Actually, if you look at the history, you'll see that many in the Canadian government and the banks themselves felt that they were missing out on all the great

Actually, if you look at the history, you'll see that many in the Canadian government and the banks themselves felt that they were missing out on all the great action that US banks were able to get in on. It was the prudence of the government of the time that saved them. If it was left up to them, the banks up here would be in the same state as American banks. To suggest however that the government somehow forced American banks to lend to people that didn't deserve it against the bank's better judgment is garbage. That doesn't explain half of the EU's current problem. No, the one exception between Canada and the rest of the world right now is that we have tighter regulations on our banking sector.