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

[Recoil]

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.

 

[garmentmerchant]

Ive got mine neatly stacked undernieth my mattress

 

[Piobaire]

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]

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...

 

[jaytix9]

what bank are you talking about?

 

[j]

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]

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 ********** 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]

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]

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]

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]

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]

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]

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]

Its a little scary that WaMu got destroyed buy a run on deposits though...

 

[gnatty8]

The deposit-taking banking model is grounded on trust and faith. That goes, there's nothing left.