The Big Banks

The Big Banks

www.policyalternatives.ca

Throughout the 2008-2010 financial crisis, Canadian banks were touted by the federal government and the banks themselves as being much more stable than other countries’ big banks. Canadians we assured that our banks needed no bailout. However, in reality, Canada’s banks received billions in cash and loan support during the 2008-2010 financial crisis—and the Canadian government has remained resolutely secretive about the details. This report examines the nature and extent of government support to Canada’s big banks, estimated on the basis of partial information provided by Canada’s pu

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This appears to be a big deal. Canadians have been repeatedly told their banks received no bailouts. Now we see evidence that they most certainly did, and many of their banks were completely 'underwater' while politicians were telling the pubic no bailouts were occurring.


Actual PDF of report: www.policyalternatives.ca...



www.policyalternatives.ca
(visit the link for the full news article)

“…we have not had to put any taxpayers’ money into our financial system in Canada, nor do I anticipate that we’ll be obliged to do so.” —Jim Flaherty, Minister of Finance8 “Without wanting to appear arrogant or vain, which would be quite un-Canadian... while our system is not perfect, it has worked during this difficult time, I don’t want the government to be in the banking business in Canada.” —Jim Flaherty, Minister of Finance9 “It is true, we have the only banks in the western world that are not looking at bailouts or anything like that...and we haven’t got any TARP money.” —Stephen Harper, Prime Minister10

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reply to post by stanguilles7


it seems that not only our thieving banks but their lackeys in office lied to all of us .but here is 1 very interesting fact about our great Canadian banking system.
the day that they announced that we were in a recession at 2;30 in the afternoon ,they had already jacked up the interest rate on our credit cards at 9;oo in the morning .but only on those that were paying 12% or higher interest rate.the hardest hit got a shock of 3 to 5% rate hike ,which does not sound like much but that is about a flat rate of 60% more in interest per year ,but your bill did not go up much did it.
where there is a will ,there is a way to beat them down to their thieving knees ,and take back that which is our own -CASH IS KING, oh thats right they are trying to OUTLAW CASH world wide ,i wonder why ,i`ll give you 3 guesses and it is not to help the people or the nations .