Just like the previous financial crisis and the subsequent shadow banking crisis began in the US, storm clouds are brewing in Canada. First, it was Home Capital Group losing 70% of its deposits last week, then it was Equitable Group Inc. losses announced today. –read both stories for the bloomberg link
https://www.bloomberg.com/news/articles/2017-05-01/home-capital-s-next-hitch-is-keeping-cash-crunch-under-control
Now, a mysterious explosion just outside a Royal Bank of Canada branch location.
#explosion at 20 king west Toronto #rbc @CBCNews pic.twitter.com/mnqVKh7wBy
— mike amsterdam (@plutoisnumber9) May 1, 2017
I swear in this one.
This was 20 seconds after first explosion. I had just walked across those grates. pic.twitter.com/MoJj4Aa10w— mike amsterdam (@plutoisnumber9) May 1, 2017
http://www.zerohedge.com/news/2017-05-01/toronto-police-close-downtown-streets-after-explosion-near-rbc-offices
Now these stories are being picked up…
http://www.huffingtonpost.ca/2017/05/01/home-capital-contagion-financial-system-canada_n_16365938.html.
h/t hoolascoop