"Tegger" wrote in message ...


The US housing bubble was created by the shiploads of artificial credit
conjured up by the Fed. Canada also creates artificial credit, but not to
the same extent, and without accompanying legislative idiocies like the
Community Reinvestment Act.


They also didn't take the cop off the beat and allow investment firms to
conjure up bizarre securities that were rated triple-A by rating agencies
that had no idea of the real value of the instruments. Gee, regulation that
works and makes the Canadian banking system the most stable in the world,
imagine that.

http://www.brookings.edu/papers/2009...da_nivola.aspx

"The Canadian banking system has long been regarded by the IMF as a paragon
of international best practices. The World Economic Forum recently ranked it
the soundest in the world. And it looks better with every passing day. As
during the Great Depression, when only a few inconsequential banks failed in
Canada, the overall system has remained solvent and solid amid the current
global crisis. Indeed, unlike several large U.S. banks these days, the
sustained profitability of Canada’s is startling....

All of Canada’s banks are federally chartered and overseen by federal
agencies. One government-owned entity—the Canada Mortgage and Housing
Corporation (CMHC)—plays a dominant role in shaping mortgage
default-insurance policy. It and five other government bureaus in Ottawa—the
Department of Finance, the Canada Deposit Insurance Corporation, the Bank of
Canada, the Financial Consumer Agency, and importantly, the Office of the
Superintendent of Financial Institution—set standards, coordinate the
overall regulatory structure, and enforce it with sanctions. The
Superintendent, for instance, has the power to remove miscreant bank
directors and senior officers."