Quote:
Originally Posted by flameswin
Holy crap, wait til Slava sees this.
|
Quote:
Originally Posted by Fire
Also the $75 billion in short term loans to the banks have been repaid. The $69 billion in mortage-backed securities the government bought will actually make the government money ($2.5 billion by 2015) assuming the housing market doesn't crash hard.
|
This is basically what happened. Honestly this is a case of the CCPA trying to make a story from old news and trying to re-frame that information to look like the government gave away money. The majority of the money was guarantees for the banks and CMHC, and given the circumstances was entirely necessary.
I don't care for these special interest groups, personally. Quite often they are pushing some agenda and not actually providing any thoughtful discussion. In this case it would be interesting to see what their policy alternative would be? I suppose it would be some kind of perfect blend of hindsight and knowledge of the outcomes four years later.