Loading ...That means that if a bank starts to go wobbly in Canada, and you have money deposited in that bank, the bank can take your money to bail itself out.
When you have your life savings, or your kids college fund, or even last week’s paycheque in the bank that you need to pay your rent, you are technically a creditor of the bank. As in, they owe you that money.
But this Liberal proposal says that if the bank has trouble, they can just take your cash, and give you shares in the worthless bank instead.