Such a move could send shock waves across bank share prices. Though recent polls showed that the majority of Canadians were indifferent to the mergers, provided that the quality of service that they're receiving does not change for the worse. Nonetheless, approving the measures will be an immensely unpopular move, and the banks' arrogance towards the issue will not sit well with the Liberals. Unlike the U.S., Canada has one of the world's most concentrated banking systems in the world. The thought of 3 banks controlling virtually all banking activity is scary to contemplate.
My feeling is that bank shareholders are in for a surprise... |
