Banks stretched thin GRAND OPENING SALE

From Page 4

the rot at the national level.

Canadian banks, like
banks the world over, are
stitched into the fabric of the
most complex financial
structure in history. Without
going — again — into the
whole story about how or
banks behaved like carnie
shills in the wake of the oil
crisis, eagerly ushering whole
Third World nations into
staggering debt while turning
down smal! business loans to
Canadians who were far bet-
ter risks, let me just note as
calmly as possible, that the
chickens seem to be coming
home to roost.

ROOSTED HERE

And some of them, Io and
behold, roosted right here in

Bon J. Schmidt
_ ‘Barrister & Solicitor
“ wishes to announce the relocation
of his office as of Oct. 1, 85 to
1877 Duchess Ave.
West Van., BC.
: 925-1058 ©

the coffers of West Van-
couver’s municipal treasury.

All the banks are stretched
right now, whether anybody
likes to admit it or not.
That's the real reason two of
them were allowed to go
under. And why are they
stretched so thin? Well,

there's this marvellous bank-
ing phrase, ‘‘over-exposed,”"
which sounds like a reaction
to sunburn, but which means
that even us local folk can’t

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escape the eventual conse-
quences of our banks’ col-
lective behavior overseas.

Me, I'm inclined to keep
my money in a sock under
the bed. Of course I don’t.
Mow, gee, where did I stash
that equity? Also, the inter-
est is REALLY bad in a
sock.

And nebody -expects a
municipal council to bury its
gold under the floorboards.

But it’s something to think

about.

ee a ey a

CELEIELISIE

+t

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9 - Wednesday, October 9 1985 - North Shore News

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