Why Carson Block Sees "Real Problems With Canada"

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"Though Block said he hadn’t heard of Element before Wednesday, the run on Home Capital Group’s deposits in recent weeks suggests that “investors denial is just starting to crack.” HCG is being drained of assets at an unprecedented pace – already 94% of retail deposits have fled the troubled lender - and the company has erased more than half of its market capitalization since a Canadian regulator accused it five weeks ago of misleading investors over an internal probe of fraudulent mortgage loan applications – a practice that bears some resemblance to US mortgage lenders’ reliance on “liar loans,” which helped inflate the subprime bubble."

Why Carson Block Sees "Real Problems With Canada" | Zero Hedge
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