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Old 10-28-2009, 12:21 AM
chinoy99 chinoy99 is offline
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Join Date: Oct 2009
Location: Halifax, Nova Scotia, CANADA
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Originally Posted by bullish View Post
I don't think will have many foreclosures here in Canada. The lending standards of Canadian banks were stricter compared to US banks, and we almost don't have subprime mortgages.
Bullish well said and correctly put. During the global economic recession, Canada's banks have remained well-capitalized, well-managed and well-regulated, not to mention highly profitable, and it is this profitability that leads to banking stability and contributes significantly to the retirement savings of the overwhelming majority of Canadians.

For two years in a row, the World Economic Forum has ranked Canada's banking system the strongest and most stable in the world. This is a home-grown success story that all Canadians should be proud of.

Also the Canadian taxpayers have not had to bail out Canadian banks and have not had to set up public entities to buy toxic assets. Governments in many other countries have.
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