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  • Phi Asset Managers 6:57 am on March 4, 2015 Permalink | Reply  

    Canadian banks suffer short storm as investors’ sentiment sours ahead of earnings 

    Financial Post

    TORONTO — Investor sentiment in Canadian banks has begun to sour ahead of earnings this week as short interest positions in the stocks have jumped and analysts have begun to get increasingly skittish about their prospects in a weakening Canadian economy.

    Canadian financials have been the worst performing among the 10 major sectors on the benchmark stock index year-to-date and the sector has fallen nearly 5% in the last three months. Some investors now fear that the banks, a major component of the financial sector, could be in for more pain.

    “The Canadian banking sector is under pressure due to tight net interest margins and slowing loan growth. When you look at the amount of leverage banks have on their balance sheets, they are a bit at risk right now,” said Kevin Headland, director of capital markets & strategy at Manulife Asset Management.

    [kaltura-widget uiconfid=”23273481″ entryid=”0_upzlwl3z” ]

    Canada’s three largest…

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  • Phi Asset Managers 6:57 am on March 4, 2015 Permalink | Reply  

    Loonie’s crash may revive ‘extinct species’ in Canada – U.S. tourists 

  • Phi Asset Managers 9:57 am on March 3, 2013 Permalink | Reply  

    Policy Interns

    The short answer is: maybe.

    On Wednesday, during the Senate Banking Committee hearing, Senator Elizabeth Warren grilled Federal Reserve Chairman Ben Bernanke on the $83 billion implicit subsidy that big banks receive from low interest rates. That night, Fox Business News’ Gerri Wilson misquoted the figure, expressing outrage over the “$83 trillion dollars, you know, I can’t get over that number.”


    Both women were alluding to the $83 billion figure calculated by the Bloomberg View’s editorial team last week. This “too big to fail” (TBTF) subsidy refers to the advantage that big banks receive in borrowing because creditors assume the government will bail them out should they fail.

    As the debate over how to address risk in the financial system continues, the question over the existence and the size of this subsidy will doubtlessly be revisited time and time again. Understanding the rationale behind these figures is important for informing…

    View original post 420 more words

  • Phi Asset Managers 9:56 am on March 3, 2013 Permalink | Reply  

    Professional Bank Services

    ImageIn recent years, bank compliance procedures have been at the forefront of modern business activities. Government regulators frequently use reports provided by financial institutions to track criminal activity. The regulations in place that require financial institutions to report certain types of information to the public also protect customers against improper banking procedures.

    This portion of the financial services industry has been growing at a rapid pace in recent years. If you are interested in pursuing a profitable career in the financial services industry, you should consider pursuing a career within this field. Before you can help government regulators catch criminals and banks employing illegal record keeping procedures though, you will first need to learn the basics of bank regulatory practices.

    Bank compliance officers are typically subjective third party observers of the activities banks engage in. In this way, they can help financial institutions be certain they are compliant with all…

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  • Phi Asset Managers 9:56 am on March 3, 2013 Permalink | Reply  

    Abilene Alternative News

    We don’t need them, they prey off of us. Hang the bankers.
    Read Story Here:

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  • Phi Asset Managers 9:55 am on March 3, 2013 Permalink | Reply  


    download (7)


    Rather than delaying reform of derivatives for banks that are backed by federal deposit insurance (thus making the taxpayer liable for paying for investment banking risks), why not take away the commercial part of these investment banks?  Investment banks make the risky bets and investment banks should pay for their own risks without any help from taxpayer insurance.

    Better yet, outlaw altogether all derivatives that are based on speculation!  The financial crisis of 2008 was directly a result of the use of toxic derivatives instruments called CDOs.

    JPMorgan to BofA Get Delay on Rule Isolating Derivatives

    JPMorgan Chase & Co. (JPM), Goldman Sachs Group Inc. (GS) and Bank of America Corp. won a delay of Dodd-Frank Act requirements that they wall off some derivatives trades from bank units backed by federal deposit insurance.

    Commercial banks including the Wall Street firms may get as long as an additional…

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  • Phi Asset Managers 9:55 am on March 3, 2013 Permalink | Reply  


    Every time a cash drawer flings open, a bankster gets more bling to blow on yachts, puffin on hydroponic blunts, straight rollin…holdin hands with the devil herself…and still I bought this Fiji water for two fifty retail in a non-reusable plastic bottle and threw it away for convenience’s sake…so hell, can I really blame anybody else but myself for the way this world revolves around gross profit sales?

    I’d love to blame it on the ca-ca-ca-ca-ca-capitalism, got me feelin lose with my eight hundred dollar paychecks…love to blame it on the student loans that got me in this deficit zone…but I can’t…not if I’m standing up, not if I’m deciding to be a man in this world of grown children, not since I have no plan to sit back down like some castrated wage slave…disillusioned…pacified all night all day with mindless entertainment…huddled away in some hi-def surround sound cave…soul pollution…left…

    View original post 110 more words

  • Phi Asset Managers 9:54 am on March 3, 2013 Permalink | Reply  

    ask maverick

    The Bankster though the latest book by Ravi Subramanian is the first on I read from his writings and left me hungry for more. I ordered all the other books written by him and finished them at record speed.

    The Bankster takes you into the murky side of banking, money laundering and corporate politics. The banks with whom we put both our money and trust are not exactly saintly and this book reveals to what extents they go to satisfy their hunger for business. This hidden truth about the financial institutions is brilliantly portrayed by Ravi through an intriguing & sinister plot and a suspenseful climax.


    Ravi intelligently uses his banking experience to reveal an inter woven story which will keep you flipping the pages all the way to the finish. The writing is simple and even though banking process have been explained, the author has made them easy…

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  • Phi Asset Managers 11:19 am on September 5, 2012 Permalink | Reply  

    Dear Whole Wide World 

    This is a public service announcement! Bank Of Montreal is a cesspool of fraudulent executives covering nearly all executive groups. To the extent anyone reading this is able to further bring these facts into the public spotlight, it would greatly advance the accountability of our in-Justice system. It only requires a small investigation into the facts to begin awakening to the unbridled fraud that has and will continue to occur by the Bank of Montreal.

    As part of this unfathomable corporate bank fraud the bank relies upon legal firms buying out our very justice system. All the while the Securities Exchange Commission fails at its job of protecting investors but clearly succeeds at the protection of the Wall Street Wrongdoers. In the current instance BMO hired a PR firm to lie to the public and BMO’s own shareholders for the private benefit of management. Further aided by the crony capitalist legal team of Sullivan & Cromwell.


  • Phi Asset Managers 9:14 am on August 2, 2012 Permalink | Reply  

    Mixed Readings on Consumer Confidence in July 

    Eye on Housing

    The Conference Board’s Consumer Confidence Index (CCI) and the University of Michigan Consumer Sentiment Survey reported consumer confidence moving in opposite directions this month. The CCI indicated a modest gain while the University of Michigan survey showed a slight decrease in consumer confidence versus last month. While the month-to-month changes for each index have not been entirely consistent with one another, the 3-month moving average of both indexes do reveal that consumer confidence has trended lower from multi-year highs over the course of the last few months. Nonetheless, the recent downward trend in consumer confidence is (at least thus far) smaller than the one observed a year ago when fears of a double-dip recession were quite high.


    Sluggish labor market conditions are a possible factor in explaining the downtrend in consumer confidence. According to the CCI, more than 92 percent of respondents have characterized jobs as either “not so…

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