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Most likely the Bank of Canada trying to keep the dollar low and exports high. There was no sub-prime fiasco there as the mortgage system is quite straigh-forward, you get a mortgage from a bank and that is it. No bundling and selling of mortgages. So no banks needed bailouts or any of that shit. They wierd way they do mortgages here defies understanding. Maybe Churchill was right when he said "The admirable thing about Americans is that you can always count on them to do the right thing - after they have tried every possible alternative first." Why does every financial transaction have to be like one giant Ponzi scheme.
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06-13-2009, 06:52 AM
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