Election Day in Canada!
I became very busy with work and holidays and have been a negligent blogger–but better at least say something today.
I just hope that the Conservatives do not get a majority. If the world’s current financial crisis has taught us anything, it’s that unregulated capitalism and short-term thinking can get you into trouble. The UK and US are worst hit by this with their fully deregulated banking system, while Canada’s heavily regulated (and protected) banks will survive with less problems. Not saying that Canada is the be all, end all for government policies, but as far as banking is concerned, it seems to be pretty good.
Harper has been trying to introduce a more American system into Canada for a while now. Surely this financial crisis should point out the dangers in doing that.
No to the Conservatives!
The CPC is in no way taking an American approach, or as you say, trying “introduce a more American system”. This is simply fear mongering. Equate the CPC with the big bad Americans so that the opposition parties look frfiendly and lovable.
The fact is that the CPC implemented a wide range of effective measures prior to the economic crisis (which is party why Canada has suffered so little throughout the crisis). Many of these measures were in direct opposition to what the US was doing. For example:
The Conservative government has put a “halt to risky practices such as zero-down payment mortgages; set a maximum amortization period of 35 years for new government-backed mortgages; and enacted new disclosure rules for disclosure of risk by banks.
scottypruysers - October 14, 2008 at 6:15 pm |