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13 Comments
- WordsnCollision, on 10/31/2008, -0/+13We often complain about our banks up here but they've done an excellent job of weathering the current crisis. Banks stocks have slipped but still remain strong. A run on a major Canadian bank is inconceivable. You guys down south oughta try it :o)
- NightcrawlerX, on 10/31/2008, -1/+11Wait, this means that government regulations can ensure that a country is prosperous without having to rely purely on the invisible hand of the market? that doesn't make sense, if it did why have I been stockpiling large quantities of rum, ammunition and gold (precious gold)? dammit! damn you canada! Another reason to dislike those smug, good looking, beer drinking, fun-loving, charming bastards
- lucy22, on 10/31/2008, -0/+8Canadian Banks are doing fine because they are the most regulated banks in the world.
Most of the Banking Act would not allow for alot of the practices that led to those banks failing.
Something good about Government regulation for banks anyway. - photonics, on 11/01/2008, -0/+5Yup, strong banking regulations have helped us a lot, and believe it or not we're still free up here...no communist dictator as some americans believe. Hopefully we'll stay free, but who knows, our Prime Minister likes the US ways of doing things...maybe we'll end up with telecoms spying on us to.
- Waiting2awake, on 11/01/2008, -0/+5That isn't true at all - they would merely constrict to their proper domestic size. A size that works for the size of the community they serve. That is if they ever followed market forces.... But I submit to you that if it becomes a choice between shrinking and keeping a job in line with the community Vs closing the bank and getting one more big payday.... The choice wouldn't be for their community.
One should always remember their job, is to facilitate our needs - not vice versa. - honeybrass, on 11/01/2008, -0/+4What? Canada does something better than the US? How dare they value stability over quick profit and massive falls, extremes are part of the US psyche, damn northern moderates.
- HCviolence, on 11/01/2008, -0/+4Yeah but America can't be like Canada because we're socialists. I mean promoting responsible economic practices that puts control of our economy in the hands of the government instead of bankers and oilmen? You all might as well be living in China.[/sarcasm]
- Waiting2awake, on 11/01/2008, -0/+2What do you mean "end up"? Just because it isn't shouted to the heavens doesn't mean it isn't happening...
- DocArmageddon, on 10/12/2009, -0/+2the first comment on that article is pretty apt, i gotta say
- ajrmorris, on 10/31/2008, -1/+2Canada, what a fun loving, really regulated place
- inactive, on 11/01/2008, -1/+1Well thank your lucky stars that the Liberals didn't win.
They wanted the exact opposite of what is described in this article. Harper sucks on many levels, but he is good at running an economy. He spent the last four years fighting off Liberals who wanted to mimic what America was doing, ironically.
We lost a lot of jobs but compared to what is happening elsewhere in the world and considering that we are completely dependent of the US, he did one hell of a job in that respect. - lizzyville, on 12/06/2008, -0/+0Obviously, not every bank was spared. CIBC lost $2 billion. It's also kind of funny that now everyone wants to talk to the chief of the Bank of Canada. He must be so flattered. We did a story on this and found this Cosmoloan article was really key in making sense of what happened.
http://www.findingdulcinea.com/news/business/2008/ ... - CUGI08, on 11/01/2008, -2/+1We should always remember however, that our banks are NOT invincible. Regulated or not, without American investments they will eventually fail.
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