RE:RE:Bought out at $40 a shareexcept the banks don't want to be in this business.
that is why Home Trust and EQ exist.
the banks don't want to be lending to this sector. they want low risk loans funded by cheap deposit money. the only real risks they take are when they invest in the US and abroad. their Canadian ops are easy source of profits- i.e ever increasing fees and low GIC rates.
its true they don't want real competition, which is why the Bank Act makes it so
restrictive for foreign banks to set up shop in Canada.