Comments on: Canada to Bailout More Banks by Buying Troubled Mortgages http://endthebailouts.com/2008/11/13/canada-to-bailout-more-banks-by-buying-troubled-mortgages/ Help Stop the Damaging Wall Street Bailouts Sat, 27 Feb 2010 05:10:28 -0600 http://wordpress.org/?v=2.8.4 hourly 1 By: Roger Strong http://endthebailouts.com/2008/11/13/canada-to-bailout-more-banks-by-buying-troubled-mortgages/comment-page-1/#comment-51 Roger Strong Thu, 13 Nov 2008 06:38:22 +0000 http://endthebailouts.com/2008/11/13/canada-to-bailout-more-banks-by-buying-troubled-mortgages/#comment-51 You misinterpret the situation. They's not bad mortgages. Canada isn't having that crisis. Canada's banking system was just rated the soundest in the world by the World Economic Forum. It didn't need the government bail-out and guarentees that happenned in the US and Europe. But that means that Canadian banks are having trouble competing internationally because they don't have the new US and European government-backed guarantees for everything they do. So the Canadian government is insuring mortgages to level the playing field. Again, these are sound mortgages. It's also loaning the banks money, with the bank's non-mortgage loans as collateral. http://www.reuters.com/article/regulatoryNewsFinancialServicesAndRealEstate/idUSN1230255520081112 You misinterpret the situation. They’s not bad mortgages. Canada isn’t having that crisis. Canada’s banking system was just rated the soundest in the world by the World Economic Forum. It didn’t need the government bail-out and guarentees that happenned in the US and Europe.

But that means that Canadian banks are having trouble competing internationally because they don’t have the new US and European government-backed guarantees for everything they do.

So the Canadian government is insuring mortgages to level the playing field. Again, these are sound mortgages. It’s also loaning the banks money, with the bank’s non-mortgage loans as collateral.

http://www.reuters.com/article/regulatoryNewsFinancialServicesAndRealEstate/idUSN1230255520081112

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