Thursday, August 04, 2005

Ya, I'll Give Some of My Fortune Back

As an expected follow up to the post The cost of avoiding liability just went up, it looks like some shareholders are a little pissed at John Hunkin.

If I was a shareholder, I would go after Hunkin, I would also go after CIBC itself for acting like surprised fucks at this settlement, unless of course it was all initiated after Hunkin left. Wow, a bank that screws its customers and its shareholders.........that's a business model to grow on.

2 Comments:

Anonymous Anonymous said...

According to the report in the Post today, if it had gone to trial, their advisors envisioned a potential judgment of $10B+, $20B+ or more. So this $2.4B settlement is seen as a real deal. Ha! Hunkin is under a rock up at Muskoka - Hold the newspaper deliveries!! What a wreck.

9:57 PM  
Blogger Josh Kerbel said...

Always good to minimize your risk and exposure, that isn't really the issue (well ok, it is - the bank should have not been doing what it was doing).

This real issue is the timing.......this will be a test of the passivity of the Canadian investor. If Hunkin gets off with a token slap on the wrist, it will be a sad sad day

7:23 AM  

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