Word: torontos
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...winsome, consistently abused Latika (Freida Pinto). Salim is a type-A troublemaker, a fighter and conniver, restless and reckless, and thus the ideal complement to Jamal's caution, sensitivity and resilience. These flashbacks constitute the body of a sharp, teeming, dark, very romantic film. (See other films from the Toronto Film Festival...
...world. The U.S. came in at No. 40, and Germany and Britain ranked 39 and 44, respectively. (Switzerland was No. 16, just ahead of Namibia.) "For Canadian banks, having higher capital ratios than anyone else in the world is a source of pride," says analyst Mario Mendonca with Toronto-based investment bank Genuity Capital Markets. (Read "Four Steps to Ending the Foreclosure Crisis...
Another factor that helped make Canada the new gold standard in banking was Ottawa's decision in the late 1980s to allow commercials banks to acquire investment dealers on Toronto's Bay Street, the country's financial hub. As a result, these institutions are subject to the same strict rules as commercial banks, while U.S. investment dealers are subject to only light supervision from the Securities and Exchange Commission. Morgan Stanley and Goldman Sachs, of course, will now be under the U.S. Federal Reserve's supervision since they have been chartered as bank-holding companies...
Canada's banks make bad investments on occasion. When Toronto-based CIBC, Canada's most aggressive big bank, took $3.5 billion in charges against the U.S. subprime debacle, federal regulators quickly arrived on the scene. But here's the difference: CIBC ended up selling $2.94 billion worth of its own shares in the first quarter of this year to shore up capital reserves. "The relationship between government and banks is a positive one," says Minister of Finance Jim Flaherty. "We have a lot of discussions and regular meetings. The common goal is a sound financial system...
...global economy was flying high, Canadian banks complained about not being allowed to merge to become more significant international players. "In hindsight, that decision may have saved Canada from having a Royal Bank of Scotland on its hands," says Lawrence Booth, a finance specialist at the University of Toronto's Rotman School of Management, referring to the overly ambitious bank's bailout earlier this month by the British government...