In a call with analysts after announcing the bank’s $1.7-billion profit last quarter, CIBC’s Victor Dodig refused to address Liberal Leader Justin Trudeau’s promise to make banks fund his party’s housing pledges. But Dodig said Canadians with investments and pensions benefit when the country’s banks are profitable, and that “what governments should be really obsessed with is making sure their citizens are well educated, that they have access to universal health care, that they create the conditions for private capital to help everybody grow.” (The Logic)

Talking point: You can see why the banks are appealing targets for a politician trying to catch a populist wave: RBC made $4.3 billion in profit in just its third quarter, TD made $3.5 billion, Scotiabank made $2.5 billion and BMO made nearly $2.3 billion. They were all profitable in 2020, too. The NDP’s Jagmeet Singh has promised a corporate tax on pandemic-era profits that have been out of keeping with any company’s previous performance.