Scrutiny of the financial industry has been on the rise in recent months, fuelled in part by CBC News reports alleging unscrupulous practices at Canada’s big banks. The CBC’s findings may not have been surprising to insiders, who have been witness to the industry’s indiscretions for years. What is surprising
A very well spoken Cenk Uygur of the Young Turks explains the truth about the difference between Canadian banks and the American banks.
On Dec. 6, 1941, while Europe was engulfed in a war that saw Germany control all of Western Europe except Britain, Americans were spending an ordinary Saturday, wrapped in their collective isolationist blanket. Whether getting some Christmas shopping done, listening to game shows on the radio, or taking in a
The recent global financial crisis did more than ravage investment portfolios, wipe out employment and force people out of their homes. It also obliterated trust in the financial services industry by the people who use it most – investors. A new international study says a mere 53 per cent of
Rising interest rates are bad — very, very bad. That’s the prevalent message being made loud and ominously clear to investors as markets brace for the inevitable end to the ultra-loose monetary policies south of the border and elsewhere around the world. The warning, while important to heed, doesn’t quite
We like to think of ourselves as rational beings, but when it comes to investing our own money we can all get a little loopy. In a recent poll by BMO, two-thirds of respondents admitted they are not in total control of their emotions when making investment decisions, and most
First, it’s necessary to decide how you want to deal with these precious metals. (I’m adding silver into the discussion, though other metals, like platinum and copper, are also significant.) People have been using them for coinage and ornamental purposes for thousands of years; early civilizations like the Sumerians and
Andrew MacLeod is part of demographic that apparently is being priced out of Canada’s housing market, but that didn’t prevent the 34-year-old from finding a way to buy his first home. MacLeod and his wife, 33, overcame current economic hurdles such as high property prices, tighter lending conditions and shaky
In the wake of a class action lawsuit, the federal government now says it will provide a “credit flag” service for nearly 600,000 Canadians whose data was lost in November. But it is not the same level of credit protection it advised those affected to get, and pay for themselves.
Almost half of all Canadians have opened a tax-free savings account, according to a survey released last week by CIBC. That’s a remarkable take-up considering that TFSAs haven’t even been around for four years. That’s the good news. The bad news is that about half of those people aren’t actively