How much more of the United States will Canadian banks buy if the US goes into default?

[murphyj87]

Canada has been buying out US banks and financial institutions for decades and, if the US fails to raise it's debt limit, and goes into default, Canadian banks and other companies may well buy out far more of the United States.

TD (Toronto Dominion Bank):
Bought out Ameritrade
Bought out Riverside National Bank of Florida
Bought out Peoples Heritage Bank (in Maine)
Bought out Bank of New Hampshire
Bought out Evergreen Bank (in New York)
Bought out Hudson United Bank based in Mahwah, New Jersey
Bought out Middletown Savings Bank locations in New York, which significantly expanded TD's presence in Connecticut, New York, New Jersey, and Pennsylvania

RBC (Royal Bank of Canada):
US Operations based in Raliegh NC
Bought out Flag Bank in Georgia
Bought out AmSouth Bank in Alabama
Bought out Alabama National BanCorporation in Alabama, Georgia, and Florida

BMO (Bank of Montreal):
US Operations based in Chicago
Bought out Harris Bank in Illinois and several states
Bought out Diners Club International's North American franchise
Bought out M&I Bank, Wisconsin's largest and oldest bank
Bought out Lloyd George Management, with offices in Florida, among many other areas worldwide
Bought out Griffin, Kubik, Stephans, and Thompson, a Chicago based employer that employs about 100 people in sales, trading, research, public finance and underwriting, and specializes in municipal bonds, U.S. Treasury and agency debt, and mortgage-backed securities in the US.

CIBC (Canadian Imperial Bank of Commerce):
Bought out Mellon Bank Corp. (now Bank of New York Mellon) of Pittsburgh PA

[LiberalLoner]

1. If Canada buys the U.S. does that mean we will finally get Canadian-style healthcare?

(Sorry, had to say that, couldn't help myself.)

I've always liked Canada. I think we actually might be better off if Canada took us over.

[glinda]

2. I am all for that. I already know "Oh Canada" and am moved to tears when I sing it.

[LiberalLoner]

4. I really like Gordon Lightfoot, doesn't that make me almost Canadian?

[juajen]

7. I was just going to post the same! I love Canada. NT

[laconicsax]

3. I, for one, welcome our new curling-enthusiast overlords.

[glinda]

12. Curling is my favorite sport.

[Marie Marie]

5. Uh-oh! How long before some right wing nut calls for us to bomb Canada?

After all, if they own our banks, how long before they push their healhcare system on us? Socialists must be stopped at all costs.

[LiberalLoner]

6. Oh, no, don't give them any ideas....n/t

[zazen]

8. my ex is Canadian

His relatives were some of the most right-wing people I'd ever met and didn't seem to think that their beliefs were inconsistent with all of their public services.

Parts of Ontario have their share of rednecks too. :-)

[Art_from_Ark]

15. You should go to Alberta

They don't call it the "Texas of Canada" for nothing! (And I'm not just referring to the oil, either).

[applegrove]

9. We had banks that could do business in any province throughout history. So canadian

banks are really big compared to your average american one.

[bossy22]

10. canada does not have enough money to purcahse the u.s.

i believe the total assets of canada are like 1/30th of that of the U.S.

[roamer65]

13. Give dollar devaluation long enough and it will be 1 to 1.

[clixtox]

14. Already happened! N/T

[jtuck004]

11. Looks more like they are going after trading companies and bank resources

that make them more of a player in certain financial circles rather than any real investment in buying the country.