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Please find attached a link to an interview with Anthony Scilipoti, President & CEO of Veritas, commenting on the implications of Moody’s downgrade of Candian banks and the overall health of the Canadian financial sector:

 “Economic Headwinds”   

“… If house prices stop going up … then individuals can no longer refinance to keep their spending up … they no longer think themselves wealthy and then spend as much … there is no longer a need to build a new property if you can’t make money on that property – so there is less employment … that will be the unintended consequences of a dampening of prices.”

Please click here to watch CBC.  Segment begins at 0:35 with Veritas commenting at 6:45.

For more information on Veritas or  to our research, please visit our website at www.veritascorp.com 

                 

Veritas Investment Research Corporation
TD West Tower, 100 Wellington Street W, Suite 3110, PO Box 80, Toronto, ON M5K 1E7
T 416.866.8783 | F 416.866.4146 | www.veritascorp.com