Robert Nabloid

Against Big, Public Banks

Absolutely correct. Banks should be boring and conservative. My bank was, and my bank is fine! Although there are very few banks in Canada, we have regulations that make lending stricter and the banking system is very conservative and boring. Yes, a few of our banks bought US sub-prime mortgages as an investment (whoops!), but our banks didn't do the massive amount of sub-prime lending and largely avoided that mess.

The government is picking and choosing winners - and instead of rewarding the conservative banks that deserve to be rewarded, the government is rewarding the risky large banks who now act like they are "too big to fail" and know that they can take on extra risk - after all, the government has their back.

The funny thing about this is that some of the banks that received bail-out money so they can start lending again are actually planning on buying out smaller more conservative banks with that money.... fair? Nope.