National Bank Bails Out Insiders of Their ABCP Holdings

The Globe and Mail, Janet McFarland, 25 January 2008Executives, directors and other insiders at National Bank of Canada had $7.8-million worth of asset-backed commercial paper investments bought back from them by the bank after markets collapsed in August, the bank has revealed.In a shareholder proxy circular issued Friday, National Bank said a previously announced program to buy back $2.1-