World's 50 Safest Banks 2009

lol Aren't swiss banks meant to be the safest in the world because of how they don't even let the governments get into their clients' accounts or something?

I think socialism and communism can't really work for governing a country or economy, that's easily said and seen, well, that's if you disregard Cuba of course. But I do think for some reason that it may well have a place in regards to governing banks and it may be just the thing we're looking for to keep those things in check.

The problem is a lot of the 'socialist' or 'communist' countries and governments you hear about ( mainly being accused of being by the loudest neo-con Americans surprise surprise ) or have seen in history often don't follow at all the very ideals they are touting. Not only that as we saw with the Soviet Union the system largely became corrupt and didn't really follow any ideal at all. So I don't think we can really say yet what works and what doesn't because we haven't actually seen it all yet.
 
Covertibility, I'm not sure if Canada is what you define as a socialist country, but I will tell you this much. I live in Calgary, Alberta and I have travelled in most of the states in the US and I have been in almost every major city in the United States except for those in the extreme southeast. In terms of standard of living, Calgarians are better off than practically any American major centre, and in many cases it isn't even close. Unemployment is relatively low, and a very small percentage of the population would be considered poor by American standards.
And yes, we do have universal health care!
Last winter, my wife and I travelled to Texas, and one thing we did notice is that many of the really nice buildings (by our standards) were the enormous medical complexes in the larger cities. I can see what American health care dollars are buying. Too bad life expectancy figures and infant mortality figures aren't nearly as impressive.
I note also that ALL of the major Canadian banks are on the list of 50, and they are conservative in their lending policies. They deserve to be on the list and have ample reserves set aside for loan losses.
Come on up and see for yourself. We've got a very good thing going up here. I guarantee you'll be impressed. The scenery is worth a good look, too!
 
but, but, but.....
Its so damn 'cold' up there
:)


Quote from JohnGreen:

Covertibility, I'm not sure if Canada is what you define as a socialist country, but I will tell you this much. I live in Calgary, Alberta and I have travelled in most of the states in the US and I have been in almost every major city in the United States except for those in the extreme southeast. In terms of standard of living, Calgarians are better off than practically any American major centre, and in many cases it isn't even close. Unemployment is relatively low, and a very small percentage of the population would be considered poor by American standards.
And yes, we do have universal health care!
Last winter, my wife and I travelled to Texas, and one thing we did notice is that many of the really nice buildings (by our standards) were the enormous medical complexes in the larger cities. I can see what American health care dollars are buying. Too bad life expectancy figures and infant mortality figures aren't nearly as impressive.
I note also that ALL of the major Canadian banks are on the list of 50, and they are conservative in their lending policies. They deserve to be on the list and have ample reserves set aside for loan losses.
Come on up and see for yourself. We've got a very good thing going up here. I guarantee you'll be impressed. The scenery is worth a good look, too!
More...
 
Why do you think we travel to Texas, California, Arizona, or Hawaii in the winter?

By the way, the temperatures this week are predicted to be in the 80's every day. Our summers are actually quite pleasant, and the mountains are beautiful and only an hour away.
 
I always see a zillion Candians in Mexico in February
:)

Quote from JohnGreen:

Why do you think we travel to Texas, California, Arizona, or Hawaii in the winter?

By the way, the temperatures this week are predicted to be in the 80's every day. Our summers are actually quite pleasant, and the mountains are beautiful and only an hour away.
More...
 
Quote from Wallace:

have to wonder what Global's criteria is for rating banks
also don't think one can rate banks in isolation, one has to first rate the country's
financial system as a whole thereby understanding how banks function within
the system - what they can and can't do - get away with ??
a major difference between Canada/US banks is mortgage regulation and the
extract below explains some of that; don't know if Canadian banks are into CFDs,
derivatives, etc or what if any Canadian regulation controls or prevents their use
haven't heard much about them

'Know Thy Neighbor: What Canada Can Tell Us About Financial Regulation'
Pietro S. Nivola, John C. Courtney : The Brookings Institution
"Second, the requirements for mortgage loans are relatively stringent.
Down payments of at least 20 percent are ordinarily required, unless the bank
obtains mortgage insurance through the Canada Mortgage and Housing Corporation.
The CMHC exerts a prudential influence over mortgage underwriting. Banks rely
extensively on it for default insurance, which is conditioned on comparatively strict
criteria for creditworthiness. (Private insurers operate as well, but they, too, are
held to relatively exacting standards since they benefit from a partial government
guarantee.) Sub-prime mortgages are not unheard of in Canada, but the stiffer
standards for lending have kept them to a minimum. In 2006, for example, sub-primes
amounted to less than five percent of the country’s total mortgage originations,
compared to over 20 percent in the United States."
http://www.brookings.edu/papers/2009/0423_canada_nivola.aspx
More...

Canadian banks also are required to keep a larger percentage of deposit reserves which helps to reduce crazy leverage.
 
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