Further to my post last week, here is more news that confirms how hard our banks have worked to keep their balance sheets strong.This hopefully will lead to more lending and looser purse strings from our banks.  Hang in there it’s coming

CIBC has reported that they feel the recession will be better for them because they will have to focus solely on their Canadian operations.This coming from the bank in Canada that got hit the hardest for bad investments in the US sub-prime debacle.They also indicated they would cut back on their credit card business.Let’s hope this just means they have more money and more focus on their Canadian Mortgage business units.