Link from thebitterguy:

[pyat]

"Canada has the world’s soundest banking system, closely followed by Sweden, Luxembourg and Australia, a survey by the World Economic Forum has found as financial crisis and bank failures shake world markets."

Well... that's nice, I guess.

Comments

[zenten.livejournal.com]

It makes me feel more secure.

Now only if our economy wasn't so tied to the US economy.

[postrodent.livejournal.com]

Also probably one of the most _heavily regulated_ banking systems. Is there a connection? Noooooo. :>

[viktor-haag.livejournal.com]

I guess that's why our fearless leaders decided we only need to spend 25 billion on them... only a ~50%/capita expenditure compared to our neighbours to the south... ::shakeshead::

[zenten.livejournal.com]

I'm having trouble finding any sources, but I thought it was only $25 million.

[pyat.livejournal.com]

I don't think the Feds would bother with a bailout if it was a matter of millions. As James Cagney put it - "Never steal anything... small."

[viktor-haag.livejournal.com]

Don't worry. Our fearless leader says it's not a bailout. (http://www.theglobeandmail.com/servlet/story/RTGAM.20081010.wharper_criticism1010/BNStory/politics/home)

What the government is doing is spending public tax money on insured mortgage papers held by the banks, so that they'll have 25 billion of capital to re-lend to the private sector.

So... the reason that this isn't a bailout is that these mortgages are not determinably in default?

[zenten.livejournal.com]

Ah, OK.

So I totally read everything wrong (or maybe there was a $25 million figure showing up for something different).

I don't see this as necessarily being a bad thing mind you.

It's not a bailout because the banks will not go under without it. Mind you, it's not like that is what makes it a good thing.

[viktor-haag.livejournal.com]

To me it fairly reeks of pork-barrel electioneering. But perhaps that's just me being cynical.

[zenten.livejournal.com]

I'm not sure what you mean by pork-barrel electioneering. It's one of those terms that gets thrown around a lot without me actually seeing any sort of definition or common usage.

[easyalchemy.livejournal.com]

Weird.

[lee-in-limbo.livejournal.com]

Well, considering the rates we currently pay, it bloody ought to be. Also, I do hope our regulations would have kept us in good stead. Now if only I were making money again and could afford to pay my debts, I might be able to get a mortgage before my wife gets sick of me and moves back to New York.

Lee.

[viktor-haag.livejournal.com]

In this case, handing out glad-handy money just before an election in order to shore up declining support in the polls. You are correct that it's hard to really call it "pork barrel" as it doesn't really provide any solid regional benefit to a geographical area.

[madmanofprague.livejournal.com]

We should build an arctic highway to Russia.

And China.

[zenten.livejournal.com]

Well, the highway would require getting Alaska really, and if Palin is the sort of person it produces I don't see us doing that.

[zenten.livejournal.com]

Yeah. I think the bailout is unpopular enough here that Harper doing something that looked like it wasn't his motivation.

[madmanofprague.livejournal.com]

Not if we go straight up.

[zenten.livejournal.com]

Bah, that's going to take at least 10 years for all the ice to melt, at least in the winter months.

[madmanofprague.livejournal.com]

Pontoons, man! Ride the melting!