Canadian Banks

So far three of the big five Canadian banks have released their earnings for this period and they are quite impressive given what has been going on all over ther world with bank bailouts.

TD Canada Trust - $712 million dollar profit - Q1
RBC - $1.05 billion dollar profit - Q1
CIBC - $147 million dollar profit - Q1

If this isn't a sign of the strength of the Canadian financial system I don't know what is. While CIBC's profit would be considered unimpressive a few years ago, this is quite significant compared to the $1.46 billion loss they took for Q1 last year.

Considering that the UK has been dumping billions into their banks and the US is easily in the trillions, Canadian banks have not taken one dime from the governement and are posting profits. Yes, that's right, profits.

I think this is prime opportunity for Canadian banks to start buying up some great financial opportunities in the US. This is exactly when the strong need to take over the weak. Maybe its just me, but its time to stop being so frightened and make a few bold moves to increase our position of strength in the world.