I read this story today, The Canadian Initiative , and thought I'd share. It's good to know there is still some financial sanity and intelligent banking practices occuring somewhere. So how can we get our government to take notice?
The Canadian Solution
I read this story today, The Canadian Initiative , and thought I'd share. It's good to know there is still some financial sanity and intelligent banking practices occuring somewhere. So how can we get our government to take notice?
"He is no fool who gives what he cannot keep to gain that which he cannot lose." *Jim Elliot*
Re: The Canadian Solution
One thing during the Great Depression that made the US more vulnerable was the regulations on banks. Until recently, banks couldn't expand nationally (Why, I don't know, maybe some long standing anti-business idiocy) in the US, as they could in Canada. So banks were dependent on the fortunes of one region, and couldn't hold out during bad times in one region using the money banks in the other parts of the country made. Canada had much fewer bank failures (any?!) in the Great Depression, IIRC.
The legacy remains, because the rules changed about a decade ago, and most banks haven't become truly national.
CR
Ja Mata, Tosa.
The poorest man may in his cottage bid defiance to all the forces of the Crown. It may be frail; its roof may shake; the wind may blow through it; the storm may enter; the rain may enter; but the King of England cannot enter – all his force dares not cross the threshold of the ruined tenement! - William Pitt the Elder
Re: The Canadian Solution
Rabbit you gotta understand that in Canada the only governmental body that can issue a charter to financial institution to call itself a bank is the federal government. And always has it been so. Provinces can only issue a charter for credit unions. Besides the 5 major banks we have (TD, CIBC, BMO, RBC, and Scotiabank) were created from the mergers and aquisitions of small regional banks over the last 150 years.
Hosakawa I was watching Obama's interview on the CBC last night. He's noticed, but he doesn't really know how to get your banks on a similar footing.
Last edited by lars573; 02-20-2009 at 06:03.
If you havin' skyrim problems I feel bad for you son.. I dodged 99 arrows but my knee took one.
VENI, VIDI, NATES CALCE CONCIDI
I came, I saw, I kicked ass
Re: The Canadian Solution
I am sure he doesn’t . After all the guy he hired as Treasury Secretary was deeply involved in the current ruin the US is in to begin with.Originally Posted by lars573
Education: that which reveals to the wise,
and conceals from the stupid,
the vast limits of their knowledge.
Mark Twain
Re: The Canadian Solution
I opened a savings account in 1971 at Toronto Dominion Bank with $100. I wonder if it's still there.
Be well. Do good. Keep in touch.
Re: The Canadian Solution
Was this during the KukriKhan Canadian motorcycle adventure?
Reinvent the British and you get a global finance center, edible food and better service. Reinvent the French and you may just get more Germans.
Ik hou van ferme grieten en dikke pinten
Down with dried flowers!
Spoiler Alert, click show to read:
Re: The Canadian Solution
Did I post about that? :eek:Was this during the KukriKhan Canadian motorcycle adventure?
Yes it was.
-edit-
you have a long memory. :)
Last edited by KukriKhan; 02-21-2009 at 04:21.
Be well. Do good. Keep in touch.
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