Michael Lathigee writes: This letter details the irresponsible and unethical actions by TD Canada Trust in its handling of the repayment of its loan to Genesis. The drastic action taken against Genesis to achieve repayment of the TD Bank loan was both...
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Michael Lathigee writes: This letter details the irresponsible and unethical actions by TD Canada Trust in its handling of the repayment of its loan to Genesis. The drastic action taken against Genesis to achieve repayment of the TD Bank loan was both unnecessary and incredibly heavy-handed.
At every opportunity, TD Bank deliberately pursued the most abusive course of action possible without any regard for the substantial costs that would be borne solely by Genesis shareholders and without any regard for the financial devastation their actions would inflict on the lives and savings of thousands of small investors. As the details of this situation are revealed here I hope you are as sickened as I am to see how a privileged financial institution throws its weight around in a greedy grab for gain at the expense of citizens in its own communities.
In short, TD Bank behaved like a swaggering neighborhood bully, showcasing bankers at their absolute worst.
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