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There are no effective curbs on the amount of money a bank can manufacture via a few keystrokes of the computer. Banks have turned service charges into a major profit center with wonderful fees that ding you every time you use your account - and every time you don't (didn't that used to be called saving?).And there's more, much more, that award-winning veteran journalist Walter Stewart has unearthed about the Canadian banking system, which is undergoing an extensive review during the next two years. The powerful big banks have mounted a steady, systematic effort to take over the trust, brokerage and insurance industries in Canada, have worked at bankrupting small business owners by refusing or calling in loans, and are quickly becoming accountable to nobody.In an expose that is as timely as it is provocative, Bank Heist cracks open the safe and we thought secure world of the Canadian banking industry, to reveal that the vault is piled high with fat profits that came out of our pockets.
This book investigates the systemic lack of accountability and predatory profit-seeking practices within the Canadian banking industry. Veteran journalist Walter Stewart utilizes his investigative background to examine how large financial institutions manipulate monetary policy, consolidate power across insurance and brokerage sectors, and disproportionately impact small business owners and individual consumers through aggressive fee structures.
What You Will Find
The text provides a critical, journalistic examination of the Canadian financial sector during a period of significant regulatory review. Its focus on institutional power dynamics and consumer impact suggests a polemical approach intended to inform the public about the hidden costs of modern banking practices.
Page Count:
288
Publication Date:
1997-03-01
Publisher:
Harper Collins Canada
ISBN-10:
0002554429
ISBN-13:
9780002554428
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