MGSC05H3 Lecture Notes - Lecture 1: Scotiabank, Canadian Imperial Bank Of Commerce
Document Summary
4 of 5 banks in canada tried to make mergers amongst themselves. They had to get approval from the government to move forward. The public media claimed that the banks were going to win this proposal, because they believed that the big players of the economy would make it certain that the proposal would pass. From public policy point of view: many people believed it to be good with merging. Conservatives are more concerned with business and market success. Leftist are more concerned about nationalism; the reason is historically anti-american->pro-canadian->control over government and business. Ndp (new democratic party) were having problems with the banking sector with the transaction fees, they would only have the power over them if the banks are canadian companies. * psychological (framing issues: the banks were thinking in the st, whereas government were thinking in lt. government did not like how they were trying to take control.
