October 14, 2009
Canada avoids bank bailout, but feels U.S. financial woes
The prudent stewardship of Canadian banks in avoiding risky loans meant that they never required a government bailout. But the U.S.’s economic woes are spilling across the border and affecting Canadian big business. Canadians are blaming their own government and clamoring for help.
Correspondent Martin Himel reports from Canada.
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3 comments
Will there be a follow-up story on the Canadian Banking System, around the Auto Industry. Is this part of the ” second wave ” around the credit problems around the world, which unemployment both in the USA and in Canada as increased, in which some economic’s were predicting. Will the Canadian Bank’s as with the USA Bank’s problems, also effect, at a later day, the Asian markets around the auto industry around Asian Bank’s.
There is only ONE reason why The Canadian Banking System didn’t follow The U.S. collapse - The Canadian Parliament wasn’t pressuring or forcing The Lending Banks to approve Low Interest, Unsecured Loans to those who couldn’t afford to buy a Tree House much less a Real House. Instead The U.S. Congress was threatening Banks with Fines and Federal Investigations if they didn’t offer these ridiculous Risky Loans to potential Voters, present and future.
And that, as they say, was THAT.! End of Story.! And the beginning of the end of Life as we knew it, for Millions of People in The U.S. and around the world, young and old, working and retired.
Doc
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11/18/2009 :: 06:02:39 AM
JC Says:
Uh, Canada DID bail out its banks. To the tune of $75 billion. Where have YOU been?