Why Canada's Banks Don't Need Help

Chuck · Guru

RE: Why Canada's Banks Don't Need Help

Max · Regular

The government is buying $25 billion (25,000 millions) of insured mortgages with the Canadian banks. If that is not help...

God · Foro Master

For what I heard this morning in the news..in fact 1010 Am they were talking about it....

Visa is raising up to 25% to clients that miss 2 payments, because alot of people is missing payments...

According with national Post this weekend there was a meeting with all the premiers because things are not looking good, they saywe are facing a huge deficit...

Who knows..

TV Buff · TOP Guru

X4v13r wrote:

Good to know that my money is safe.

Why Canada's Banks Don't Need Help

In the midst of the worst financial crisis since the Great Depression, Canada has joined the ranks of governments that in recent weeks stepped up to help banks cope with more fallout from bad U.S. subprime mortgages. In Canada's case, however, the reason for the assistance is a little different from some of its G-7 partners. Unlike banks in the U.S., Britain and Germany, which needed to be bailed out with hundreds of billions of dollars in new capital, Canada's major banks are solid and solvent. They don't need any help to work through their subprime exposure.

read the rest HERE!!!

~X

I actually like the way Canada handles their finances... Canadians are not crazy spenders and are very careful with their money, and the government seems to be very responsible. We've lucked out.

X4v13r · Comandante

Good to know that my money is safe. smile

Why Canada's Banks Don't Need Help

In the midst of the worst financial crisis since the Great Depression, Canada has joined the ranks of governments that in recent weeks stepped up to help banks cope with more fallout from bad U.S. subprime mortgages. In Canada's case, however, the reason for the assistance is a little different from some of its G-7 partners. Unlike banks in the U.S., Britain and Germany, which needed to be bailed out with hundreds of billions of dollars in new capital, Canada's major banks are solid and solvent. They don't need any help to work through their subprime exposure.

read the rest HERE!!!

~X