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In this episode, TD Bank names Raymond Chun as its brand-new CEO in the middle of a $3-4 billion scandal related to anti-money-laundering concerns in the U.S. With CEO Bharat Masrani stepping down, all eyes are on Chun to solve the bank's U.S. regulative difficulties and lead its healing.
Likewise in this episode:
The Federal Reserve's current rate cut might be a warning sign for the U.S. economy, as previous cuts have frequently preceded economic crises.
The Canadian housing market stays in a holding pattern, with purchasers waiting for lower interest rates, in spite of a minor increase in sales last month.
Canadian employers are promoting more in-office work, with lots of now requiring employees to return at least three days a week, sparking resistance from unions.
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50sec ago?? 🫣
Masrani full responsibility = golden parachute. Worst managed bank in Canada for past 38 years. Its appalling when your bank (TD) sends you conflict of interest documents every month. With so many problems how come it took so long for them to get rid of him?
Because TD was still making money. Even if it’s illicit funds, the fine is a fraction less than the total amassed
It’ll take a while before they go back up…
Great video again. Thank you Sir.
Thanks for the video Marc. (i hope so too)
Seems to me that TD has a culture of playing very fast and loose with the anti-money laundering regulations. The government doesn’t just lay out billions of dollars in fines for no good reason. The new head of TD has a bigger problem than what he’s trying to spin to regulators and shareholders.
in office shift is likely productivity related. see too many employees stealing hours with minimal work output
RBC will be NEXT
You are over looking the fact that the fed is and always has cut in an election year. So not necessarily an indication of a recession
Lowering the bar too far for borrowing is what took down the US housing market in 2007-2008