What am I on about this time? The Big Five. These are the banks I'm talking about:
- Toronto Dominion Bank
- Canadian Imperial Bank of Commerce
- Bank of Nova Scotia
- Royal Bank
- Bank of Montreal
Notice a pattern? Do I have to spell it out? Somewhere in the 1980's, the Bank of Nova Scotia thought they sounded too provincial, they wanted to break into the national banking fabric of Canada that knows no borders. They become Scotiabank. The other corporate moneybagmen took note, and before you knew it, they'd all changed their names:
Canada's big 5 (yes, we still count Scotiabank in the mix) no longer wanted to sound Canadian. I guess the global banking fabric that all international moneybagmen crave couldn't bear the thought that their money was associated with Canada.
Since a merger in the '90s, TD is stuck with the new name TD Canada Trust, but I'm sure they'll find a way to dump that moniker. RBC? Well, Americans certainly don't want to deal with anything Royal now do they? As for CIBC, we'll just have to treasure our memories of Anne Murray crooning the theme song "You can count on the Commerce." And BMO just makes me laugh. Sounds like Beemer, kinda pop-hip like J-Lo. But if they want an acronym, shouldn't it be BOM?
So I guess Canadian bankers have no faith in Canada's financial stability and the much maligned Loonie. Sad when our financial leaders want to pretend they're not really part of that little colony above the U$A. Or is it just me?
Thanks and good luck.
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