Ottawa buying $25-billion in mortgage pools

Ottawa buying $25-billion in mortgage pools

www.theglobeandmail.com

Ottawa is buying $25-billion in insured mortgage pools in an effort to boost lending by the country's banks and reduce borrowing costs for Canadians, Finance Minister Jim Flaherty announced Friday.

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Related News Links:
www.cbc.ca
www.bloomberg.com
www.guardian.co.uk

The poster child for stability . . . Canadian banks . . . are following suit with the rest of the world.

Although they claim it is not to buy up 'toxic debt', they do claim that the global credit markets are making it difficult for the country's banks to float loans between themselves which is trickling down to the consumer level.

The Canadian goverement has been pretty upbeat through this and have claimed on numerious occasions that they're pretty safe from all of this.

If that is the case, why spend $25 billion . . . maybe because of 'outside influence'?



www.theglobeandmail.com
(visit the link for the full news article)