- TD Bank abruptly closed the accounts of several Iranian-Canadians saying it had to comply with federal economic sanctions against Iran. In May it started sending out letters saying, ”A recent review has identified you as a person TD is restricted from providing financial services to, from, or for the benefit of under these new regulations.” Glad I’m invested in Scotiabank…
- San Bernadino is the third California city to claim bankruptcy in less than two weeks (the other 2 were Stockton and Mammoth Lakes). One reader thought worrying about the future of the Vancouver film industry was “ridiculous”, but when 99% of our work comes from America… and California is the centre of the film industry… and it’s going bankrupt…
- CTV News is reporting that economic troubles in the U.S. are driving Americans North. In 2011 Ottawa approved 34,185 visas for U.S residents (the all-time record was 35,060 approved visas in 2010). In the past 2 years only 20,000 Canadians have moved to the U.S. (the lowest number in nearly a decade).
- The markets ended a 6-day losing streak on Friday with the Dow Jones up 1.6% in the States and the Canadian S&P/TSX Index up 0.8%.
- BNN is calling the LIBOR rate scandal “the largest scam in world history” that affects “literally hundreds of trillions (that’s right, trillions with a ‘T’) of financial instruments”. If you care to understand what it means, click the video below.
