Canadian vs. US Banks--Better PE and rising C$ Message Board

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Non-Tech : Canadian vs. US Banks--Better PE and rising C$

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To: marcos who wrote (185)	2/15/1998 1:02:00 PM
From: Zirdu	Read Replies (2) of 230

Marcos, what's this rumor I hear of CIBC and TD thinking merger? I see where both companies have denied it, but still, inquiring minds want to know. What's your thought on all this merger talk? By the way, I was watching a Canadian TV program the other day that was discussing this whole issue of mergers of Canadian banks. I got the impression that there was a lot more distrust among the Canadian people of the banks, than there is in the US. Two banks announcing merger in the US, no one would care. In Canada, it seems it is big news, with all sorts of supposed dire consequenses. What I don't understand is the Canadian fear of the big Canadian banks having too much clout, not doing "enough" lending to small business, charging too high fees, etc. Wouldn't the solution be simply to allow free competition, so all the efficient US and European banks could freely enter Canadian market, instantly creating a lot of competition, thereby benefiting all the Canadian consumers of Bank services?? What am I missing here? Thanks for your input here.

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