A4 - Friday, April 20, 1984 - North Shore News Strictly personal by Bob Hunter until the end of this month, when the current Quarter ends, whether Canadian banks are starting to seriously bleed as a result of the world debt crisis. But they have already begun to hurt Their combin- ed profits of $481 million at the end of January, which the NDP thinks 1s unholy, was down nearly five per cent from the previous quarter When Brazil went 90 days overdue last month on a $6 6 milhon loan, the Toronto- Dominion immediately felt the pinch. The four other ma jor Canadian banks have eyen more at stake in Brazil than the T-D, but because of slack disclosure standards, none of them even mentioned the problem tn recent profit statements. In all, Canadian banks have loaned about $14 billion to Latin American countries Regulators have told analysts to expect higher loan losses this year from the toreign sector, which should come as no surprise since there are more than 30 Third World and East Bloc countries which are already in arrears More than 40 per cent ot Canadian bank assets are in vested abroad In case yOu were wonder ing, the Bank of © anada has the biggest exposure. But the troubled Bank ot BC has loaned a total of $92 million eeding debts tk WON'T KNOW creator of new jobs. usually depends on the banks for the finanetng of his enterprises He has a right, too, to wonder what the hell the banks are doing with the in- terest he pays Beonomist Floyd Sully argues that our banks sop up the deposits otf individual ‘‘Foreign adventures of Canadian banks put the deposits of Canadians at risk. And who asked us if we wanted to take the chance?’’ to Brazil, Mexico, Venezuela and Argentina Against this the political question of whether the average Cana- dian is being shortchanged by our banks 1s timely The people most affected, of course, are the jobless, many of whom promptly lose their homes because they can't make payments But the smal businessman the background, Main Canadians in order to invest in ventures abroad, mostly in Latin America. It is pertectly legitimate to wonder just how secure these investments are The fact 1s that the foreign adventures of (Canadian banks put the deposits of Canadians at risk And who asked us if we wanted to take the chance? Sully thinks that the 40 per cent of Canadian bank assets invested abroad should be Celebrate Easter with our Feelings of te coldd Easter is Sunday i 4 OP... / - v4 ra \ ~~ 7 10 ati to 5 pm > | VEST VAN FLORISI 1821 Marine Drtve Spring April 22nd ad L be. bode, ieys u 22 50 feeotag 7) WICYLS. 12 50 \ AER SUNDA, 922 4171 Weat Vas ouves 922 3800 repatriated and used at home to support Canadian in- dustry. He doesn’t think it’s nice of our banks to finance resource-based projects in Latin America that are in direct compettuon with our own beleaguered forestry and mining industries Canadian banks don't face quite the same kind of jungle the rest of us do. The govern. ment guarantees their con- tinued) profitable existence through income tax exemp- tions They preach an open economy, but have worked out a comfortable near-cartel arrangement for themselves I don't buy the leftwing view that profits are inherent- ly evil. The banks have to be profitable, otherwise they won't attract shareholders Record bank profits, when most of us are clawing the hard, hard ground, make me disquietingly envious, but | appreciate the theory Envy aside, the perils of Canada’s banks are my perils and yours If the bankers have behav- ed like carme shills, eagerly ushering whole nations into quasi-bankruptcey at a time when loans officers were sternly turning down small business Joans to Canadians who were far better risks, then they should be publicly flogged, even if it is agreed that cutting off their hands for usury 1s a trifle too {ranian. At least, | guess it 1s , AL a mack 6 Crackdown starts TODAY MARKS more than the start of the Easter season i's the start of a province-wide crackdown on drinking-drivers. And that means police departments on the North Shore will be joining counterparts throughout B.C in keeping a close watch for impaired drivers tor the next tour weeks The only thing you can expect, say pohce in North and West Vancouver, is the unexpected as departments mount roadblocks and road-side checks on a ran- dom basis. While they'll trating on those places where there is) a traditonal problem with impaired drivers — such as the late might) hours on weekends near licenced establishments — police will also appear throughout the community to conduct spot checks during the four weeks be concen- times and Dr. M. Saleh Abusaidi Psychologist mempe: sca ana apa announces the opening of nis office at 217-2438 Marine Drive West Vancouver Phone 925-1121 Office Nours Mon Fri by appointment Area of specialization Chlid, Adolescent and Family With Love for your EASTER BUNNY FLOWERS ’ trom . Jeye OVC florists € q Dollar Shopping Centre 929-4822 World-wide Delivery Open Sun April 22 c f.. 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