Canadian Bank Bailouts Explained
It’s slowly becoming more clearly that Canadian financial institutions received massive bailouts, all-the-while maintaining that everything was just peachy.
A report from EconomicReason.com takes a look at how Canadian banks were bailed out in 2008 and early 2009. More importantly, they review how the Canadian banking system is still exposed and how we may actually have a riskier lending environment than other countries.
This situation is of serious concern for so many reasons:
- The risk of continued financial uncertainty
- The cost foisted on Canadians
- Canadian politicians pretending that nothing happened and that we’re actually the most sound financial system in the world.
We need more truth on this issue, particularly since most bank CEOs hauled in record bonuses and pay checks since 2008.