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Monday, May 4, 2009
Sunday, May 3, 2009
Property seizure by provinces OK
Robin Chatterjee, a former student at Carleton University in Ottawa, was en route to his home in Thornhill, Ont., in March 2003 when police pulled him over because his car was missing a front licence plate.
They discovered he was breaching a court order to live in Ottawa and upon searching his car, found a light ballast, one light socket and an exhaust fan -- items commonly used for marijuana grow operations. He also had $29,000 cash.
Police did not charge the young man because they said they did not have enough evidence.
Ontario's Civil Remedies Act, however, does not require a criminal conviction, so the province moved in and seized the goods after receiving judicial approval. A judge can give permission based on a balance of probabilities that the goods were proceeds of crime, a standard that is not as high as the criminal test of proof beyond a reasonable doubt.
'Each level of government bears a portion of the costs of criminality and each level of government, therefore, has an interest in its suppression,' Justice Ian Binnie wrote in the 7-0 decision.
Property seizure by provinces OK: court
They discovered he was breaching a court order to live in Ottawa and upon searching his car, found a light ballast, one light socket and an exhaust fan -- items commonly used for marijuana grow operations. He also had $29,000 cash.
Police did not charge the young man because they said they did not have enough evidence.
Ontario's Civil Remedies Act, however, does not require a criminal conviction, so the province moved in and seized the goods after receiving judicial approval. A judge can give permission based on a balance of probabilities that the goods were proceeds of crime, a standard that is not as high as the criminal test of proof beyond a reasonable doubt.
'Each level of government bears a portion of the costs of criminality and each level of government, therefore, has an interest in its suppression,' Justice Ian Binnie wrote in the 7-0 decision.
Property seizure by provinces OK: court
Sporting Life 10K Results
woohoo, my first timed race run ... 2,454th place!
Sporting Life 10K
Place 2454/10762
Chip Time 49:35.8
Pace 4:58
Gender Place/Total 1892/4857
Category M45-49 206/543
Sporting Life 10K
Sunday May 3rd, 2009
Toronto, ON, 8:00am
OBRONT, DAVID Toronto, ON, 8:00am
Place 2454/10762
Chip Time 49:35.8
Pace 4:58
Gender Place/Total 1892/4857
Category M45-49 206/543
Da Russophile
Their Thesis
The Western media tells us Russia is in a death spiral, its economy is one giant oil bubble, suffers from endemic corruption, inequality and lawlessness and is presided over by a KGB kleptocrat dead-set on resurrecting the USSR and launching Cold War II.
Our Antithesis
Russia is a normal country with a booming non-hydrocarbons economy underpinned by a well-educated and secular workforce. The Putin administration has affirmed democratic values, worked to improve human rights and pursued Russia’s national interests abroad.
Your Synthesis ?
Core Article: Welcome to Da Russophile | Sublime Oblivion
The Western media tells us Russia is in a death spiral, its economy is one giant oil bubble, suffers from endemic corruption, inequality and lawlessness and is presided over by a KGB kleptocrat dead-set on resurrecting the USSR and launching Cold War II.
Our Antithesis
Russia is a normal country with a booming non-hydrocarbons economy underpinned by a well-educated and secular workforce. The Putin administration has affirmed democratic values, worked to improve human rights and pursued Russia’s national interests abroad.
Your Synthesis ?
Core Article: Welcome to Da Russophile | Sublime Oblivion
Saturday, May 2, 2009
Insulin, Blood Sugar & Type 2 Diabetes
We all know by now that type 2 diabetes is an epidemic. Here’s my ultra-simple explanation of the entire insulin/blood sugar/type 2 diabetes mess. Big Agra could really care less about you. That’s just business.
The Definitive Guide to Insulin, Blood Sugar & Type 2 Diabetes (and you’ll understand it)
Mark's Daily Apple4 excerpts from Sum: Forty Tales from the Afterlives by David Eagleman.
a vision of the hereafter from a new book by David Eagleman
Seven hours of vomiting. Fourteen minutes of pure joy
Today's story is entitled 'Sum.'
Tuesday, April 28, 2009The great TV in the sky
Today's story is entitled 'Will-o'-the-Wisp.'
Wednesday, April 29, 2009The Technician's warning
Today's story is entitled 'The Unnatural.'
Thursday, April 30, 2009-
The many versions of you
Today's story is entitled 'Prism.'
Friday, May 1, 2009
Friday, May 1, 2009
Bank PPEs ample cushion against rising loan losses
Bank PPEs ample cushion against rising loan losses - FP Trading Desk: "The pre-provision, pre-tax earnings (PPE) of Canada's banks are more than ample to cushion the impact of rising loan losses, says UBS analyst Peter A. Rozenberg.
'We think that PPE are the most important line of defence against projected credit losses, he said in a note to clients. 'We project significant PPE of $34-billion in F2009 compared to $9.3-billion in projected provisions.
Mr. Rozenberg said Canadian banks have historically enjoyed strong provision coverage with PPE:PCLs no less than 1.5x. Currently, the analyst noted the average coverage is 3.6x with National Bank at 7.3x and Bank of Nova Scotia at 4.8x, leading the pack. Bank of Montreal at 2.5x would be the lowest.
He added that PPE is also a good way to judge bank valuations and following the recent rally in the sector, Canadian banks are now trading at 5.4x PPE, compared with their historical average of 5.6x. CIBC and Bank of Montreal trade at the most attractive valuations, he said, while Royal Bank and Bank of Nova Scotia trade modestly above average, TD is below average and National Bank trades higher than average.
'Lower valuations at TD and BMO likely reflect lower implied US returns while discounts at CM likely reflect higher [collateralized loan obligations] risk,' he wrote. 'The relative premium valuation at NA is likely due to lower than average provisions and higher implied returns.'"
'We think that PPE are the most important line of defence against projected credit losses, he said in a note to clients. 'We project significant PPE of $34-billion in F2009 compared to $9.3-billion in projected provisions.
Mr. Rozenberg said Canadian banks have historically enjoyed strong provision coverage with PPE:PCLs no less than 1.5x. Currently, the analyst noted the average coverage is 3.6x with National Bank at 7.3x and Bank of Nova Scotia at 4.8x, leading the pack. Bank of Montreal at 2.5x would be the lowest.
He added that PPE is also a good way to judge bank valuations and following the recent rally in the sector, Canadian banks are now trading at 5.4x PPE, compared with their historical average of 5.6x. CIBC and Bank of Montreal trade at the most attractive valuations, he said, while Royal Bank and Bank of Nova Scotia trade modestly above average, TD is below average and National Bank trades higher than average.
'Lower valuations at TD and BMO likely reflect lower implied US returns while discounts at CM likely reflect higher [collateralized loan obligations] risk,' he wrote. 'The relative premium valuation at NA is likely due to lower than average provisions and higher implied returns.'"
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