The circus between the banks and Flaherty which I have been reading about is totally nauseating.
Here we have CEOs paid many millions a year saying...regulate us!
Like a obese glutton unable to control his appetite. Some on th blogosphere even have an excuse for the banks. They have to be easy or lose business. That is the same bs that chuck prince at Citi said before the US collapse. 'while the music plays we have to keep dancing'
BS !! - the result was huge tax-payer bail-outs. Not all banks did this. Not New York Bank of Mellon. This is the junkie's excuse. Would we excuse a barman from giving more and more drinks to a drunk until he died!
Of course not. Why can't the stupid banks self-regulate???
Then there is Flaherty who wants to shun responsibility too. It's not my market- he says!
Duh.... It is bozo. What about the CMHC.?
No CMHC, no bubble.
Nobody wants to take responsibility for what is going to happen, not the over-paid debt pushers, nor the windbag politician.
E are in a bind.