Harper's Conservatives Preparing To Dole Out Even MORE Billion$ To Canadian Banks!!
Pity the poor banks. Sigh. With interest rates so low, how can they possibly gouge Canadians sufficiently to scrape together billions of quarterly profits??
Well .... Stephen Harper to the rescue ... with your tax dollars!!
Harper is taking the same direction as the Republican administration in Washington. The Bush government has given $250 BILLION to American banks to stimulate the US economy. HOWEVER the banks are NOT lending out any of that money because .. well ... they were not required to give guarantees that they would! American banks are hoarding the tax money they have been given or are buying out other smaller banks!
Canadian banks are losing money from their American branches ... ("Bank of Montreal's midwestern U.S. branch network reported loan losses of $131-million in the quarter, compared with $129-million in the previous quarter, and $13-million a year ago.) According to Harper, Canadian tax dollars will simply have to be used to help out the 'poor' Canadian banking system!
The Canadian people were stupid enough to give Harper sufficient power to ensure that corporate welfare remains alive and well in Canada.
More Buckdog concerning what good corporate citizens the Banks are!