As predicted by many across TK here, C has cut the dividend by 41%, had a huge writedown, and yes.. Prince Al-Waleed has infused money (as well as others). There are some surprises... first, Sandy Weill has put money into C also, which many call a surprise. I knew Mr. Weill was a major shareholder, being the former CEO. However, I never predicted he would have come through with money. Also in there is the State of New Jersey (also in Merrill's Bailout). I've read whereas it's either the state itself, or the public service pension fund. My question is simple: ARE MY TAX DOLLARS SUPPORTING THIS BAILOUT? I did write the Department of the Treasury and ask them if it was the state or the public service pension fund that did this, and if my tax dollars supported this. If it was the pension fund and no tax dollars were used, I don't care... after all, the Ontario Teacher's Pension Fund owns Maple Leaf Sports & Entertainment (owners of the Toronto Maple Leafs, Raptors, and the Air Canada Centre). among many other things. If it was my tax dollars, then I am not thrilled. We'll see when I get my reply...

Also, CIBC (CM on the market) has confirmed that it will take a $2.5 billion writeoff due to subprime. CM's the smallest of the Canadian Big 5. Interestingly enough, as recently as July, this writeoff was only $330 million! For the record, as far as I know, BNS does not have subprime (I follow this closely as I do have shares). BNS does not have any US banking, nor do they service any US consumers. TD has stated that neither they nor CBH has any subprime. (I am interested in TD for my IRA)

All the best!