Did Canadian banks receive a secret bailout?
Peter Henderson, Postmedia News Apr 30, 2012 – 10:46 AM ET | Last Updated: Apr 30, 2012 11:19 AM ET
The Canadian Centre for Policy Alternatives is accusing the government of giving this country’s banks a multibillion-dollar secret bailout in 2008.
In a newly released study, the centre-left group said that government support for Canadian banks from October 2008 to July 2010 was much higher than the government admitted.
“The federal government claims it was offering banks ‘liquidity support’ but it looks an awful lot like a bailout to me,” said study author and centre economist David MacDonald in a statement.
All told, the study counts $114-billion worth of guarantees and financial aid for Canada’s big banks from government agencies such as the Bank of Canada and the Canada Mortgage and Housing Corp.
Mr. MacDonald combed through financial reports from government institutions as well as quarterly reports from the banks themselves.
…yes, the canada gov. did give it as always undercovers, to trick us all that canada is better…! well canada’s banks are not better, they have the same logic of “speculative gains in the stock markets”…!
…AGAIN CANADA BANK, your past speculative “interest hikes” practices, does not make them legal…! YOU ARE defined as usury and illegal economists…! WHAT GAINS A BANK HAS IN THE STOCK MARKETS, a big number has lost their money…! EVEN IF THEY PRACTICED COMPANIES gains distribution of capital gains…! The system is not this, but to speculate, in over-priced stock shares…! IT IS THE WRONG LOGIC OF “GAIN” OR “LOSS” and not mere work, with only gains or income…! BE CAREFUL YOUR ECONOMY STRUCTURE HAS NO “NORMAL LOGIC”…!
…WHAT A GOVERNMENT CAN DO FOR BANKS is proof they could do it for all of us…! THEY ARE ANCIENT “SLAVISTS” OF HAVING poor and peasants, under them …! HENCE A COUNTRIES “DEBT” IS ALSO A HOAX AND BOGUS, as there is no need for it, as they make the money…!
…IF ALL COUNTRIES WERE RICH, they would not need to WAR [for treasure and money dominanace]…! The logic would have been completely another one…!
TO CHANGE TO SOMETHING DIFFERENT TODAY, will be only accomplishable in modern countries anyway…!
…for there to not be work for all in something with government and private guidance, IS THEIR DEGRADATION OF US ALL TOO…!
…do not ask a POLICEMAN or the RCMP, about anything of this…! They are the ones that “enforce” the slavery system…! NO POLICEMAN HAS EVER MADE a social law or rule anyway…! WHAT DO THEY KNOW of human rights…?