From the overly conservative Toronto Star.
http://www.torontosun.com/2012/05/01...ure-propaganda
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It sounds like a wonderful conspiracy theory: Banks get secret bailout worth $114 billion during the 2008 recession!
Bailout discovered by the Canadian Centre for Policy Alternatives.
In fact, this is all hooey. There was no bailout of our banks. The government did, in 2008, set aside $200 billion to help all Canadian businesses and households hit by the global credit crunch and banks were the tool the government used to help us all out.
Taxpayer money was never at risk of being lost and, in fact, taxpayers are making a tidy profit with the credit crunch assistance program.
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As Laval University economist Stephen Gordon noted on Twitter, the CCPA “took a low-grade Internet conspiracy, worked it up to a 25-page ‘study’ and managed to get the media to report it as news.”
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