• I'm happy to introduce the Styleforum Happy Hour, our brand new podcast featuring lively discussion about menswear and the fashion industry. In the inaugural edition, a discussion of what's going on in retail today. Please check it out on the Journal. All episodes will be also be available soon on your favorite podcast platform.

  • Hi, we have updated our Terms of Service and Privacy Policy in anticipation of the upcoming new Calfornia laws, the CCPA. If you are a resident of California, these rights pertain to you. Thanks - Styleforum Team.
  • STYLE. COMMUNITY. GREAT CLOTHING.

    Bored of counting likes on social networks? At Styleforum, you’ll find rousing discussions that go beyond strings of emojis.

    Click Here to join Styleforum's thousands of style enthusiasts today!

Why are your banks so s****y?

Recoil

Distinguished Member
Joined
Aug 13, 2007
Messages
1,837
Reaction score
25
Honestly. Like, months ago they wouldn't cash a money order even with a hold on it. Now they're all going out of business. Look to Canada for a responsible banking system. LOL.
 

Piobaire

Not left of center?
Joined
Dec 5, 2006
Messages
60,948
Reaction score
23,826
Originally Posted by LVoer
Honestly. Like, months ago they wouldn't cash a money order even with a hold on it. Now they're all going out of business. Look to Canada for a responsible banking system. LOL.

But you can buy beer 24/7 at the corner store in the US. And the LCBO really sucks hard.
 

crazyquik

Distinguished Member
Joined
May 8, 2007
Messages
9,081
Reaction score
42
Originally Posted by Piobaire
But you can buy beer 24/7 at the corner store in the US.

???


Not in the last three states I've lived in...
 

j

(stands for Jerk)
Admin
Spamminator Moderator
Joined
Feb 17, 2002
Messages
14,913
Reaction score
98
Originally Posted by Piobaire
But you can buy beer 24/7 at the corner store in the US.
What US are you talking about?
 

GQgeek

Stylish Dinosaur
Joined
Mar 4, 2002
Messages
17,931
Reaction score
84
Originally Posted by Piobaire
But you can buy beer 24/7 at the corner store in the US. And the LCBO really sucks hard.

This is true. It's a real pain in the ass trying to buy wine. If you want something specific, you have to order through the SAQ. You can't buy direct from the vineyard.
 

gnatty8

Distinguished Member
Joined
Nov 12, 2006
Messages
9,942
Reaction score
2,020
Originally Posted by LVoer
Honestly. Like, months ago they wouldn't cash a money order even with a hold on it. Now they're all going out of business. Look to Canada for a responsible banking system. LOL.

Investment banks are different than the quasi-governmental deposit banks in Canada dumbass. The closest you get to a Canadian bank in the U.S. is Bank of America and Citibank, and I think either could swallow the entire Canadian banking sector whole with the spare change they have lying around in executive offices.

Investment banks like Lehman and Morgan Stanley have not existed in Canada for some time, when Canadian chartered banks were permitted to buy securities dealers. This resulted in a banking model that looks like B of A, Citi, and Wachovia, which are all regulated more heavily than i-banks, and cannot use as much leverage as traditional investment banks could use. These aren't "banks" that are failing so much as large, institutional hedge funds, at least compared to the chartered banks in Canada.
 

Concordia

Distinguished Member
Dubiously Honored
Joined
Oct 6, 2004
Messages
6,702
Reaction score
1,011
Originally Posted by LVoer
Honestly. Like, months ago they wouldn't cash a money order even with a hold on it. Now they're all going out of business. Look to Canada for a responsible banking system. LOL.

You hate our freedoms.
 

Hazad

Senior Member
Joined
Nov 25, 2007
Messages
240
Reaction score
0
Originally Posted by gnatty8
Investment banks are different than the quasi-governmental deposit banks in Canada dumbass.

I've been amazed by the number of people who cannot fathom this distinction.
 

maxnharry

Distinguished Member
Joined
Feb 26, 2005
Messages
1,403
Reaction score
15
Originally Posted by Hazad
I've been amazed by the number of people who cannot fathom this distinction.

I think you're all being hard on the state of Canada and it's banking system.
 

Piobaire

Not left of center?
Joined
Dec 5, 2006
Messages
60,948
Reaction score
23,826
J and Crazy, I've lived in a few states now. Around the clock booze at "party stores." Remind me to stay away from your places!


And still...the LCBO really sucks.
 

A Canuker

Distinguished Member
Joined
Sep 11, 2006
Messages
2,456
Reaction score
573
Originally Posted by gnatty8
Investment banks are different than the quasi-governmental deposit banks in Canada dumbass. The closest you get to a Canadian bank in the U.S. is Bank of America and Citibank, and I think either could swallow the entire Canadian banking sector whole with the spare change they have lying around in executive offices.

Investment banks like Lehman and Morgan Stanley have not existed in Canada for some time, when Canadian chartered banks were permitted to buy securities dealers. This resulted in a banking model that looks like B of A, Citi, and Wachovia, which are all regulated more heavily than i-banks, and cannot use as much leverage as traditional investment banks could use. These aren't "banks" that are failing so much as large, institutional hedge funds, at least compared to the chartered banks in Canada.


That is pretty much it in a nut shell. Pure luck that Canada has avoided this for the most part and only due to the fact that we could not use leverage to the same degree.

That said it is not like the Canadian banking sector has gone with out its stories of losses and bad ideas. Thankfully our NY guys only went out drinking with the big US players once a week and not 5 nights or we would be just as hurting. When you hang around with the big boys your going to get into the same mess.
 

ama

Distinguished Member
Joined
Jul 14, 2008
Messages
3,823
Reaction score
54
Its a little scary that WaMu got destroyed buy a run on deposits though...
 

gnatty8

Distinguished Member
Joined
Nov 12, 2006
Messages
9,942
Reaction score
2,020
The deposit-taking banking model is grounded on trust and faith. That goes, there's nothing left.
 

Styleforum is proudly sponsored by

Featured Sponsor

How wide do you like your leg opening on your trousers?

  • 7”

    Votes: 74 16.9%
  • 7.5”

    Votes: 144 32.9%
  • 8”

    Votes: 130 29.7%
  • 8.5”

    Votes: 50 11.4%
  • 9”

    Votes: 20 4.6%
  • 9.5”

    Votes: 8 1.8%
  • 10”

    Votes: 3 0.7%
  • 10.5”

    Votes: 9 2.1%

Related Threads

Forum statistics

Threads
432,948
Messages
9,303,389
Members
195,245
Latest member
6-Anonymous-6
Top