Canadian Banks—Myth and Reality
The Empire Club of Canada Addresses (Toronto, Canada), 3 Mar 1983, p. 258-268
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Canadian Banks—Myth and Reality

A response to the question "Are our banks safe?" The speaker's belief that we can no longer take it for granted that Canadian banks are safe. Reasons why. The possibility of a banking collapse; examining our own banks in a more critical way than we have in the past. A detailed discussion follows, divided into an examination of several myths about banking in Canada. The first: "Honesty, Thy Name Is Banker." A brief history of some colourful bankers in Canada's history. Other myths discussed: "Canadian Banks Are As Safe As, Well, Banks; Canadian Banks Are Competitive; Canadian Banks Are Over-Regulated; the Bank Is On Your Side; Canadian Banks Are Prudent. Advantages of the Canadian banking system. The speaker's complaint not that the Canadian banking system is a bad one, but that it is not nearly as good as it thinks it is. The need for more action and less arrogance. The need to see our major institutions as they are, not as they would like us to believe they are.