The Bank of Canada is urging the government to inject much-needed competition into the banking sector, a move that the bank says could provide relief for Canadians grappling with a sluggish economy.
The banking sector has lined the pockets of government for years using it's ill gotten gains from business and personal banking. Having spent most of my life in business I have witnessed the abuse first hand. When one looks at banks boasting multi billion dollar profits quarterly while millions go to food banks and live on the streets it is easy to see changes need to be made but don't expect anything especially when the advice about freeing up the baking industry comes from the Bank of Canada, the organization that caused a lot of the present mess Canada is in.
My prediction: This speech establishes the narrative for Carney to introduce Bank regulation legislation. Included within the bill will be his "Bail-In" policies. There is ALWAYS another agenda.
There needs to be some regulation . But capitalism works for ME. You know free markets, free minds , free speech and competition in the market place. But then communists do not like this type of economy!
The banking sector has lined the pockets of government for years using it's ill gotten gains from business and personal banking. Having spent most of my life in business I have witnessed the abuse first hand. When one looks at banks boasting multi billion dollar profits quarterly while millions go to food banks and live on the streets it is easy to see changes need to be made but don't expect anything especially when the advice about freeing up the baking industry comes from the Bank of Canada, the organization that caused a lot of the present mess Canada is in.
My prediction: This speech establishes the narrative for Carney to introduce Bank regulation legislation. Included within the bill will be his "Bail-In" policies. There is ALWAYS another agenda.
And remember, the state of Canada’s economy has nothing to do with the policies of the Liberal Regime over the last 10+ years.
Uuh huh!
There needs to be some regulation . But capitalism works for ME. You know free markets, free minds , free speech and competition in the market place. But then communists do not like this type of economy!
If I was going to need advice, it wouldn't be from the boc.