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Politics : Liberalism: Do You Agree We've Had Enough of It?
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To: Bill who wrote (86299)6/21/2010 11:12:46 AM
From: Kenneth E. Phillipps  Read Replies (4) of 224720
 
In Canada, the economy grew at a 6.1 percent annual rate in the first three months of this year. The housing market is hot, and three-quarters of the 400,000 jobs lost in the recession have been recovered.

The banks are stable because, in part, they're more regulated. As the United States and Europe loosened financial regulations over the past 15 years, Canada refused to do so. The banks also aren't as leveraged as their U.S. or European peers.

There was no mortgage meltdown or subprime crisis in Canada. Banks don't package mortgages and sell them to the private market, so they need to be sure their borrowers can pay back the loans.
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