RE:RE:please listen to this videothese were structural failures and really embarassing for me to see how a big bank was brought down by the ceo. the ceo knew exactly what was going on and did nothing. he really should have been fired a long time ago and i am pretty sure the board was also as complacent. the board needs a complete haul or clean up as clearly there are dumbos sitting there.
to top it all off they appoint a new ceo internally. i really wonder what was their main reason to hire Ray. to keep a lid or control of this matter...
I really wonder if the management started helping the justice dept only after they got investigated and probably when their lawyers advise the executives that they could be jailed as well.
guys i am going to research this over the weekend much more, talk to some of my richer friends but i think its very obvious why people were selling td today and reinvesting into bmo and other banks. there is absolutely no need to get involved in this. i am very likely going to sell at open on tuesday, take a loss and move on. probably invest in bce, bns and some other stocks. TD can keep their stupid dividend to themselves. this is several years mess easily 3 years to 5 years and mgmt is also saying 2025 transition year and multi year expense. there are too many questions and possible issues later on.
i will now also say that i think TD will probably go down much more and become the third or fourth bank and will not be the second biggest bank. i have a feeling bmo and probably Bns will have a higher market cap than TD over the years. bmo is 93B right now and TD is 137B. if TD comes to Cad$55 and BMO goes higher like Cad$150 it is very possible that BMO can overtake TD. Bharat is a disgrace and leaves a legacy of a criminal.