From the Globe and Mail -
"Ten years ago this fall, after his government rejected a pair of proposed bank mergers, the financial community was awash in dire prophesy: Canadian banks were too small to compete with their bulked-up neighbours to the south, the critics complained. They were too insulated to remain relevant in a global economy characterized by lightning change and mind-bendingly complex products. Yet today, amid the worst financial crisis in a generation, those predictions have been turned squarely on their head. While Wall Street titans succumb to a credit meltdown, spreading their contagion to the Canadian banking system has emerged as the most stable and best performing in the world."
Ten years ago? Who was Prime Minster at that time? Was he an economist? Nope. Could he speak great English? Nope. Did he have good advisors and actually listened to them? Yes Who was that PM?
Liberal PM Jean Chretien must have a big grin on his face right about now.
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