No Bailouts! No New Spending!

[Peter F]

Banks don't need help, Harper says

Ruling out bailout ideas, PM cites report lauding the Canadian system

(Oct 10, 2008 04:30 AM )

The Toronto Star

Feds buy $25B in mortgages

Oct 10, 2008 09:55 AM

The Toronto Star

Flaherty

said the mortgage pools the government is taking off the banks' books are already insured by the government.

In fact, he said the government stands to make a small profit from the mortgages because government borrowing costs are lower than what the assets will yield in interest.

Flaherty reassures Canada about its economic growth after White House meeting

Sat Oct 11, 2:17 PM

Yahoo News

Flaherty:

"What we don't need to do, and I've certainly heard here - we don't need in any of our governments to make the situation worse by new taxes and new spending."

[Vancouver King]

Banks don't need help, Harper says

Ruling out bailout ideas, PM cites report lauding the Canadian system

(Oct 10, 2008 04:30 AM )

The Toronto Star

Feds buy $25B in mortgages

Oct 10, 2008 09:55 AM

The Toronto Star

Flaherty

Flaherty reassures Canada about its economic growth after White House meeting

Sat Oct 11, 2:17 PM

Yahoo News

Flaherty:

This from a Finance Minister who tabled two budgets with increases in spending so huge it would make a New Democrat blush.

[Cameron]

As a gun toting, wiskey swiggin' CPC member ( ) one of my sour points has been the amount of spending with this government. I want to see maybe a couple of percentages but not the level that it has been at.

In the last platform, they mentioned 3% (or something around that number, maybe higher I'm not sure), but it's been much bigger than that.

Less taxes, less spending.

I want to control my own life, I don't need the government to do it for me. Thanks.

[Moonbox]

CMHC bought the mortgage deals. It's a lot different than a government bailout.

This will not cost tax payers anything.

I won't expect or ask you to understand how it works, but feel free to form an opinion without doing so.

[Smallc]

CMHC bought the mortgage deals. It's a lot different than a government bailout.

This will not cost tax payers anything.

I won't expect or ask you to understand how it works, but feel free to form an opinion without doing so.

I'm not sure why some can't or won't grasp it, it isn't all that complicated.

[jdobbin]

CMHC bought the mortgage deals. It's a lot different than a government bailout.

Has Dion argued against the deal?

The objective of the deal was to get more liquidity into the market via a lowering interest rates. It did that. It remains to be seen whether investors will take advantage of that given other uncertainty in the markets.

[Smallc]

Has Dion argued against the deal?

I don't think that anyone said that he did.

[jdobbin]

I don't think that anyone said that he did.

I think the big thing that Flaherty is hoping is that this will pump prime the market in Canada.

I think it ignores the fact that are market is not operating in a vacuum. The blame Harper attributes to Dion for the market fall is rather amusing. Is he responsible for the fall around the world too?

Edited October 12, 2008 by jdobbin

[Moonbox]

I think the big thing that Flaherty is hoping is that this will pump prime the market in Canada.

I think it ignores the fact that are market is not operating in a vacuum. The blame Harper attributes to Dion for the market fall is rather amusing. Is he responsible for the fall around the world too?

I don't think anyone is blaming him. He's not in charge of anything. People ARE blaming Layton and Dion for being alarmists and worrying people though, that's all.

[Cameron]

One of the main reasons that the US has had this issue with subprime mortgages is that it took on very risky loans backed by people who couldn't pay.

http://www.thislife.org/Radio_Episode.aspx?episode=355

Listen to this. It opened my eyes and gave me a little more insight into what is happening.

Also

http://www.themoneymeltdown.com is a good site for all the "meltdown" news and facts.

Edited October 12, 2008 by Cameron

[jdobbin]

I don't think anyone is blaming him. He's not in charge of anything. People ARE blaming Layton and Dion for being alarmists and worrying people though, that's all.

The National Post editorial two days in a row blamed them even though no one on Bay Street was. The financial sector said the market dynamic was far above what was happening in Canada and barely registered barely any notice of what government or Opposition said or did in regards to it.

[Moonbox]

The National Post editorial two days in a row blamed them even though no one on Bay Street was. The financial sector said the market dynamic was far above what was happening in Canada and barely registered barely any notice of what government or Opposition said or did in regards to it.

I didn't see those articles but it would be a stupid newspaper to suggest that Dion affects the financial system itself. I imagine what was really being said was that Dion was fanning the flames of panic, which he is most certainly doing.

[myata]

Only to point out that on the scale of this country it is not that small a deal. Same buyout in the US would amout to $ 250 billions (with 10 times population) more than a third of their recently approved bailout package.

I do disapprove the measure at this time, will have to find out more information about it.

[Jerry J. Fortin]

Harper said that our banks were in great shape, no need to bail them out. That was what, a week ago? Now we hand over 25 billion to banks enjoying record breaking profits.

Something smells very bad. It looks like a smoke screen to me.

[Argus]

Harper said that our banks were in great shape, no need to bail them out. That was what, a week ago? Now we hand over 25 billion to banks enjoying record breaking profits.

Something smells very bad. It looks like a smoke screen to me.

Why would someone post something like this without even the most cursory efforts to find out what he was talking about? I really don't understand this sort of lazy thinking.