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Originally posted by Ericthenewbie
reply to post by stanguilles7
umm Policyalternative, the ones that published the document said themselves it was incomplete;
It also acknowledged its study was incomplete because it could not get access to Bank of Canada and Canada Mortgage and Housing Corp. documents.
I think both sides should show their evidence either for or against.
This report builds a composite picture of the extent of Canadian banks’ use of government support by combing through aggregate data provided by the federal government, the Office of the Superintendent of Financial Institutions (OSFI) and the Bank of Canada, as well as quarterly reports of the banks themselves. While the estimates contained within this report have been externally reviewed and are based on the best available data, they should nonetheless be considered approximations of the actual values, until those actual values are released by the Bank of Canada and CMHC (or by the banks themselves).
support for Canadian banks from various agencies reached $114 billion at its peak. That works out to $3,400 for every man, woman and child in Canada, and also to seven per cent of Canada's gross domestic product in 2009. The figure is also 10 times the amount Canadian taxpayers spent on the auto industry in 2009.
Originally posted by stanguilles7
But if you read policy alternatives report, they explain where their numbers DO come from.
“While these funds were repaid in full, it is clear that the banks benefited enormously from public financing when private funds were unavailable,” wrote David Macdonald, author of the report released Monday.
Originally posted by Jocko Flocko
reply to post by tothetenthpower
And I've never been more proud of my country in many many years. My investments are doing quite well and I can at least know that the federal taxes I do pay aren't being blown on out of control suicidal social programs like the idiotic Liberal party is currently doing in Ontario right now. The moron we have for a premiere is destroying Ontario brick by brick, with lie after lie. The man is a disgusting joke who has now disrobed and jumped into bed with the NDP in Ontario so they can now force through even more left wing useless socialist bills, run up Ontario's debt even further.