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Letters  

Bank profits outrageous

Can anyone explain how our banking systems can generate billions of dollars in a single quarter? That's “B” for billions...in one quarter!

For the fourth quarter, BMO reported $2.2 billion profit, TD Bank a $3.8 billion profit and CIBC a $1.4 billion profit.

Just over a year ago, people were being charged by the police for price gouging and re-selling essential items at a profit due to the pandemic. How can this not compare?

There are a million seconds in 11 days. There are a billion seconds is 32 years.

If you had a $1 million and spent a $1,000 a day, you'd be out of money in three years. If you had $1 billion and spent a $1,000 a day, you'd be out of money in 2,740 years.

Don MacKinnon, Vernon



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