The Stimulus Is A Failure

[KrazyHorse]

Drake, meet internet

[Drake Tungsten]

I don't like it.

[ricketyclik]

What the **** is going on in this thread? Why is some poster I've never heard of imagining that I was making a point beyond calling American political leaders "retards" and refuting that imaginary point with anti-corporate idiocy?

Yes, I'm aware of your difficulty in playing join the dots Drake, even in your own posts.

[Drake Tungsten]

It's "connect the dots", you piece of **** foreigner of some type.

[C0ckney]

it's join the dots.

bloody yanks.

[ricketyclik]

If we were to miraculously find middle ground on this then we'd be conjoined!

[Dinner]

You want to be conjoined with Drake? Eww...

[Asher]

You are completely missing the point, HC.

ricketyclick is hypothesizing that the reason Canadian banks suffered less from the GHC is due to two reasons: they operated under a different regulatory environment, and they had a different business ethic (were less "greedy", colloquially). These differences resulted in them making better decisions.

To clarify, the Canadian banks wanted to do the same kind of **** the US banks were doing. Begged, even. The government refused to let them do it. Their profits were less in the good times, but they weren't nearly as vulnerable to the bottom falling out as the US ones were. Canadian banks were leveraged less and the "big five banks" were not allowed to merge to form megabanks which would facilitate the kind of large activity that got the US in a lot of trouble.

At least, that's my plebian interpretation. KH can feel free to tell me to **** off on this.

I don't think DT is entirely wrong either, mind you -- I think the economic leadership in the Canadian government is pretty strong. The PM is an economist, and the Bank of Canada governor built his career at Goldman Sachs (where he was head of Sovereign Risk and managing director of investment banking) before being named governor of the central bank. From what I understand, he's a very bright guy.

[Drake Tungsten]

Harper is much smarter than Obama.

[Hauldren Collider]

I've always gotten the feeling that Obama's populist, not an idiot. But the effects are the same.

[Drake Tungsten]

Obama's not an idiot, but he's not that smart, either. Harper actually seems pretty intelligent, for a politician.

[Asher]

On what basis?

[Drake Tungsten]

For which judgment?

[Asher]

On whose authority?

[Drake Tungsten]

Is my authority not enough for you?