Problem with the Gov.

[Armai]

 Yeah guys I know guild and politics do not mix but after reading this article I just wanted to share my outrage with you.

Government Expanding

 Anyhow hope you are as happy with that article as I am.

 

[TaichiPowerTapz]

Wow, just wow that is crazy, i agree it sounds like a back door to nationalization and a bad idea

 

[masterjedijared]

Hrmm...  I think I'm in-between on this.<div>
</div><div>On one hand, the gov't is never supposed to engage in "profitable" ventures like a normal citizen would.  It also half-way bugs me to see that there is a strong idea to nationalize the country's largest banks.  Capitalistic ventures are best left to capitalistic cause-and-effect.</div><div>
</div><div>However, the banks themselves have generally shown irresponsibility in the past two years now and probably should be brought under some heavy government oversight.  This produces in me the sincerest hope that our politicians would in turn not abuse this economic power themselves.  I'm not quite so naive though to think that a bunch of bored powermongers won't dip into the nation's guild vaults when they feel they need to feed their newest jollie.</div><div>
</div><div>Before anyone jumps on my response in regards to the politic, I'm niether democrat nor republican.  These are just my objective worries and I'm just posting them in hopes of fun convo

</div>

 

[Tryden]

As many of you know, I'm a business and finance journalist. I could write you an entire tract on this topic, because, well, it may not be my beat, but I report on it in some form almost weekly.

I advise people read about Canada's banking system to see where your banking system is heading. As a result of this recession Canada's starting to emerge as a banking model for other countries, and potentially a new global economic superpower.

Toronto Life feature - Toronto and the global economy

Wikipedia - Brief overview of banking in Canada

Time Magazine feature - Canada and bank bailouts

And yes, those articles and the topic are very related to Aribella's post.

Also, there's no way you can own bank equity in mass numbers at this point in preferred stock. So you can't avoid partial government ownership if they go down the route of purchasing bank equity as a means of bailout, because purchasing common stock is going to help the banks two-fold, and there's risk to tax payers whether it's pure cash or buying equity - it's still an investment. Like I said, read the articles, it's not that scary. And despite what some people might say there's a very capable administration in Washington right now.

Yes, there are a lot of ethical problems, everyone can see that. I'm just showing you there's precedent. Extremely successful precedent that's laughing all the way to the bank right now (I made an economic funny)

 

[Aemon Algiz]

Lord Tryden said:

As many of you know, I'm a business and finance journalist. I could write you an entire tract on this topic, because, well, it may not be my beat, but I report on it in some form almost weekly.

I advise people read about Canada's banking system to see where your banking system is heading. As a result of this recession Canada's starting to emerge as a banking model for other countries, and potentially a new global economic superpower.

Toronto Life feature - Toronto and the global economy

Wikipedia - Brief overview of banking in Canada

Time Magazine feature - Canada and bank bailouts

And yes, those articles and the topic are very related to Aribella's post.

Also, there's no way you can own bank equity in mass numbers at this point in preferred stock. So you can't avoid partial government ownership if they go down the route of purchasing bank equity as a means of bailout, because purchasing common stock is going to help the banks two-fold, and there's risk to tax payers whether it's pure cash or buying equity - it's still an investment. Like I said, read the articles, it's not that scary. And despite what some people might say there's a very capable administration in Washington right now.

Yes, there are a lot of ethical problems, everyone can see that. I'm just showing you there's precedent. Extremely successful precedent that's laughing all the way to the bank right now (I made an economic funny)

Hai Tryden, wat are these books? I mean the books you alluded to before editing your post.

 

[masterjedijared]

Tryden...<div>
</div><div>Stop trying to make me live in Canada under a visa, I ALREADY WANT TO!!!</div><div>
</div><div>Back on topic, *ahem* I think this is really interesting actually.  I of course love my USA but I'm never so stuck up as to think we won't be overtaken in some ways.</div><div>
</div><div>From the articles I can see why Toronto is pretty much all ready to become the next major major financial city.</div>

 

[Tryden]

Aemon Algiz said:

Lord Tryden said:

As many of you know, I'm a business and finance journalist. I could write you an entire tract on this topic, because, well, it's may not be my beat, but I report on it in some form almost weekly.

I advise people read about Canada's banking system to see where your banking system is heading. As a result of this recession Canada's starting to emerge as a banking model for other countries, and potentially a new global economic superpower.

Toronto Life feature - Toronto and the global economy

Wikipedia - Brief overview of banking in Canada

Time Magazine feature - Canada and bank bailouts

And yes, those articles and the topic are very related to Aribella's post.

Also, there's no way you can own bank equity in mass numbers at this point in preferred stock. So you can't avoid partial government ownership if they go down the route of purchasing bank equity as a means of bailout, because purchasing common stock is going to help the banks two-fold, and there's risk to tax payers whether it's pure cash or buying equity - it's still an investment. Like I said, read the articles, it's not that scary. And despite what some people might say there's a very capable administration in Washington right now.

Yes, there are a lot of ethical problems, everyone can see that. I'm just showing you there's precedent. Extremely successful precedent that's laughing all the way to the bank right now (I made an economic funny)

Hai Tryden, wat are these books? I mean the books you alluded to before editing your post.

Sorry sir, I didn't mean to say I could recommend books. Because as far as I know there are no good books about arguing for why Canada's banking system is more efficient than others. Because our banks are relatively "conservative", they never had the high returns that other national banks did, so I guess people felt they couldn't write convincing arguments for them (there might be books from around the '80s). I'm sure some are in the works now though

Also, I keep auto-saving my posts before I finish them so I don't lose them. Don't trust Guildportal

 

[Malietha Lavode]

I totally would have listened more but I started laughing the second "Canada" and "Superpower" were entered in the same sentence.&nbsp; Without a punchline or without referencing another country.&nbsp; Still laughing.&nbsp;&nbsp;














































Yep.&nbsp; Still laughing.&nbsp;&nbsp;&nbsp;