carney uk bound

[hedgehog]

seems we have hired one of yours to sort our bank mess out.
is he any good?

[cottonpicken]

Lets see him and flaherty dropped rates to nothing
then in 07 they came out with 0 down 40 year
mortgages and blew a housing bubble to 40% BIGGER
than the us bubble and the lions share went on
canadian mortgage and housing commissions back
which is the canadian tax payers back and the banks
only picked up a few percent of this debt and cmhc
went from 100 billion to 600 billion and then they
started tightening and now we are back to 25 year
mortgages 20%(down,i think?) effectively popping the
bubble but financially ruining anybody who bought in
the last 5 years and i think but not sure walking away
from a mortgage is not the same as the us you might
have to declare total bankruptcy i'll look that up and
even though everyone thinks we where a modern
economic miracle our chickens are now coming home
to roost.

[ajl]

Good riddance. We do not need a governer
of the Bank of Canada since we do what
ever foolish thing the Fed does anyways.
If the Fed prints, we print, because the
economy would not last long at $1 Can to
$2 US. As for Canadian banking, our
banks got bailed out on the backs of
Canadians as we have some of the highest
banking fees in the world. Canadian
banks have a license to steal.

[hedgehog]

looks like we hired the wrong guy,again.
but with clowns at the helm, what else do you expect.