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Sunday, June 02, 2013 

Canada's Bank CEO's Are Among Highest Paid ... Good Thing That Harper/Flaherty Sunk $114 BILLION Tax Dollars Into The Banks ...

Progressive Bloggers

"Canadian bankers were among some of the highest-paid banking executives in North America last year, with three in the top 10, according to a new list compiled by Bloomberg Markets magazine. In all, six Canadian bank CEOs were in the top 20."

"Canada's biggest banks accepted tens of billions in government funds during the recession, according to a report released today by the Canadian Centre for Policy Alternatives. Canada's banking system is often lauded for being one of the world's safest. But an analysis by CCPA senior economist David Macdonald concluded that Canada's major lenders were in a far worse position during the downturn than previously believed.

Macdonald examined data provided by the Canada Mortgage and Housing Corporation, the Office of the Superintendent of Financial Institutions and the big banks themselves for his report published Monday.

It says support for Canadian banks from various agencies reached $114 billion at its peak. That works out to $3,400 for every man, woman and child in Canada, and also to seven per cent of Canada's gross domestic product in 2009. The figure is also 10 times the amount Canadian taxpayers spent on the auto industry in 2009.
CBC - April 30, 2012

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