Canadian Bank Bailouts

Liquidity, an economists term for Bailout

Time after time I have tried to tell you, the reader, that this government is lieing when they tell you that Canadian banks were not bailed out

http://ca.news.yahoo.com/banks-received-billions-support-during-2008-09-crisis-162540292--finance.html

Excerpt from the report states in part......

The left-leaning think-tank estimated the country's largest financial institutions borrowed nearly $75 billion in short-term collateralized loans from the Bank of Canada and the U.S. Federal Reserve, peaking at $41 billion and $33 billion respectively.

The banks also sold a total of some $69 billion worth of insured mortgage-backed securities to the government, the report estimated.

The Centre for Policy Alternatives based its report on information provided by Canadian public institutions and analysis of the banks' financial reports.

The report noted that much of its work was based on estimates because the federal government and the Bank of Canada have refused requests for a detailed accounting.

"A healthy financial system cannot be based on massive government support for which the details remain secret," the report said.

America has Stevie Wonder

"Canada has Stevie Blunder (Harper)"

"It wasn't us, It was the previous government"

"Oh shit, we are the previous government"

" What the hell the voters are too stupid to realize we lied"
"It's not the first time and it won't be the last time"