JES and MF, interesting theories!

John, we have not had spectacular failures and bailouts, but our banks have had significant write-downs because of their exposure to the sub-prime mess. Most analysts I have read feel there is more of that to come. And I recently posted how RBC, Canada's largest bank, has had to admit to selling dodgy credit instruments while hiding their risky nature. Sound familiar?

Even though much is made of our Bank Act and the transparency of it all, these public companies have not disclosed what their exposure is. We are lacking in regulations in this regard.

Cheers,

Bluenoser