The Government Shifts $50 Billion in Under-performing Mortgages to C.M.H.C

The big 6 banks rapidly escalating loan loss provisions are proving to be insufficient — why and how is this possible?

It would seem that there is real a plan in the works to re-enact the 2008 Jim Flattery playbook, by projecting their bad debt onto the average taxpayer.

Professionally conducted appraisals would have undoubtedly mitigated these billion $ losses. Looking forward, maybe these banks will start sharing their billion $ quarterly profits.

Please take a few minutes to review the link attached below, which includes a highly informative video.

We look forward to your comments!

https://business.financialpost.com/real-estate/ottawa-to-buy-up-to-50-billion-in-mortgages-in-move-that-harkens-back-to-2008?video_autoplay=true

Moreover, please see below an informative discussion about the coronavirus by leading health experts at McGill University.