https://petercresswell.com/tags/politics/Recent content in Politics on Peter CresswellHugoen-usThu, 27 Apr 2017 00:00:00 +0000https://petercresswell.com/post/2017-04-27-hoopp-saves-the-day/Thu, 27 Apr 2017 00:00:00 +0000https://petercresswell.com/post/2017-04-27-hoopp-saves-the-day/<p>Home Capital Group has been in the news lately, mostly due to its <a href="http://www.zerohedge.com/news/2017-04-26/canadas-housing-bubble-explodes-its-biggest-mortgage-lender-crashes-most-history">stock crashing over 60% in one day</a>. I guess that sort of thing will get you in the news. The cause of the crash? HCG announced that it had secured a $2 billion loan with terms that would make the most predatory loan shark blush.</p> <blockquote> <p>Home Capital said the credit line is intended to “mitigate” a sharp drop in Home Trust’s high-interest savings account balances, which sank by $591 million from March 28 to April 24, at which point the total balance was $1.4 billion. Home Capital warned on Wednesday that further outflows are anticipated.</p>