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PrintAre Canada's banks prudent or reckless?
Call it what you will, but the Canadian government borrowed and spent billions to backstop the banks' lending during the recession and continues to do so.
POWELL RIVER, B.C.—When is a bank bailout not a bailout? When the Canadian bankers' Association President, Nancy Hughes Anthony says so, apparently. In her letter to The Hill Times in last week's issue, "Banks in Canada well-managed, well-regulated: Hughes-Anthony," (The Hill Times, June 7, p. 8), Hughes Anthony points out that not a single bank went bankrupt and therefore did not require a bail out.
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Are Canada's banks prudent or reckless?
Call it what you will, but the Canadian government borrowed and spent billions to backstop the banks' lending during the recession and continues to do so.
POWELL RIVER, B.C.—When is a bank bailout not a bailout? When the Canadian bankers' Association President, Nancy Hughes Anthony says so, apparently. In her letter to The Hill Times in last week's issue, "Banks in Canada well-managed, well-regulated: Hughes-Anthony," (The Hill Times, June 7, p. 8), Hughes Anthony points out that not a single bank went bankrupt and therefore did not require a bail out.
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