On Fri, 22 May 2009 06:10:28 -0400, Jim22208 wrote:


Tell us how your banking system works differently from American banks.

Fundamentally it boils down to a more conservative (small c), and more
risk adverse management/regulation culture that prefers long term
stability to quick buck. I heard someone refer to the sub-prime/
derivatives market that whacked us: Canadian banks were up to their
ankles, we were up to our necks.

Something else that is interesting, Canadian mortgages are not tax
deductible. Mortgages get paid down there. Here we double and triple
them up. That might of had an impact on the sub-prime crisis in itself.