It's a small company, not on the same scale as MFG, not even close. I wouldn't be surprised if you went back over the records that this sort of thing has happened before - it just didn't get as much attention because you didn't have MFG in the mix.

That said, it bears watching, especially how the Canadian regulators handle it. I'd also keep an eye on Laurentian Bank. Apparently they have exposure, although it's probably small as well.

ebear