Quote:
Originally Posted by robaur
You know what TD said in its press release is complete and utter dog piss combined with a heavy pile of horse ####.
What other factors are going on that are preventing them from dropping the prime rate? If they were so important then why was there not an additional explanation or press release detailing these incredibly important factors.
It's just lip service from the banking industry and a chance to protect their bottom line earnings.
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I don't work for TD, but you sure seem to have a bone to pick with the Banking industry.
I'm not sure what line of work you are in, but I will say Banks are in the business to make money. We have shareholders that demand profitability.
None of this has to do with BoC cutting the overnight rate, but you seem angry at a more fundamental level. I'm just curious are banks supposed to operate at a loss or breakeven level? How long do you think that would last? If you want to be more of a member and share in all that, there are credit unions you may find more to your liking. But then you are probably going to want them to be profitable right?
This post is not to defend from a soapbox, but I could throw stuff back at you. Are you equally as outraged that airlines haven't dropped flight prices despite lower fuel costs?