Another Dion quote

[Slim MacSquinty]

Here what he said today in between whining about how Harper was mean to him:

"Dion said Flaherty's plan to boost the lending industry is "too little, too late."

Dion said the measures were exactly the ones he suggested during the federal leaders' debates. He said that when he made the suggestions at the time, Harper accused him of panicking.

"[Harper] said that Canadians don't worry about their mortgages, and their savings and their pensions," said Dion.

"He was sleeping on the switch."

"

Where is the banking crisis in Canada that he was too late for? There was no real estate bubble, there is no free fall of jobs, prices or anything else, there is no run on mortgare forclosures in this country. Flaherty traded securities to free up consumer and business credit for the short term, there was no need to do it before now. Also Harper did not say people don't worry about those things, never that just fiction.

He suggested no such thing during the debate and the stock market crash was on day one or two the day of the debate, the associated credit crunch really hadn't even occured yet. Either he is completely out to lunch on this issue or he is a bald face liar, or option three both.

[M.Dancer]

the associated credit crunch really hadn't even occured yet. Either he is completely out to lunch on this issue or he is a bald face liar, or option three both.

I beg to differ on that. I worked on a report that we started compiling in March on the credit crunch and how it was affecting M&A in canada and the ROW.

http://contests.theglobeandmail.com/laurelhill/

[Moonbox]

The banks have all been losing money on variable rate mortgages for at least a year now. This is because credit has been getting tight. It's not made up stuff, but we're in a way better position than the rest of the world.