Quote:
Originally Posted by Zulu29
Has this really ever happened before? As a former (their actions of late have totally turned me off) conservative supporter this just reeks of unnecessary meddling. It totally goes against conservative values of allowing free market. They got rid of the wheat board, why is it ok for farmers to sell their grain on an open market but not banks to sell their mortgages?
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It's the government that will have to bail out the banks and mortgages if the crap hits the fan. They have good reason to meddle. The reason Canada came through the recession in good shape compared to other countries is because of better regulation of the banks.
I would normally agree that less government the better but in this case I like having my money guaranteed not to go poof if bank goes bankrupt.