Sunday, October 12, 2008

Piggy Banks ...

This week there was a report released that informed us Canada has the best banking system in the world in place right now.

We are "safe".

Yeah for us.

The Bank of Canada lowered the borrowing rate by .5%, and the banks in their wisdom thought it in our best interest to not offer this to us.

We were offered half .25%.

Yesterday, our government gave the banks $25 billion.

Harper is quoted as saying
This is not a bailout of banks; this is a market transition that will cost the government nothing.


I am not sure how the government can give away $25 billion taxpayer dollars and then have us believe it will cost nothing.

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