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Monthly Archives: October 2016
Sobriety coming to Canadian realty markets
As we have seen repeatedly throughout history, highly levered housing is full of downside for buyers/borrowers, the economy and taxpayers (thanks to government-backed mortgage insurance). Finally the Canadian government has announced that it wants to introduce ‘risk-sharing” with lenders. What … Continue reading
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Cross-selling model under scrutiny across finance sector
It’s not just Wells or Morgan Stanley…the entire sales-insaitable finance sector is rotten. See: “Many other banks around the country will have to review their own sales practices if they want to avoid regulatory scrutiny.” Some further insight into this … Continue reading
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Abusing our trust is the business model of modern finance
Following on the story of how aggressive cross selling requirements spurred employees to abuse customers and commit fraud at Wells Fargo, this week the Massachusetts Secretary of the Commonwealth William Galvin accused Morgan Stanley of “dishonest and unethical conduct” within … Continue reading
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