Friday, April 10, 2009

Five Banks That Don't Suck : Slate magazine

Slate:
Answers to your questions about the news.

Five Banks That Don't Suck

A nice article on some pretty good banks that avoided the problems in subprime and credit default swaps. However , if you are looking for sound banks go Canadian. The smash up in oil led to a hard drop in the value of the "loonie" the canadian dollar and also a hard hit to Canadian bank stocks. Even though the Canadian banking system is probably the soundest in the world due to sound regulation that was actually enforced. Recovering oil prices should help the currency come back and allow the equity market to improve taking pressure off prices of the many very sound banks in Canada.