Monday, January 25, 2010

Familiar Ring

I confess ignorance here.

So you will forgive my being shocked by the revelation today that Canadian banks are buoyed by enormous support from me and you and our tax dollars.

At the end of 2008, the latest figures we have, CMHC had $149-billion of investments in mortgage-backed securities on its balance sheet, up from $96-billion the previous year.


Does anyone remember what happened not too many miles south not too many months ago?

1 comment:

Leah said...

All a part of leveling the playing field for the NAU, SPP and NAFTA. People didn't seriously think the USA and Mexico would rise to the level of social safety nets that Canada HAD, did they? It's about lowering our standards to those of the US (at least)...before they take over the running of the NAU.

Oh right, there's no such thing according to the government. Ahuh.