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Canada has like 40 banks and strong regulation has kept them out of crises like in 2008. What’s the right number of banks per capita?
by Waterluvian 4y ago
Canada has like 40 banks and strong regulation has kept them out of crises like in 2008.
What’s the right number of banks per capita?
- tormeh 4y agoEasy to keep banks out of crises during good times.
- digging 4y agoThat seems a bit backward when banks can so easily be the cause of bad times.
- lowkey 4y ago> Canada has like 40 banks and strong regulation has kept them out of crises like in 2008 Canada secretly bailed out their banks to the tune of $114 billion CAD in 2008. If you compare Canada's secret bank bailout to the US equivalent on a per capita basis it looks even worse. [0] The reason we didn't hear about it at the time is that the big 5 Canadian Banks have so much power over the government and the media that they were better able to control the narrative. Concentrating power in the hands of a few banks is a bad idea. [0] https://www.cbc.ca/news/business/banks-got-114b-from-governments-during-recession-1.1145997 https://www.cbc.ca/news/business/banks-got-114b-from-governm...