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Baraka_Guru · 02-06-2010, 09:33 AM

Big Six banks urge Ottawa to tighten mortgage rules - The Globe and Mail

So, yeah, Canada's top six banks are asking the government to tighten the rules on mortgages to slow the housing sector to avoid a "U.S.-style" collapse.

How crazy is that? Six big banks forgoing short-term profits for long-term stability...by requesting regulation reform from the government. That's some kind of weird pseudo-self-regulation. From banks.

See what I mean? It's like a different world up here.

And before you think "chicken feed; it's Canada," bear in mind that our "Big Six" take up the 7th, 8th, 9th, 10th, 12th, and 21st positions in asset size of North American banks. Of course, that may have changed since the crisis. They could be ranked higher by now for all I know.

02-06-2010, 09:33 AM	#13 (permalink)
Baraka_Guru warrior bodhisattva Super Moderator Location: East-central Canada	Big Six banks urge Ottawa to tighten mortgage rules - The Globe and Mail So, yeah, Canada's top six banks are asking the government to tighten the rules on mortgages to slow the housing sector to avoid a "U.S.-style" collapse. How crazy is that? Six big banks forgoing short-term profits for long-term stability...by requesting regulation reform from the government. That's some kind of weird pseudo-self-regulation. From banks. See what I mean? It's like a different world up here. And before you think "chicken feed; it's Canada," bear in mind that our "Big Six" take up the 7th, 8th, 9th, 10th, 12th, and 21st positions in asset size of North American banks. Of course, that may have changed since the crisis. They could be ranked higher by now for all I know. __________________ Knowing that death is certain and that the time of death is uncertain, what's the most important thing? —Bhikkhuni Pema Chödrön Humankind cannot bear very much reality. —From "Burnt Norton," Four Quartets (1936), T. S. Eliot Last edited by Baraka_Guru; 02-06-2010 at 09:39 AM..