Too Big to Fail

[Kidlicious]

The way to fix it all is to make me too big to fail too.

This. Basically. What's good for the banks is good for everyone.

[Uncle Sparky]

The way to fix it all is to make me too big to fail too.

Isn't that already the American way? :

[Myrddin]

Take the long view - recapitalise the banks when they are in crisis and sell the stakes at a profit when the economy is growing again.

And, of course, have regulators who know what they're doing and have the information to regulate - Lehman's 'repo 105' is an example of exactly what should not happen.

[Aeson]

Isn't that already the American way? :
[ATTACH=CONFIG]170462[/ATTACH]

America. **** Ya!

[notyoueither]

It should be pointed out to non Canadians that the strict banking laws were put in place by Liberal governments, not Conservatives. The Conservatives, of course are taking credit.
One thing the Cons are doing is allowing a large number of new bank to start. Most are attached to retail or insurance companies. What could possibly go wrong?

Actually...

The Bank of Canada was founded by Act of Parliament (1934) in 1935. Bennett (Conservative) was PM.

The last update to the Bank Act was in 1991. Mulroney (Conservative) was PM.

The consolidation of the finance industry (insurance, brokerage, etc) into the Big Five was done under Liberals and Conservatives. However, it was the Tories who prevented most corporations in Canada from escaping business taxes (I should think you would approve).

Other than these obvious things that can be checked in 30 seconds on wiki, good post!

[CultureClash]

Here's another vote to just let them fail.

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I'm always looking for a funny status & dad jokes

[Uncle Sparky]

Actually...

The Bank of Canada was founded by Act of Parliament (1934) in 1935. Bennett (Conservative) was PM.

The last update to the Bank Act was in 1991. Mulroney (Conservative) was PM.

The consolidation of the finance industry (insurance, brokerage, etc) into the Big Five was done under Liberals and Conservatives. However, it was the Tories who prevented most corporations in Canada from escaping business taxes (I should think you would approve).

Other than these obvious things that can be checked in 30 seconds on wiki, good post!

I never sorce Wiki. If you check the same article tomorrow, you will find that the changes were made under Prime Minister Poutine, who was a Democrat.

(Actually, in 1934 the Bank of Canada was a private corperation. It became a Crown corperation in 1938, under Mackenzie King, a Liberal.

[notyoueither]

Sure. The Liberals made changes. It does not change the fact that the Bank of Canada was brought into being under Conservatives.

Then there is the last major update to the Bank Act (under another Conservsative government).

How does this jive with your assertion that only the Liberals are due credit for our banking laws? Not well, IMO.

[Kidlicious]

How is Canada too big to fail?

[Uncle Sparky]

IIRC, the NDP & Liberals delayed the 1998 ammendments and the Liberal dominated Senate refused to pass the bill until some of the more egregious Con ideas were removed from the bill. Two of the big banks wanted to merge (I don't remember which) and the Cons wanted to let them, and I don't recall the other problems... you'll have to Wikki the details yourself.