Replies to post #278285 on ERHC Energy Inc (ERHE)

[emdyal]

And not a single one of them was in Canada which has one of the most stable banking systems in the world ! The US on the other has much less so and arguably fraught with greed and a questionable regulatory environment ! Goldman Sachs is huge, controls politicians and not a single member of the bank were ever brought to justice for their part in the 2008 housing crisis that devastated the economy !

Anyone with $5 million dollars could have made infinitely better choices than Stanford . Any other entities having financial woes is hardly an excuse for ERHC having made very poor and even reckless decisions as to what to do with their money !

http://www.theglobeandmail.com/globe-investor/investment-ideas/number-cruncher/us-vs-canada-how-the-big-banks-stack-up/article5510258/

In Canada, the combination of strong underlying credit fundamentals, a prudent regulatory environment, sound government fiscal policies and a more stable real estate environment have all contributed to the superior standing of Canada’s banks.

Royal Bank is trading 13 per cent higher than its 2006 peak, with a current yield of 4.3 per cent.

Close-up on the big banks

Company

Market cap. ($ bil.)

ROE %

NPA to total assets %

Wells Fargo & Co 168.14 12.68 1.84
JPMorgan Chase 150.27 9.84 0.54
Citigroup Inc. 102.58 4.00 0.66
Bank Of America 98.30 1.85 1.15
US Bancorp 59.33 16.62 0.80
PNC Financial 28.74 7.72 1.34
average 101.23 8.78 1.05

Royal Bank Of Canada 80.35 19.21 0.26
TD Bank 72.15 14.85 0.30

[midtieroil]

NONE of those companies were offshore banks paying ridiculously high interest rates that had no FDIC insurance and little to no governmental regulations or oversight. ERHC management literally had to be blind not to see the dangers of Stanford. Are you really going to compare that bogus bank with established US companies that had been around for decades?

Not faulting ERHC's management for making that idiotic investment is the real joke. Is ANYTHING EVER their fault?