The mortgage default wave could flood us all

Plus, the unlikely Canadian breakout on “The Bear,” “Eyes Wide Shut” at 25 and the Star’s new editor-in-chief [The Star] First Up [By Andrew Joe Potter] By Andrew Joe Potter Good morning — and it’s an especially good one if you’re Alec {NAME}. The actor’s [involuntary manslaughter case for the 2021 shooting death on the set of his movie “Rust” was dismissed]( yesterday. Here’s the latest on everything else. MUST READS Toronto Star illustration ECOnomy [The banks are preparing for a wave of mortgage defaults. Economists fear the rising tides could affect us all]( While the increasing frequency of mortgage defaults will be devastating for individual homeowners, the pain won’t end there. With Canada’s banks progressively forced to set aside capital to cover bad loans, the risk of shocking the entire lending system rises too, Clarrie Feinstein reports. [Many facing mortgage renewal are already bracing for worst-case scenarios](. Richard Lautens/Toronto Star At the paper [Meet the Toronto Star’s new editor-in-chief]( Nicole MacIntyre was only 23 years old when she walked into the Toronto Star newsroom for the first time. Just over two decades later, she’s the paper’s new editor-in-chief. MacIntyre writes that we’ll learn more about the road ahead in due course. For now, the Star’s guiding light is simple: [be fearless and ambitious in seeking the truth](. Susan Kao/Sid Tangerine/Toronto Star illustration Celebrity [As a breakout performer on one of TV’s hottest shows, Matty Matheson says he’s still “kind of chillin’”]( Matty Matheson’s role in “The Bear” is a step up from the food shows he’s previously hosted or appeared in. Nevertheless, the Ontario restaurateur tells Debra Yeo he doesn’t see himself as a TV star (even though he delivered the show’s Emmy acceptance speech earlier this year). [Not bad for a guy originally hired to serve as the show’s culinary consultant](. Sean Kilpatrick/The Canadian Press file photo Investing [The Canadian Pension Plan spends billions each year failing to outsmart the markets. To be bold, it’s time to be safe]( The numbers don’t lie: CPP Investments — the investment arm of Canada’s national pension plan — would’ve been better off simply investing in low-cost index funds than paying its global army of employees to try to outsmart the markets. Amir Barnea notes that any added value created due to the plan’s active management style since inception was wiped out by this past year’s huge miss. [There’s a lesson for all investors here](. CP MOVIES [“Eyes Wide Shut” plays like a Stanley Kubrick highlight reel, just as demanding and confounding 25 years later]( Starring the then-married Tom Cruise and Nicole Kidman, “Eyes Wide Shut” was released this week in 1999. As legendary director Stanley Kubrick’s final credit, the erotic thriller was a throwback to an era where the line between “movies for adults” and “adult cinema” was excitingly permeable, writes Adam Nayman. [Here’s why the sexually explicit, star-studded flick still shocks today](. Support THIS Steve Russell/Toronto Star As a staff photographer for the Star, Steve Russell is used to seeing the world through his camera lens. These shots from his personal collection are year-round reminders of [the importance of giving all children the chance to have summertime adventures](. Thanks for reading, presumably with your eyes wide open. You can reach the First Up team at [firstup@thestar.ca](mailto:firstup@thestar.ca?source=newsletter&utm_source=ts_nl&utm_medium=emailutm_email=6C53B63A8E3FAD70AD4EF13004527437&utm_campaign=frst_216511), and I will see you back here tomorrow. If you're not enjoying these emails, please tell us how we can make them better by emailing newsletterfeedback@thestar.ca. Or, if you'd prefer, you can unsubscribe from this newsletter by clicking the first link below. [Unsubscribe From This Newsletter]( [Sign Up for More Newsletters and Email Alerts]( [View in Browser]( Toronto Star Newspapers Limited. 8 Spadina Avenue, 10th Floor, Toronto, ON M5V 0S8. 416-367-2000 [PRIVACY POLICY](