4min chapter

The Loonie Hour cover image

The Default Cycle Has Just Begun

The Loonie Hour

CHAPTER

The Market Cap of Swiss Banks Is Very Small, Right?

The market cap of Swiss banks is very, very small relative to global banks. Even if that were to totally blow up unless they had some shenanigans with derivatives or whatever it is, I don't think it would make that big of a mess. If we do experience this recession here in Canada, I think you're going to see banks baton down the hatches very quickly and aggressively. And then that's going to cause Steve not to be able to borrow as much as you wanted to 30 months ago.

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