If discount brokerages have been losing money in Canada, why do the brokerage arms of the Big 5 banks account for 30%+ of the profits in the last 2 years. Someone is full of chit here.
Forget about the computer online system. They can't even get phone -in orders right. That system is down 20% of the time now too.
CSI hasn't protected me once in 20 years of trading. They continue to uphold the rights of crooks and con artists over the rights of shareholders, so back off on that one. I don't think we need them. Then again I'm not the housewife you keep speaking of,...they are probably a lot better traders than you or I, because I am told, they buy and hold good quality companies. I doubt they are the ones causing the trading problems.
Several discount brokers in the states guarantee trades in 30 seconds or less or free according to CNBC and they pay the difference if the trade doesn't get filled at the lower rate quoted. I suppose they invested more in their equipment, or perhaps had better management.
My business has been under siege for a decade. It's one minute or free, with a smile, and if the food is crap, it's free again. Banks and brokers have to get some competition and start feeling the pain. Then wimps like you will really have something to complain about.
Go bi*ch at your mother honey, the rest of us are fed up with high paid bankers and brokers complaining. You are the only poster here defending the big profit banks and brokers. Perhaps you should reassess your loyalties. Maybe you should come down here and console my bank manager of 20 years who just got the severance package after being with the bank for 28 years. She's 48 now, too young for retirement, too old to start again and the bank making billions per year is just giving her a severance, cause they are closing branches everywhere to cut costs and give the bigwigs a bigger bonus. The branch has more customers go through it,...seniors, mall employees, locals etc,. but that not cost effective,..we should all be using the internet, phone, instant teller,...except the damned things are down all the time.
There is always some turkey who will defend the rich and greedy, and I guess you are it for this thread.
Cheers, russett
russett |
