Gold and Silver Juniors, Mid-tiers and Producers Message Board

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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: Land Shark who wrote (61734)	10/20/2008 12:37:34 PM
From: hank2010	Read Replies (3) of 78411

Don't get much news in these parts re Canadian banks and regulations etc. However I do hear that CIBC (about 20% of the Cdn banking industry???) is up to their eyeballs in sub-prime paper. This is the same bank that almost went broke years ago by financing Dome Petroleum's arctic natural gas exploration. And the same bank that had a loan officer in Toronto, for whom Vegas casinos were sending private jet every week-end. FBI notified RCMP who notified CIBC who said "nothing wrong here!" Of course, eventually the truth came out and the guy went to jail. Government for the people and by the people requires vigilance by the people. IMO it has been missing for a while in the US. I hear smatterings of scandal and corruption emanating from Canada also, but will take your word for it that overall Canadians have done a good job.

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