You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Reply #2: Murray removed it from his website, but it can be found here. [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
Home » Discuss » Places » Canada Donate to DU
Prometheus Bound Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jun-27-10 07:42 PM
Response to Original message
2. Murray removed it from his website, but it can be found here.
http://rabble.ca/blogs/bloggers/alex/2010/05/canadian-good-banks-myth

And he has this newer one up.

A response to the Bankers’ Association
Posted on June 5, 2010 by murraydobbin

When is a bank bail-out not a bailout? When the Canadian bankers’ Association President, Nancy Hughes Anthony says so. In her letter to the Vancouver Sun (which published my blog on the issue) Hughes Anthony points out that not a single bank went bankrupt and therefore did not require a bail out.

But call it what you will - the Canadian government borrowed and spent billions to backstop the banks lending during the recession and continues to do so. That borrowing is a cost to the taxpayer and many of the mortgages they bought up (starting with $75 billion in the fall of 2008 and then adding another $50 billion a few months later) could still go into default. If they do the taxpayer is still on the hook – not through the government but through the CMHC, a government backstopped crown corporation that had to be rescued by the taxpayer before.
http://murraydobbin.ca/2010/06/05/a-response-to-the-bankers-association/
Printer Friendly | Permalink | Reply | Top
 

Home » Discuss » Places » Canada Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC