Why didnt Canada need to bail out their Banks?I am Canadian, never heard us about bailing out our banks, or any banks collapsing. Never heard about any property prices collapsing either. Only business we lost was from the US like services and timber. | |
Because those socialist Canadian banks were well capitalized. They didn't invest in obscure, risky vehicles like credit default swaps. They didn't leverage themselves 500-1 like Bear Stearns. They didn't sell the same share of stock to 17,000 people like Lehman Brothers.
They actually paid attention to what was going on in their financial sector. As a result the Canadian banking system suffered the least and recovered the fastest.
Oh it's coming. Canadian banks can't subsidize the personal debt of Canadians forever. Canadians keep buying things on credit with no payback plan. Who sells someone a house for no money down with no monthly mortgage requirement?
Because the Canadian economy is better and more efficient than the American economy. Simple.
It was a $186 billion bailout but i don't know if that figure was in Canadian or U.S. dollars.
Cause they weren't failing eh
Canada never had Americas obligations or reach
