{"id":14457,"date":"2011-03-17T21:12:52","date_gmt":"2011-03-18T01:12:52","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=14457"},"modified":"2011-03-17T21:12:52","modified_gmt":"2011-03-18T01:12:52","slug":"march-17-2011","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=14457","title":{"rendered":"March 17, 2011"},"content":{"rendered":"

The Irish government is upset about its zombie banks<\/a>:<\/p>\n

Irish Prime Minister Enda Kenny said it\u2019s \u201cgrossly unfair\u201d that taxpayers alone should carry the cost of bailing out the country\u2019s banks as he pushed for lower rates on a European-led rescue loan.<\/p>\n

Kenny, on a visit to Washington where he says he\u2019s trying to repair Ireland\u2019s \u201cdamaged\u201d reputation, called for changes to the rescue package by the European Union and the International Monetary Fund to avoid a situation where Ireland struggles to pay back its loan and can\u2019t generate economic growth.<\/p>\n

\u201cIt is grossly unfair to expect the taxpayer to have to pay 100 percent for the reckless lending practices of banks which caused this in the first instance,\u201d Kenny said yesterday in an interview with Bloomberg Television\u2019s \u201cInBusiness With Margaret Brennan\u201d that will be broadcast today. The 5.8 percent average rate Ireland pays for its loans is \u201ctoo severe,\u201d he said.
…<\/b>
Kenny stopped short of saying who should pay along with taxpayers. Asked about the treatment of senior bondholders, Kenny said that his government will put no additional cash into banks \u201cuntil you see the scale of what the liability is, until there is an understanding of what might be here.\u201d<\/p><\/blockquote>\n

There was cheering in B-Comm classes across Canada today as Harris Fricker, CEO of GMP Capital, demonstrated that you can achieve enormous success on Bay Street without the ability to construct a coherent argument<\/a>. There’s really not much worth quoting, but here’s the conclusion:<\/p>\n

We cannot help but feel that a major opportunity has been lost to preserve a distinctly Canadian success story. Will the acquisition by the LSEG imperil our markets or impede the formation of capital in Canada? Not at all likely. Is the loss of the standalone status of the TMX regrettable in the face of its success to date and its potential going forward? Undeniably.<\/p><\/blockquote>\n

There is no support for either concluding assertion in the preceeding mish-mash of unrelated statements.<\/p>\n

Mr. Fricker’s effort demonstrates:<\/p>\n