Monopoly 12 - Overdrawn

02/01/23 • 20 min

1 Listener

Not only do the Big Five banks get away with charging exorbitant fees for basic services. Not only do they block any competitors by controlling Canada’s payment infrastructure. Not only are they totally entwined with the federal government.

But the Big Five banks are about to get even bigger.

Featured in this episode: Colin Deacon, Keldon Bester, Alex Vronces

To learn more

“How blocked mergers foiled banks' ambitions — and forced the Big Six to innovate” by James Bradshaw in The Globe and Mail

“How the push to modernize Canada’s payment systems went off the rails” by Jon Victor in The Logic

“How the Big Five banks control how money moves in Canada” by Alex Vronces in Policy Options

“RBC-HSBC banking merger is a slide to monopoly – Canada should just say no” by Keldon Bester in The Globe and Mail

Credits: Arshy Mann (Host and Producer), Jordan Cornish (Producer), Noor Azrieh (Associate Producer), Annette Ejiofor (Managing Editor)

Sponsors: Rights Back At You, Athletic Greens

If you value this podcast, Support us! You’ll get premium access to all our shows ad free, including early releases and bonus content. You’ll also get our exclusive newsletter, discounts on merch, tickets to our live and virtual events, and more than anything, you’ll be a part of the solution to Canada’s journalism crisis, you’ll be keeping our work free and accessible to everybody.

You can listen ad-free on Amazon Music—included with Prime.

Hosted on Acast. See acast.com/privacy for more information.

But the Big Five banks are about to get even bigger.

Featured in this episode: Colin Deacon, Keldon Bester, Alex Vronces

To learn more

“How blocked mergers foiled banks' ambitions — and forced the Big Six to innovate” by James Bradshaw in The Globe and Mail

“How the push to modernize Canada’s payment systems went off the rails” by Jon Victor in The Logic

“How the Big Five banks control how money moves in Canada” by Alex Vronces in Policy Options

“RBC-HSBC banking merger is a slide to monopoly – Canada should just say no” by Keldon Bester in The Globe and Mail

Credits: Arshy Mann (Host and Producer), Jordan Cornish (Producer), Noor Azrieh (Associate Producer), Annette Ejiofor (Managing Editor)

Sponsors: Rights Back At You, Athletic Greens

You can listen ad-free on Amazon Music—included with Prime.

Hosted on Acast. See acast.com/privacy for more information.

Previous Episode

Monopoly 11 - Flight Risk

It’s been a hard few years for Canadian air passengers. And while no one blames the airline oligopoly for COVID or winter storms, air travellers have had to put up with a lot.

But Canada has consumer protections to make sure that when something goes wrong, there’s a fair process in place to make sure everyday Canadians don’t get screwed over, right? Right??!

Featured in this episode: Gábor Lukács, John Gradek

To learn more

“Canadian airline regulator’s stance on refunds aligned with execs’ requests from days earlier, emails show” by Christopher Reynolds in Canadian Press

“This Nova Scotia man’s fight with an airline pulled back the curtain on a flawed passenger-protection act, an adjudicator says” by Steve McKinley in Toronto Star

“Ottawa ‘not hiding’ from holiday travel chaos fallout, transport minister says” by Sean Boynton & Aaron D'Andrea in Global News

Credits: Arshy Mann (Host and Producer), Jordan Cornish (Producer), Noor Azrieh (Associate Producer), André Proulx (Production Coordinator)

Sponsors: Douglas,

You can listen ad-free on Amazon Music—included with Prime.

Hosted on Acast. See acast.com/privacy for more information.

Next Episode

Monopoly 13 - The Irvings

For almost a century, the Irving family has run New Brunswick like a personal fiefdom. They own the newspapers, the industry, and, according to some, even the government. So how does a single family come to so thoroughly dominate an entire province? And what happens when that family starts to fracture and split apart at the seams?

Featured in this episode: Bruce Livesey (Thieves of Bay Street).

To learn more:

“Are the Irvings Canada's biggest corporate welfare bums?” by Bruce Livesey in National Observer

Irving vs. Irving: Canada's Feuding Billionaires and the Stories They Won't Tell by Jacques Poitras

“Irving family's fortunate son explains how he fell into a dark depression, and rose again” by Erin Anderssen” in The Globe and Mail

Additional music:

“A List of Ways to Die” by Lee Rosevere, “Easy Life” by Lee Rosevere, and “Androids Always Escape” by Chris Zabriskie, adapted.

Sponsors: Douglas, Athletic Greens

Hosted on Acast. See acast.com/privacy for more information.