[shockedcanadian]

Thanos Thanos:

I`m not a conservative. Conservatism is a lap-dog ideology that worships the wealthy globalist elite in order to get a few morsels and treats thrown it`s way as a reward for being the good little subservient pets that they are. I`m a nationalist, and I have no patience anymore for the greedy financial sector fucks that raped our countries to death and deliberately harmed as many of our people as they possible could. I only want to live long enough to be around to see the day arrive where they all get what they deserve.

Did you take your meds today? A little bit too much hyperbole.

The finance industry is the backbone of business, if not a major enabler of successful companies. Lack of competition in this area doesn't help us, it does help the finance field. They should be forced to accept some risks, shared risks with businesses within a reasonable range as long as the return on this risk is profitable.

Regulations have a place in protecting investors, taxpayers, or where warranted, society from harm such as in our foods or other products in the farming industry and heavy toxins. Regulations which stifle competitive and alternatives are the enemy to consumers, innovation and economic progress. This is a government policy issue which must change if we are to have any credibility. This goes for accountability of so-called security agencies that don't help our nations interests.

You are angry at the wrong entities. Globalization works in the favor of Canada (if we learn to adapt, which we haven't) for the very simple reason we are already a developed nation that is in demand by the best and brightest. If you visit India, yes you can obtain cheap labour, but try and find paved roads and highways. Same with China, who have admitingly done a much better job of foreseeing their weaknesses, but are still at a disadvantage and now have a major debt risk issue. The increase in their yuan which they tried to stifle for so long, is harming them also.

I believe in patriotism and love of country (where warranted), I don't believe in protectionism. Which is why my personal experiences are so vital, once you abuse human rights and citizens pursuits, you will lose a key advantage that drives others to want to move here and contribute. More paramount, I don't believe in unaccountable, fascist covert police agents who harm their own citizens and our closest allies.

I guarantee you Canada will pay a steep economic and social price for this, if they haven't already.

[shockedcanadian]

DrCaleb DrCaleb:

shockedcanadian shockedcanadian:

Conservatives like free markets, socialists and communists don't.

You can set up strict policies and requirements for all banks before they can offer a mortgage, and more importantly before CMHC taxpayer funded support kicks in, that is protecting investors and taxpayers. There should be little to no restrictions on who can compete in this space. The reasons for this defy free market policies and hark back to the false narrative we sell to other nations but don't embrace ourselves.

You know who to blame for this.

Sooo, "strict policies and requirements" on mortgages is that socialist or communist? Oh, wait, those are the anti-conservative restrictions on a 'free' market. But in the sentence before that, you claimed Conservatives like free markets? So that makes you a ____________

What part of my posting did you ignore? You can regulate to protect investors and taxpayers, because that is defending against fraud and illegal actions, ponzi schemes and the like, you must not deny access to those who want to engage in this industry.

As I stated, if I have $100B dollars and I want to engage in this industry, why must a bureaucrat determine if I am worthy of this or not? it's the "bridge" in which government has played the role of protectionist and gatekeeper. When Thanos talks about greasing politicians, he fails to fathom that such activities might already be in place to protect the current restricted financial system. "here's a big donation to your party, let's make sure we don't have any competition". Competition is the greatest benefit to consumers, a burden on businesses. Businesses despise competition, as it forces them to innovate, adapt and be creative. Consumers are hurt far too often in Canada while other nations with entrepreneurial spirit and innovation continue to lead the world.

Why can't someone privately run a bank and offer better rates and accept higher risk at lower return? What is it about capitalism that some of you find so offensive?

[Thanos]

shockedcanadian shockedcanadian:

Thanos Thanos:

I`m not a conservative. Conservatism is a lap-dog ideology that worships the wealthy globalist elite in order to get a few morsels and treats thrown it`s way as a reward for being the good little subservient pets that they are. I`m a nationalist, and I have no patience anymore for the greedy financial sector fucks that raped our countries to death and deliberately harmed as many of our people as they possible could. I only want to live long enough to be around to see the day arrive where they all get what they deserve.

Did you take your meds today? A little bit too much hyperbole.

The finance industry is the backbone of business, if not a major enabler of successful companies. Lack of competition in this area doesn't help us, it does help the finance field. They should be forced to accept some risks, shared risks with businesses within a reasonable range as long as the return on this risk is profitable.

Regulations have a place in protecting investors, taxpayers, or where warranted, society from harm such as in our foods or other products in the farming industry and heavy toxins. Regulations which stifle competitive and alternatives are the enemy to consumers, innovation and economic progress. This is a government policy issue which must change if we are to have any credibility. This goes for accountability of so-called security agencies that don't help our nations interests.

You are angry at the wrong entities. Globalization works in the favor of Canada (if we learn to adapt, which we haven't) for the very simple reason we are already a developed nation that is in demand by the best and brightest. If you visit India, yes you can obtain cheap labour, but try and find paved roads and highways. Same with China, who have admitingly done a much better job of foreseeing their weaknesses, but are still at a disadvantage and now have a major debt risk issue. The increase in their yuan which they tried to stifle for so long, is harming them also.

I believe in patriotism and love of country (where warranted), I don't believe in protectionism. Which is why my personal experiences are so vital, once you abuse human rights and citizens pursuits, you will lose a key advantage that drives others to want to move here and contribute. More paramount, I don't believe in unaccountable, fascist covert police agents who harm their own citizens and our closest allies.

I guarantee you Canada will pay a steep economic and social price for this, if they haven't already.

Yet most of the time your conservative politicians will do everything they can to weaken or outright abolish regulations that protect investors, account holders, taxpayers, food safety, farm safety, workplace safety, children's safety, environmental cleanliness, and a million other nuisance regulations and laws that society over the years rightly put into place to keep the overall health of the nation safe from the greed of the elite that care only about more money and more power. Do you really think that the rest of us haven't been paying attention over the years as you Reaganites proudly sell out anything you can in order to make another buck off of someone else's misery?

[DrCaleb]

shockedcanadian shockedcanadian:

Why can't someone privately run a bank and offer better rates and accept higher risk at lower return? What is it about capitalism that some of you find so offensive?

I love Capitalism. It's unregulated Capitalism, like you propose, that freaks me out because I see what it does in the US and to a certain extent, Canada.

And to answer your first question, ask ING/Tangerine. Oh, wait, that's exactly what they did and were successful at, isn't it?

[shockedcanadian]

So you would rather prefer so many regulations that businesses can't compete or grow and only large corporations can afford the legal team to abide by said regulations or incur the costs of any violations. This, rather than decreased regulations that allow small businesses to become mid sized companies and beyond?

Hey, you must be from Ontario!

As the great Sir Churchill said: "The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries."

Regulate to the minimum and only for specific purposes. The use of regulations in Canada has been to control competition and reward government patsies, cronies and nepotism. Here's my guarantee, Canada will lose the economic battle at this rate, what will follow will be some form of social damage which won't be easy to recover from.

[Lemmy]

shockedcanadian shockedcanadian:

Why can't someone privately run a bank and offer better rates and accept higher risk at lower return?

For the same reason you can't open up a brain surgery clinic when you haven't been to medical school.

[DrCaleb]

shockedcanadian shockedcanadian:

So you would rather prefer so many regulations that businesses can't compete or grow and only large corporations can afford the legal team to abide by said regulations or incur the costs of any violations. This, rather than decreased regulations that allow small businesses to become mid sized companies and beyond?

Yes, because that's what I wrote.

shockedcanadian shockedcanadian:

Regulate to the minimum and only for specific purposes. The use of regulations in Canada has been to control competition and reward government patsies, cronies and nepotism.

Oh really! So where do things like the Sydney Tar ponds come from? Why, as the use of GMO grains increases do we see increased incidence of gluten allergies from those grains? Why are the pesticides used to control those grains being linked to the deaths of the pollinators that let those grains produce? Why is Teck Resources being fined for dumping chemicals into the Columbia river?

Which Parliamentarian croney got his payoff from those? Which competition is stifled from those regulations?

Just stop typing.

[shockedcanadian]

DrCaleb DrCaleb:

shockedcanadian shockedcanadian:

So you would rather prefer so many regulations that businesses can't compete or grow and only large corporations can afford the legal team to abide by said regulations or incur the costs of any violations. This, rather than decreased regulations that allow small businesses to

Oh really! So where do things like the Sydney Tar ponds come from? Why, as the use of GMO grains increases do we see increased incidence of gluten allergies from those grains? Why are the pesticides used to control those grains being linked to the deaths of the pollinators that let those grains produce? Why is Teck Resources being fined for dumping chemicals into the Columbia river?

Which Parliamentarian croney got his payoff from those? Which competition is stifled from those regulations?

Just stop typing.

I stated that regulations to protect health were among reasonable regulations. How does this apply to restricted competition on the financial markets?

Communism didn't succeed for clear reasons. Big government is rarely if ever the answer, especially if it is used to control the marketplace.

[DrCaleb]

shockedcanadian shockedcanadian:

How does this apply to restricted competition on the financial markets?

Lemmy answered that question, and your response I quoted did not restrict itself to financial markets.

[shockedcanadian]

DrCaleb DrCaleb:

shockedcanadian shockedcanadian:

How does this apply to restricted competition on the financial markets?

Lemmy answered that question, and your response I quoted did not restrict itself to financial markets.

Brain surgury requires an advanced, very specific skill set and knowledge base. One mistake and patients die or are permanently harmed without any hope of recovery. it is literally life and death, you are allowing an invasion of your body, putting faith in their skills. Not that these industries don't skirt the laws as we recently saw with Ontario patient information data theft that was sold by certain nurses.

I can take a large number of Canadians, hire them without any financial experience, in fact many banks do just that; and teach them systems and basic concepts. Furthermore, if someone is risking their money it is their risk, not the risk of the consumer, certainly not risk to ones life.

If we wanted to nit pick, this would mean noone can run their first business if they didn't have a business degree. Risk is business comes from the investor and owner, risk in brain surgery is incurred by the patient, this is the key difference. If you dump poison into the water local communities can die, if you open up a bank and fail or lend out bad loans you pay a price as the owner taking the risk. It's not as if an investor is somehow above the law, they still need to stay within the rules. It also isn't as if the current financial industry are the only global players who know how to run a bank.

Canada is clearly a protected economy that tells others to open up their doors to business and human rights while refusing to do so themselves. Maintain state control of the financial industry and pat citizens on the head while beaming about how we are protected due to this benevolent support by bureaucrats and covert clowns.

[peck420]

shockedcanadian shockedcanadian:

How does this apply to restricted competition on the financial markets?

The only restrictions on competition, in Canada, are the regulatory restrictions.

If you need assistance on starting your own financial institution, please go to the following website:

http://www.osfi-bsif.gc.ca/Eng/fi-if/Pages/default.aspx

If you wish to proceed directly to the Guide for Incorporating Banks and Federally Regulated Trust and Loan Companies, please use the following link:

http://www.osfi-bsif.gc.ca/Eng/fi-if/app/aag-gad/Pages/instguide.aspx

[shockedcanadian]

peck420 peck420:

shockedcanadian shockedcanadian:

How does this apply to restricted competition on the financial markets?

The only restrictions on competition, in Canada, are the regulatory restrictions.

If you need assistance on starting your own financial institution, please go to the following website:

http://www.osfi-bsif.gc.ca/Eng/fi-if/Pages/default.aspx

If you wish to proceed directly to the Guide for Incorporating Banks and Federally Regulated Trust and Loan Companies, please use the following link:

http://www.osfi-bsif.gc.ca/Eng/fi-if/app/aag-gad/Pages/instguide.aspx

Right. Do you not think that some of the largest banking institutions in the world would be avoiding the Canadian market if they felt there was a hope in hell they could open their own institutions here on a level playing field?

You might recall a number of years ago when some Canadian banks wanted to merge and the government said no. one of he arguments at the time was that it would reduce competition and force government to allow more foreign sources to enter the banking industry here.

[Thanos]

The same banks that wanted into Canada but were refused entry later went on to trigger the US housing meltdown, which nearly set off another great depression. And these are the guys you want to let loose in our country?

[DrCaleb]

shockedcanadian shockedcanadian:

DrCaleb DrCaleb:

shockedcanadian shockedcanadian:

How does this apply to restricted competition on the financial markets?

Lemmy answered that question, and your response I quoted did not restrict itself to financial markets.

Brain surgury requires an advanced, very specific skill set and knowledge base.

And that's why you aren't a brain surgeon.

Lemmy Lemmy:

shockedcanadian shockedcanadian:

Open up and deregulate the banking industry

What was it that saved Canada, economically, during the sub-prime meltdown in 2007? I forget.

[Lemmy]

shockedcanadian shockedcanadian:

Brain surgury requires an advanced, very specific skill set and knowledge base. One mistake and patients die or are permanently harmed without any hope of recovery.

Regulating the money supply and managing credit markets also require an advanced, very specific skillset. Likewise, one mistake and it's 2007 again.

You clearly haven't that skillset, so as Doc said, time to stop typing before you make yourself look any more ignorant than you already have.