Tuesday, September 25, 2012
Comment on strategic takeover
In my opinion the reason they, Harper and Flaherty, changed the mortgage rules is that as a result of the bank bailout and the spiraling housing market CMHC had reached a critical point and had to have relief from CMHC insured mortgages or they would require additional Federal funding and that would raise alarms. There was some chatter in the news, but no clarity from CMHC, just prior to the changes being addressed.
This was the nail in the coffin when it comes to my opinion of Harper.