MGSC05H3 Lecture Notes - Canadian Imperial Bank Of Commerce, Scotiabank
Document Summary
The capacity to deal with the government is something that is sought by companies regardless of industry. Regardless of the size of your business or what industry you"re in, the ability to deal with the government is important, even if you don"t specialize in it. Four of the five banks 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 would make it pass. From a public policy point of view, many people believed it to be good with merging. One word is globalization and the other is sovereignty. The internationalization of banking and economy made it difficult for the 5 big banks to be a player, they needed to merge to become more influential.
