acanuck's picture

    When is Canada's financial bailout due?

    By acanuck on Thu, 09/25/2008 - 5:11pm |
    The Canadian and U.S. economies are just about as closely intertwined as any two in the world.
    So, given the ratio of their populations, why haven't we heard about the $70 billion emergency bailout that Canadian legislators have been called back to debate?
    Because our financial fundamentals really are sound.
    Banks or big lenders on the brink of collapse? Zero.
    Dollar? Strong.
    Subprime mortgages? Virtually none.
    And why is that? Rules.
    We silly, left-leaning Canadians believe sensible regulations are a good thing.
    Want a mortgage? Your credit rating better be at least 600.
    Downpayment? That'll be 20-25%, please.
    You can only ante up 5%? Fine, but you'll need government-approved insurance on the rest of the loan.
    Result? No credit crunch, no wave of foreclosures, no panic in the streets.
    But then, to some of our southern neighbors, all those regulations probably smack of socalism.

    Comments

    For God's sake man, get a grip! Where's your patriotism?? Canada's already under threat from the financial collapse to the South -fleeing hordes and all - and now you go & tell 'em - "HEY! Everything's great up here! Great place to invest! Or (worse yet) move! And - egads - if Palin wins... that'll triple immigration.

    Besides, until Winter kicks in, and offers us the kind of protection only Moscow can match - doncha think we should maybe keep our voices down?

    Suggested new text of post. "Oh.... God. We're crashing here too. Grooooan. Auto industry in a mess. Housing prices soaring. Ouch! Nasty Conservatives in charge here too. And.... the country's full of FRENCH people. Eh?"

    That should make 'em think twice.


    by quinn esq (not verified) on Thu, 09/25/2008 - 5:58pm

    Not to mention Quebec's new mandatory winter-tire law.
    Mandatory!
    Next they'll be ordering us to buckle our seatbelts and cross the street only at intersections!
    And wait for the light to change first!
    You're right, Quinn, this country is hell on wheels.
    And don't get me started on the weather.
    I wouldn't encourage any of our American friends to come north -- nope, not even to visit.
    Of course, hockey season is just starting, and I do have a new HD set.
    So I'm all right, Jack.


    by acanuck (not verified) on Thu, 09/25/2008 - 8:26pm

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