Thursday, August 30, 2012

The big five Canadian banks all boost dividends … times are tough?

All five of our big banks boosted dividends in a move that has not happened in a very long time. This amid soaring profits in what is supposed to be a difficult market, if you believe their own marketing spin.

In a spectacular statement of the blindingly obvious, the Canadian Community Reinvestment Coalition gave this penetrating analysis …


Remember that funny Monty Python song about Dennis Moore that ends thusly?

Dennis Moore, Dennis Moore
Riding through the land
Dennis Moore, Dennis Moore
Without a merry band
He steals from the poor
And gives to the rich
Stupid bitch

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So what does that make the banks? Or perhaps the financial industry as a whole?