Poloz Dream Thinking – HCG just a start of unravelling

May 15th, 2017 · 1 Comment · Canadian Real Estate Carnival

In a act which can only be compared to putting a bandaid on cancer, Stephen Poloz assured the world that Home Capital Group is unique and the situation is contained.

Stephen you need to get out more, and talk to people who aren’t going to echo your group think.

First of all, let’s start with Home Capital Group. The banks started the run because their financial advisers/advisors withdrew all their client’s money over the $100,000K CDIC insured limit. This was not Grandma & Grandpa running down to Oaken to get their money out.

HCG is finished. They have no business and everything else is just continuing CPR long after the corpse is dead because no one wants to tell the family the guy has passed away.

You need to figure out the Bezzle

All the policy makers need to go to the unpopular guy in the office that makes everything work, and figure shit out. You need to take your giant Canadian moose heads out of the snowbank, and stop wish thinking it’s over. It’s barely started.

On some level we all know the bezzle is there, lurking.

  • It’s on all the signs at every intersection, offering 2nd and 3rd no credit check equity mortgages.
  • Frenzy of people buying homes
  • It’s in the complete failure of FSCO and the victimization of countless small investors in the syndicated fraud crisis. This is just barely even started.
  • It’s in Home Capital Group
  • It’s in general income verification fraud that happens on a ton of mortgages
  • It’s just like almost every ad on TV is about real estate, real estate investment.
  • Half or more the newspaper is real estate.
  • Listings are spiking and sales are down.
  • Credit is tightening.
  •  People are just kind of waking up and seeing that houses are way over priced.

Mr. Poloz, We’re on a rollercoaster, you’d better stop hiding and start driving

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