CNN Complaining

[albertGQ]

Originally Posted by Mr. Ski

To quote http://www.cdic.ca/?id=100

The Canada Deposit Insurance Corporation (CDIC) is a federal Crown Corporation. It was created in 1967 to provide deposit insurance and contribute to the stability of Canada's financial system. CDIC insures eligible deposits at member institutions (up to $100,000 per depositor) and reimburses depositors for the amount of their insured deposits when a member institution fails.

To be eligible for insurance, deposits must be in Canadian currency and payable in Canada. Term deposits must be repayable no later than five years from the date of deposit.

As a consumer, you do not have to apply for deposit insurance. Subject to coverage limits, eligible deposits held with a CDIC member institution are automatically insured.

To date, CDIC has provided protection to depositors in 43 member institution failures. As at April 30, 2004, CDIC insured some $376 billion in deposits.

ATB Financial insures 100% of your deposit, regardless of amount. That is one of the advantages of being backed by the provincial government

[Clarkey]

Originally Posted by Vulcan

Well Clarkey, every regular Joe don't have enough spare change hanging around to invest in oil companies.

I believe in putting controls on companies that practise taking unconscionalble profits and price gouging from a monopolistic industry.

I think your beef should be with OPEC then. It's not a monopolistic industry either, a monopoly implies one firm operating in an industry.

Should people/governments be giving money back to oil companies when they have a bad year, quarter etc.?

Why are people so obsessed with government intervention?

[Vulcan]

Originally Posted by Clarkey

I think your beef should be with OPEC then. It's not a monopolistic industry either, a monopoly implies one firm operating in an industry.

Should people/governments be giving money back to oil companies when they have a bad year, quarter etc.?

Why are people so obsessed with government intervention?

Hey, I'm not obsessed with govt. intervention. I was no fan of Trudeau's intervention on the oil industry but when prices get out of line in any industry I believe there should be some checks and balances. The rising price of oil and gas is going to contribute to inflation and no one wants a return to 18% mortgages.