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Canada envy, amid a global meltdown

From Saturday's Globe and Mail

Formerly derided as meek and mild, suddenly the reputation of Canada's big banks as prudent has become an asset ...Read the full article

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  1. Audrey Welsh from United States writes: This is why I think the financial crisis won't be as bad in Canada as it is in the US. Not to mention that Canada has been running a balanced budget while Dubya ran up monster deficits for eight years.
    Maybe it's time for me to buy more loonies. :-)
  2. J A from Ottawa, Canada writes: Another self-congratulatory feel-good article. Yes, Canada is immune to the crisis. What a beacon of hope it is!
  3. Jason T from Canada writes: The fact that our banks are in decent shape is almost totally irrelevant. If the US slides into a depression with Europe and Asia closely on it's heels it doesn't matter one bit what shape our banks are in. If nobody is buying our exports or raw materials we are also headed for a depression.

    It is not our economy that will drag us down, it is the economy of our trading partners that will drag us down with them. face the hard facts!
  4. P W from Canada writes: Yes right it was the Banks being conservative. If the banks had their way a few years back they would have merged and been just as drunk at the trough as CitiBank. As hard as it is to believe, it's the government and the people of this country that kept them in line.
  5. garlick toast from Canada writes: It's a little early to gloat.
  6. Dave C from Canada writes: Canada's national identity:

    Hockey
    Tim Horton's
    Our Banks
  7. Don Quixote from The bone cold Mosquito Belt, Ont., Canada writes:
    Should it happen that our Canadian economy fails, due to worldwide external depression, where does that leave our oh so safe Banks?
  8. Bob McDonald from Canada writes: Don't kid yourself. When the US economy staggers, so too the Canadian one. We are clumsy dancing partners.

    Watch as Washington faces the same desperate challenges that Iceland is now enduring. The future is going to be blacker. Invest in Canadian resources like oil, mining and, maybe forestry. Their stocks are too low now and will rebound faster than most others. Ask Peter Schiff of EuroPacific Capital - one of the few American analysts that saw all this trouble years ahead of time. CNN and Fox laughed at him.
  9. Brent Raby from writes: 'I hate banks. They do nothing positive for anybody except take care of themselves. They're first in with their fees and first out when there's trouble.'

    Earl Warren, Chief Justice of US Supreme Court.

    Now there was a guy.
  10. C K from Canada writes: The Canadian Banks are the envy of the world. Most bankers would love to work in an oligopoly. It makes things so much easier when their is a lack of competition.
  11. Percy from NL from Canada writes: The economy of our single largest trading partner is tanking. And now we just find out that our federal government is refusing to spend up to $3.6 billion of last year's approved infrastructure money to stimulate the economy. Yep, Mr. Harper will ensure that we'll catch up (or maybe the word should be 'down') with the rest of the world soon enough.
  12. Peter Dyck from Winnipeg, Canada writes: A good synoposis of the five banks. Good governance, measured risk taking and a composition of a competent management team along with directors performing and taking their jobs seriously goes a long way to keeping an entity out of the ditch. Let's make a note lest we forget.
  13. R. M. from Regina, Canada writes: I wonder how the ever present Liberrrrrrrrrrrrral hack posters can take credit for this headline and story?
  14. kevin o'connor from Canada writes: Canada conservative?!?

    Don't the authors know that it's radical right wing ayn rand, milton friedman extreme, trickle down, the market is always right (and perfect and infallible, like a mix of the pope and god), if you believe in a graduated income tax system you're a bolshevik type thinking that is the true Conservatism? Just ask Rush, or Dubya, or Bill O'Reilly (or tens of millions of other Americans). Canada is by definition socialist. Where have the authors been the last few decades? I mean it's so lefty loony that I hear the government is going to nationalize the banks! Um, hold on a second...
  15. Rewardthe Crooks from Canada writes: KooDoos to the Canadian Banks, and our Conservative on the outside wild in bed attitudes!
  16. Censured Comments from Canada writes: I think we need to rethink the way we do absolutely everything. No politician or bank is going to save us from what we have all created. But it will be for the good. Because we really don't need to be saved. So wake up.
  17. D Mores from Canada writes: For those of us holding bank stocks, this story is no consolation. The share prices still suck.
  18. f c from Canada writes: Hmmmm....aside from the fact that the banks are NOW getting .5% from the Bank of Canada and they are not offering consumers and businesses anywhere near that t borrow money...oh yeas the PIRATES are stellar. GIVE ME A BREAK!!!!! Taxpayers are giving them a 'grant' of free money and they are profiting off of the Goverment....aka US!!!!Oh yes, they are far better than anybody else!
  19. ALASTAIR JAMES BERRY from Canada writes: The collapse of the share prices of Canadian Banks show that the MARKET PLACE does not hold the same POLLYANNA view as the two authors of the article do!
  20. siren call from Canada writes: Rewardthe Crooks from Canada writes: KooDoos to the Canadian Banks, and our Conservative on the outside wild in bed attitudes!
    ...........................

    I see the subliminal repetition of the word 'conservative' in this article hit one mark, anyway.

    Yes, so the banks should be passing some of this along in terms of oh, say, increased interest rates on our accounts?
  21. john doe from toronto, Canada writes: uh huh, canada envy of the world.

    wait, i guess this is the part where i am supposed to begin spending, now that this newspaper article says everything is fine now.

    and what about the laid-off manufacturing people, they must be totally agreeing with this article. they are confident factories will reopen and they will all be re-hired soon.

    wait for another 12 to 16 months, and remember this overly confident article about how CANADA is the envy of the world.

    the world will soon find out just how similar canada is to the americans south of our border.
  22. Shawn Bull from Canada writes: Makes you proud to be Candian....and we have both the Liberal and Conservative governments to thank.
  23. Republic of Saturn from Canada writes:
    You should thank to the GST, PST...and every regular Canadians, not Canadian banks.

    It's the tax money everybody pays that helps in improving Canadian financial situation, not much banks' contribute.
  24. The Real PS from Canada writes: There's also nagging doubts that dividend payments are unsustainable.
    .
    Well that's good then, let the dividends continue...
    .
    Ya think someone would edit this stuff wouldn't you.
  25. Tor Hill Sask. from Canada writes: So are the banks lending any money these days? What a farce this all is. Thank heavens this little article won't get any real exposure in Canada. Of course, people are vaguely aware that our banks are doing okay. There, one sees an opportunity for a strong Liberal ad in an election. Don't let the Harper Conservatives take any, ahem, credit for this stability, whatever it might be. Quite the opposite, I would say.
  26. Mr Magoo and Tyler too (variation on a theme) from Canada writes: Canada will come out of this recession smelling like a rose. Mark my words.
  27. Jimmy connors from Canada writes:

    'Derided for years as meek and mild...'

    Unfortunate reality is that most of the 'deriding' and 'meek' comments have come from (weak) canadians.

  28. Simon Proxy from Canada writes: The right and left hacks are so busy trying to slam each other or crow for themselves that everyone is missing the real reason the banks in Canada are doing better than elsewhere.

    Do you know what the average American pays in service charges to write a cheque these days? Even without meeting the minimum deposit requirement for free service in most States the first 6 cheques cost NOTHING!

    Do you know what they pay to take their money out of a bank machine down there? NOTHING from your own bank while many banks in the US actually reimburse their clients for the fees, or surcharges, that other banks may charge for using their Card to get cash from other bank's ATMs.

    Small wonder Canadian banks aren't hurting as badly because unless you're with ING DIRECT or PC Financial you're not just helping the banks with Government support, you're generating a combined billion dollars a year in fees just by having an account!
  29. charles ANTHONY from Canada writes: Canadian dollar should be much higher if true. Why not? Because our Central Bank keeps the lid on it. Why? To keep an inefficient dinosauer manufacturing sector alive. Give the loonie the respect it deserves and the average Canadian some buying power internationally. That is the prudent strategy. Carney should working for all Canadians.
  30. Oscarh Canadian from Canada writes: A few weeks back, Norman Spector, well known Conservative from the Mulroney era commented on an American article about the strength of Canadian banks. His comment was brief: 'Kudos to Paul Martin.'

    He resisted pressures to deregulate from the Harper apostles and we all benefit today. Give credit where credit is due, as Spector did.
  31. C B from Toronto, Canada writes: This is a very hopeful and happy article and Canadians should be proud that our banking system is sound but, it is not the main issue. When our largest trading partners suffer a depression it will cause their industries and companies to spend less, meaning less trade with Canada, which means we will suffer dramatically, since it is our exports to other nations that often keeps our economy afloat...not our banks.

    Having said that, our banks are very important as they lend money, mortgages, etc, but still, our largest problem will come when the worst of the crisis hits, especially the US (obviously).
  32. Hee Hoo Sai from Canada writes: Every once in a while the government, quite inadvertently, does something intelligent, in this case keeping some control on the banks, especially back when they wanted to merge and become players on the international scene. Possibly Mr. Martin is the person to thank for that. But, other incidents of note would point to liberal's self interest taking precedent over service to Canada.
  33. Retired from Niagara from Canada writes: Thank you very much Paul Martin
  34. Richard Provencher from Truro, Canada writes: Some great news for our Canadian stability. Well done present and past governments.
  35. SL S from Saskatchewan, Canada writes: Being the only country in the world that can enjoy complete self reliance if required does help this situation a great deal. I have always felt that this recession/depression, whatever you'd like to refer to it as, will not be near as bad in Canada as it will be elsewhere. The auto industry may take a hit but re-tooling for different products is easily achieved should any of the big 3 go totally under. Always keep in mind that Canada has the raw materials that everyone else wants and our industry can be quickly changed to provide finished products as well as raw materials. We won't get away un touched but we will fair better than most.
  36. Kevin Sutton from Toronto, Canada writes: Indeed. Canadian Banks were forced by the government to make money the old fashioned way-- by bleeding us dry. ; )

    But better to have your country's banks playing rough with their customers than making up money that doesn't exist and financial products no one understands.

    Maybe the banking culture is naturally cheap and risk avoiding in the way Canadians can be... but I suspect it was far more about regulations and laws.
  37. Wandering Willy from Kelowna, Canada writes: The one question that keeps being repeated from the detractors of Canadian banks is that they owe their prosperity to the monopoly they have in Canada.

    Someone of this mind thought please tell me how inviting for example Citigroup into Canada would be of benefit to Canadians. I am at a loss trying to figure out some of the comments posted on these forums.

    As for the credit union advocators.......have you recently checked their balance sheets? I expect a few big ones will go under soon.
  38. R. M. from Regina, Canada writes: I asked: You (R. M., from Regina, Canada) wrote: I wonder how the ever present Liberrrrrrrrrrrrral hack posters can take credit for this headline and story?

    Didn't take long and in typical immodest fashion the praise for themselves was fulsome!
  39. charlie brown from Canada writes: Shawn Bull from Canada writes: 'Makes you proud to be Candian....and we have both the Liberal and Conservative governments to thank.' Spot on Shawn. Sad that partisans on both sides of the House cannot get beyond their juvenile bias' to admit the truth. Pity. Canada would be much better off without them!
  40. blair w from Canada writes: It's not over until it's over. Just a year and a half ago all the bank economists and managements were patting themselves on the back and saying Canada will not be hit by a recession. Canadian 'everything' is better. Well here we are following the world and the US down in economic activity and job losses...but with a lag. Bank stocks are down to pre 2000 values and ROEs are dropping and loan losses mounting. Hope we aren't eating crow again in a year.
  41. siren call from Canada writes: Simon Proxy from Canada writes: Small wonder Canadian banks aren't hurting as badly because unless you're with ING DIRECT or PC Financial you're not just helping the banks with Government support, you're generating a combined billion dollars a year in fees just by having an account!
    ............................................

    Exactly! Some of the bank profit$$$$ should be coming our way.

    There was a politician who spoke to this and little Flaherty nearly laughed himself sick at the poor dude. Then Flaherty decided he should look into it, since it seemed popular and all. Whatever became of that look into bank charges?
  42. Shaky Lady from Guelph, Canada writes: Thanks Paul Martin and J.C. ...... for stealing from taxpayers with illegal E.I payment amounts. Who cares though - the libbys are thrilled with this! On the other hand, how many of them actually pay taxes?
  43. Carl Sterritt from Canada writes: Buy bank shares and a lot of them over the next 12 months & get a great long-term return. We really do have a great banking system and it's already evident that we won't be hit as hard as most of the world. I do a lot of business on the other side of the border & it's not the same there. My office is in Waterloo, Ontario & the economy in that area is booming.
  44. Upper Canadian born and raised in Western Canada from Canada writes: Good news for the Banks!

    Good news for Canadians!

    Congrats!
  45. Grey Geese from Canada writes: the canadian banks may not have lost the same money as their american cousins but they are still in the business of helping rich people
  46. Tippy Antropov from Toronto, Canada writes: I work for one of these institutions, and the ongoing and ever-present regulatory oversight that dictated our each and every move (that seemed like wearing a perpetual weight around our necks) ironically proved to be our saving grace. Regardless of the length and depth of the downturn with our trading partners, the reason why we have been able to remain buoyant is a tribute to the honerous structures that make our machine plod forward. Vis a vie our competition and strategic path with foreign banks, I liken it to a race between the tortoise (us) and the hare (them). In the end, we know who wins.
  47. Rolloff deBunk from Canada writes: Let's see what Mr Harper the financial guru can come up with. It is his time to fish or cut bait
  48. Paul Byer from Canada writes: Rolloff deBunk from Canada writes: Let's see what Mr Harper the financial guru can come up with. It is his time to fish or cut bait
    ......................................................................................

    In case you haven't noticed, he has been cuttin up Iffy Iggy for a couple of months now and Iggy is still thinking he is a probation officer. Iffy not even good bait.

    Good luck to him.

    Iggy is MOOT. Not of any practical value. Purely Academic.
  49. Robert Bland from Calgary, Canada writes: Grey Geese from Canada writes: 'the Canadian banks ... are still in the business of helping rich people.'.
    >>>>>>>>>>>>>>>>>>>
    I'm not a rich person. I maintain a minimal balance and get a CPP pension. Almost immediately I'm back at a minimal balance after paying for rent, phone, internet, etc. I do all this on-line in real time through secure on-line banking. For this service, I pay $0.00 in account service charges.

    To me Canadian banks offer the best service in the world!
  50. Arvid Hambler from Scarborough, Canada writes: I'm sure there IS a cultural difference within our banks; but that has been accommodated by a difference in other public policies too, such as foreign behaviour. Canada's balance sheet hasn't been rendered tenuous through foreign military swagger. Afghanistan is our only bleeding sore on that point; but the US can't seem to help looking for foreign enemies around the world.

    Being the bully on the block is an expensive business . . . .
  51. Robert Lepage from Canada writes: Oh come on Shaky Lady, get your facts straight.

    They took money out of the E.I. fund and, once they were done with it, replaced it. If it weren't for the conservatives who dipped into the fund and a québecer trying to sue them for it, this would never have made it to the news.

    The only thing that was 'wrong' of them is setting the terms of interest on the E.I. fund.

    But I guess facts tend to ruin good brainless rants, eh?
  52. Desmond Whitton from Canada writes: I'm pretty sure we should also be thanking 13 years of prudent Liberal government for this as well.
  53. Carl White from Canada writes: This is largely the product of chance, in my opinion. If the Conservatives had been in power rather than the Liberals for most of the last decade, they'd have gone along with the deregulation happening in the U.S. and elsewhere.

    Also, why loan out money when you can pay virtually no interest and charge service fees for everything?
  54. Desmond Whitton from Canada writes: Shaky Lady from Guelph, Canada writes: Thanks Paul Martin and J.C. ...... for stealing from taxpayers with illegal E.I payment amounts. Who cares though - the libbys are thrilled with this! On the other hand, how many of them actually pay taxes?
    --------------------------------------------------------------

    Oh right, ConBots are the only ones who pay taxes.
  55. joseph Cheng from Canada writes: Feeling good to thump our own chests excepting those shareholders of CIBC, RB etc who are probably still feeling lousy. Their share values all declined by 60% or more from barely a year ago! Are there any feel-good shareholders of Canadian banks who would like to write their banks to express their gratitude for a job well done and recommend their CEOs to get hefty bonuses?
  56. desiderio manzanal jr from sunshine, Canada writes: A matter of somewhat better governance but the current government does seem to lean toward our southern neighbor. . Those big US banks pulled off the biggest dissapearing money act the world have ever seen and created such market instability world wide that flattened the confidence of many investors and world market creating a domino effect at the level of the Great Depresion. A really smart way of hiding crime. Citi Bank....where did all that money go...vanished into thin air. Money does not dissapear, it goes into the economy in some other form to create activies. Bank credits were generated to fund real state moguls that sold reals state at inflated prices. Investment securities in derivative form were generated from known faulty based and when it started to fall they were caught off guard. Are we seriousely believing that these over eductated bankers... graduated from the most prominent Universities in the world were our smarted by executives at our Canadian Banks. Really... well lets name a few Madoff, Stanford. Leman brothers.... The best minds in the world were caught unaware....yet we have Madoff telling everyone...hey look at what i did it was a 50 billion ponzi scheme and we think these other big banks were just taking big risk. Do you believe that. Do you believe a small portion of the poor was responsible for collapsing banks due to their toxic action of wanting a house. Or was it that they were put into indebtness and a lot more life bondage. A bigger ponzi scheme was played here and the financial system all got panicked and investors stampeded out creating a nightmare scenario. Lets just hope the slowed down of economic activities from all this would have some un intended beneficial effect like slowing down CO2 emmisions after all ....
  57. Curly Maple from havenotsville, Canada writes: Weren't these the very banks that got a bail out back in the fall? Jesus people, get in the game.
    hoka hey
  58. C R from Canada writes: Harper wanted to deregulate. It's unfortunate that it takes such an economic crash to illuminate the dangers with this guy.
  59. Dr. Bundolo from Skookumchuk, Canada writes: Thank gosh for Paul Martin and the Liberals who ran a great ship that has us in such a good situation. Luckily Harper didn't have time to unravel things back to Brian Mulroney days of deficit. But he was and is working on it. Soon though Stevo will get the boot and we have a chance to recover.
  60. Mo Friendly from Canada writes: Since you'll find absolutely no reporting here, and be unable to post a comment without it being hand-picked on any story regarding the Afghan War for Heroin Cash Flow, or the Financial Crime Crisis, I thought someone might find it a matter of interest to read this interesting tidbit of history. http://www.uniset.ca/other/css/691F2d1384.html It gave me a laugh anyways. I thought I'd Google 'bank of nova scotia crime cayman' after seeing they bought a Cayman firm that 'offers a variety of corporate services, including offshore company incorporation.' The related article isn't taking comments of course. I'm trying not too be hard-hitting here. If I connect, either this will be deleted or the story will be bumped to obscurity, but check out the link.
  61. Donna Smith from Canada writes: In Canada, during the 30's depression, there were no bank failures. If economic conditions continue to deteriorate elsewhere in the world, maybe our banks will become the goto location for preservation and safety of capital.
  62. Robert Bland from Calgary, Canada writes:
    Sometimes Canadian banks can be too nice!

    see: http://tinyurl.com/bgs263
  63. Ontario Guy from Canada writes: We didn't give the banks money. We just took over all their 'iffy' mortgages to the tune of 1.2 Trillion (if you count that the US is 10 times bigger than Canada).

    So, Canadians actually gave the banks more per capita than Americans.

    Yea, we are the envy of the world.

    It is like being the best looking horse in the glue factory.
  64. Mark Chynoweth from Toronto Beijing, Canada writes: In all of the comments here only one of you seems to have gotten to the point: service. I am so glad that Canadian banks are boring and meek because I do not benefit in any way from Canadian banks being big players on the international scene. If Scotia Bank and TD merge, what possible benefit does that have for the general Canadian public? Absolutely none. I just want to know that my money is safe, my service is first rate, and the products offered me are cutting edge. The rest is just bluster,and as we have found out, the bigger they are, etc.
  65. steff thiry from vancouver, Canada writes: All these comments and none seems to question the basis of the article. It is simply sad the lack of critical thinking in this forum.
    Are really Canadian banks that safe? What is in their balance sheets? Are they marking to market?
    The goverment has already bought 125bilion of morgages from banks, given the size of the canadian economy, that would be 1.25 trillion if one would compare that to the states.
    Do we know the full extent of 0/40years morgages? Real estate is only starting to come down in canada, and close to 75% of morgages were 0/40 before the goverment decided to ban them.
    Why we never see a full investigation of this?
    There is a total lack of transparency in this country.
  66. Blue Minotaur from Canada writes: Our banks lead the world in greed. Our banks are raising interest rates on lines of credit at this very moment. Meanwhile the Bank of Canada is cutting interest rates and the Government of Canada is working overtime to to increase access to credit. I think this is called biting the hand that feeds you. We should not think of the CIBCs TDs, etc as 'our' banks. Better to think of them as sharks; vicious predators who just happen to have marked Canadian waters as their home. To call the 'our' banks implies that they are working in our interests, or Canada's interests. Nothing could be farther from the truth. They work only in their own interests. They need to be kept on a very short leash and very heavily regulated. More regulated than they are at present.
  67. Telegram Sam from Canada writes: Canadians make Canada great, not the banks.
  68. A B from Canada writes: Thanks to Paul Martin.

    One now can see that Canadians CANNOT TRUST HAPLER and His ILK... Can you imagine this pathetic CON-BORG Chief, our 'El Presidente' 'king steve', with a majority.

    Thankfully that will never happen, and after the next election, steve will not even make it to Stornaway
  69. Blue Noser from Halifax, Canada writes: Wonder if Globe business columnist Reguly will be reading this article....during the meteroic rise of BofA, Citi and RBS he was the biggest mouth piece criticiizing canadaian banks, their managers being laggards....seems you can't beleive everthing you read in the globe......
  70. Jeff Michaels from Toronto, Canada writes: Hey Dave C don't forget the beer and back bacon!
  71. ex banker from St. John's, Canada writes: P W from Canada is dead on. Canadian banks are ultra conservative when it comes to domestic banking: they hardly ever lend to small businesses, are very cautious lenders even now. They have been successful domestically because they band together and form an oligarchy to screw Canadians over.

    But our banks are anything but conservative. In the 90s CIBC lost millions lending to OandY; Scotia lost millions dabbling in South America, CIBC took a multibillion dollar bath thanks to heavy fines a couple years ago (and the retiring CEO made off like Robin Hood) etc etc. They tend to get adventurous outside these borders are while they are prepared to take on a lot of risk there they take on zero risk here.
  72. Bob Van Derlay from Canada writes: I hope we can handle things properly and even profitably when the world comes to call to see how its done. There should be opportunities to build some great relationships. And well done Mr. Martin from a Conservative.
  73. John From The Hammer from Hamilton, Canada writes: Boy oh boy; there are a lot of 'haters' on here. Slag the banks for making profits the old fashioned way... Service charges??? C'mon, pull your collective head's out of your a$$e$. does anyone here work or provide a service for free? Do you have any idea what it costs to supply and install an ATM, let alone service it? I am a bank customer like most of you... and although I have a credit card for expenses I carry a zero balance and so not use it for anything except business. I can remember the good ol' days when banks where open 10 - 3 and the only way to to get your money was stand in line, sometimes almost an hour on a Friday before a long weekend... I pay a small monthly fee for unlimited electronic and ATM transactions (provided they are all conducted with the my bank). For me, that more than justifies the time I save, standing in line ups.... That's a convenience worth paying for. Sure I could keep all my money under my mattress like some anachronistic doofus from a bygone era. But if I need access to my money when I am out of town, what am I gonna do... write an IOU?... Think about it. Profit is not a dirty word.
  74. D Roberts from Canada writes: The shorts have a hold of their stock prices, according to some folks/traders on BNN and CNBC. Once they give up, the Canadian bank stocks should recover nicely.

    Great dividends that are likely safe for a couple of years. If the economy actually recovers one day, you could get a nice capital gain as well. It should be obvious when the shorts start covering and bailing on this sector. The shares will rise 3, 4, 5% some days, in my opinion.

    Even on the U.S. side. When the shorts push BAC to $1. I'll take a small chance on a flyer.
  75. Ric Hard from Toronto, Canada writes: I haven't read all the comments but it is worth repeating; the banks didn't get what they wanted. The clamour to create mega bank was a bad idea. Thank god we had Paul Martin as Finance Minister! Political merit never gets rewarded?
  76. kevin o'connor from Canada writes: If we are going to give credit to Paul Martin, which I think is just on two fronts: 1) getting our fiscal situation under control, turning deficits to surpluses (of course ordinary canadians did the sacrificing but political leadership is also necessary on unpopular but necessary measures such as this). 2) Bank regulation; than I think we should also give some to his boss for a decade Jean Chretien. They were dysfunctional in some ways, especially in party politics, but they were a fantastic tandem in leading our nation, especially on the economic front. They certainly seem a league above the Harper Flaherty combo. Then again so does Mulroney, and Trudeau, Pearson...
  77. D Roberts from Canada writes: Canadian banks are 'safer' than the U.S. because our Mortgage industry is not a government entity (with interference) as in the U.S. with the Fannies and the Freddies. Their (longstanding gov't policy) regulation of lending to the unworthy (poor) was a tragedy. The government(s) then had to de-regulate to help Fannie and Freddie pool and sell the crappy and worthless mortgages. A creation of all Presidents and administrations since Jimmy Carter.

    At least Canada had some free market banking principles in place. In the U.S., policy got in the way.

    Private banking 1. Government interference 0.
  78. g.k. starmatz from Canada writes: One of the main reasons for our bankers success is that they do not stop in at Tom Horton's on the way to work work.
    So no time is wasted,and thinking is clear and productive all day long. LOL
  79. The Money Ain't For Nothing from Canada writes: D Mores from Canada writes: For those of us holding bank stocks, this story is no consolation. The share prices still suck.

    suck, really? Try comparing the share price to other banks in the G8 countries and say a big thank you.
  80. Fractional Reserve Banking from Canada writes: jesus mother of mary, we work on Fractional Reserve Banking people, wake up. The same system that is used the world over in every major bank. THEY ARE ALL THE SAME.

    For every $1 they have, they have lent out $64. They have admitted to $1/$18 but it is more likely higher. Does that sound rational to any of you? Would you run your personal finances that way, or your companies? No, probably not.

    Canada has not been hit yet......YET! Why do you think they are constantly raising reserve capital? They are grabbing every dollar they can, because they know what's coming and are trying to somewhat prepare .

    But it's a losing battle, when you are leveraged to their extent, it would take many many years (if ever) to back all your outstanding loans.

    Smoke & Mirrors.

    It's like saying that the Cdn Home Depot stores will do fine because they are Cdn. People fail to realize that they are all the same, but apparently ours are better. ha

    It's called leverage, and the Cdn banks are full of it like every other bank.

    roflmao. You guys are too much.
  81. Voice of Reason from Ottawa, Canada writes: This however fails to discuss how CIBC worked to have and got a change in the bank act so it could go down south and compete with the big lending institutions loaning money. They also wanted to reduce the level of service here in Canada so that they could concentrate their efforts to the US. This explains why they are the biggest losers amount the Canadian banks with the most exposure to US mortgage collapse.
  82. economic slave from Toronto, Canada writes: Why is there no mention of the 70 billion dollars, of hard-earned tax money, the Canadian government gave to the banks in exchange for their high-risk debt papers? Would our banking system receive these accolades if the tax-payers of Canada had not bailed out the banks. Giving 70 billion dollars for 'funky' mortgages, etc. amounts to a bail-out. After receiving 70 billion dollars from the Canadian Taxpayer, the banks report huge profits. Isn't there something wrong with this scenario? Wouldn't every Canadian want this kind of deal? The government will exchange your debt for cash. To add insult to injury, the CEO's remuneration package in one year is more than what most Canadians will make in their lifetime. A Canadian making $50 000 is handing over money to the CEO of the Royal Bank whose income was over 10 million dollars last year. Most Canadian tax-payers are economic slaves to the Canadian rich. I thought slavery was abolished a long time ago. I was wrong.
  83. kevin o'connor from Canada writes: fractional reserve banking has been around for at least 3 centuries and to blame the current crisis on it is ludacris. capital ratios are 10:1
  84. The Money Ain't For Nothing from Toronto, Canada writes: economic slave from Toronto, Canada writes a lot of silly stuff.

    economic, there was no bailout..........if you don't understand the mortgage securitization process, please hide your obvious ignorance
  85. Soft Landing from Canada writes: Isn't this an old news dated back Sep 9, 2008?
    http://www.reuters.com/article/newsOne/idUSTRE4981X220081009
  86. garlick toast from Canada writes: I propose a CD registration system with a cut off date. That's the only way we'll know how much liability is floating around.
  87. Leafs 007 from Toronto, Canada writes: I search for intelligent commentary but, alas, there is very little to be found.

    If those of you who post on this site speak non-sensical ideas and defamining ideas, please do not post. It is a waste of everyone's time to read the vile and poisonous thoughts that eminates from your heart.
  88. Carl Sterritt from Canada writes: There are a few comments on this page about the banks receiving a bail out. It didn't happen. Mortgages are insured and there were more defaults than usual. The banks have always had insurance to prevent losses on those mortgages though.

    I thought that was common knowledge but knowledge seems to be lacking on this comment board.
  89. Northern Dancer from Outside of Toronto, Canada writes: CIBC always fancied itself as the Wall Street North bank. Good thing they never fully realized the dream.
  90. Salman Voltairski from Hinterland, Canada writes: Prime Minister Cretin was a slimeball but he did listen to Canadians when we collectively said NO to bank mergers. The ridiculous argument was 'We must grow to compete' and we didn't buy it.

    What did the opposition say in regards to the mergers?...I don't remember that part.

    Just think, had the banks been allowed to grow they might have achieved the 'too big to fail' status. Kudos for Canadians
  91. Glynn W from Canada writes: We should thank our lucky stars that we are laggards when it comes to following suit otherwise we would have been in the thick of the cirsis as well, not saying that we aren't affected but it could have been worse if we were 'head to head' in all things worldly. Our ambition to be in the security council is a good example...when the world couldn't give peanuts for it anymore Canada wants in!
  92. Erin Ballantyne from Canada writes: I don't know why everyone is so worried about our trading relationship with the US. It is important but not indispensable. They only buy a little over 10 % of our output. 85% of our output is used right here within our borders. Since we have our financial house in pretty good order, compared to every other nation, we should do reasonably well. Manufacturing is a continuing sore on our backside but then it has been suffering for a number of years now. The future is in high tech (as witness the booming economy in the Waterloo area). We need to invest in high tech manufacturing--especially robotics. WE also need to invest in energy solutions. We are presently a resource-based economy but that will change if we invest our profits in bettering the lives of our citizens--education--especially high tech feeding education, is the way to help us all get ready for the new industrial revolution that is coming. One thing that we do much better than the US is provide support for parenting. Our investment in our human capital will be more important than ever. Many more moms are staying home with their children for longer periods of time (and many are committed to working just part-time throughout their children's time at home). Money is just not as important as people--this is a Canadian value and I thank God that I live here and not in the US. I was born and raised in the US and spent the first 36 years of my life there. Canada is the kinder, gentler nation that I wish the US was. I have many relatives and friends in the US--they are suffering a great deal.
  93. CU JO from Vancouver, Canada writes: To Dave C from Canada wrote: Canada's national identity:

    Hockey
    Tim Horton's
    Our Banks'

    Wrong Sir! Everything on your list is owned by Americans except the Banks
  94. The Money Ain't For Nothing from Toronto, Canada writes: Erin Ballantyne from Canada writes: I don't know why everyone is so worried about our trading relationship with the US.>>>>>>>>>>>>>>>here's why, the US represents 40% of the world's total economy.
  95. CU JO from Vancouver, Canada writes: To: X Y from Halifax, Canada wrote: 'Lots of naysayers and an idiot. The usual fare here it seems.

    I for one say Bravo to the banks and our regulators. They have done a good job and we should be glad.

    Would you rather have our banks in the same state as the US, or Ireland, or Iceland (shudder)?

    Fact is, our banking and regulatory model will be exported as technology transfer for years to other jurisdictions, and this will be good business for us.

    So cheer up, we will get through this and if we can show some leadership it will be easier.

    Either lead or shutup and get out of the way'

    Excellent Excellent! Bravo!
  96. gary renchub from Canada writes: you reacher than you thank slogans total irresponcebility
    the where forth not to get on the global band wagon
    thank the former liberal goverment
  97. G E from Toronto, Canada writes: I see the usual bank bashers out in force. Banks are not lending? Overall credit lending from banks is up. What has changed in Canada is that a number of other credit providers have pulled out or back from lending in Canada. The banks cannot compensate for that.

    Second, if I understand some writers on here we should force the banks to make additional loans i.e. leverage themselves similar to what American banks did; presumably so they can go bankrupt?

    Third, should banks continue or increase lending to some sectors of the economy regardless of any underlying changes in the fundamentals.

    Fourth, for those using credit cards as a form of long term debt; stop doing it it is not fiscally prudent.

    The Canadian system is competitive when you compare credit spreads and fees being charged by similar banks in other countries.

    Finally, the government is buying 100% mortgages they had previously guaranteed; that is they are charging the banks a fee for doing so; sorry no freebies there.

    Are we immune from the effects of what is happening globally? Of course not! But imagine what things would look like if our financial system and public finances were in the same shape as the US.

  98. Jeremy F from Alberta, Canada writes: This is why deregulation is not always the answer. The higher they go, the harder they fall.
  99. Erin Ballantyne from Canada writes: The Money Aint From Toronto--So what if the US is 40% of the world economy? As I pointed out, they still only buy a little over 10% of our output. I would be a LOT more worried if I owned an export business in China. China doesn't have yet much domestic consumption---they are totally dependent on their exports to the US and other wealthy developed nations. We have excellent domestic consumption based on our sound finances. Yes, we will be pinched but not devastated. And once the world economy starts to heal, watch for our resource commodities to come roaring back. The future belongs to those who can see past the present difficulties to position themselves for the recovery. Once the economic storm passes (and it will) I would buy the stocks of those Canadian banks who have weathered the storm well. I would also buy the stocks of those industries who are looking strong. The market has been oversold--there are many industries who have battened down the hatches and are sitting on a pile of cash just waiting to rebound. One of the reasons why our economy has declined a bit is because people here have stopped spending out of panic over what they read in the media. The US has severe financial problems--we do not. We should just have a 'steady as she goes' attitude and prepare for the rest of the century. Cheer up people and be glad you live in Canada!
  100. Carl White from Canada writes: 'John From The Hammer from Hamilton, Canada writes: Boy oh boy; there are a lot of 'haters' on here. Slag the banks for making profits the old fashioned way... Service charges??? C'mon, pull your collective head's out of your a$$e$. does anyone here work or provide a service for free? Do you have any idea what it costs to supply and install an ATM, let alone service it? I am a bank customer like most of you... and although I have a credit card for expenses I carry a zero balance and so not use it for anything except business. I can remember the good ol' days when banks where open 10 - 3 and the only way to to get your money was stand in line, sometimes almost an hour on a Friday before a long weekend... I pay a small monthly fee for unlimited electronic and ATM transactions (provided they are all conducted with the my bank). For me, that more than justifies the time I save, standing in line ups.... That's a convenience worth paying for. Sure I could keep all my money under my mattress like some anachronistic doofus from a bygone era. But if I need access to my money when I am out of town, what am I gonna do... write an IOU?... Think about it. Profit is not a dirty word.' Does any other business profit three times from one service? First, with service fees. Secondly, by making a profit on the difference between the interest they pay you (miniscule) and the interest they make on such investments as T-bills. Thirdly, making a profit by lending out money based on these reserves and charging a much higher interest rate. Funny how credit unions (some of them are very large) can operate without charging service fees and without running up losses.
  101. claudia casper from Vancouver, Canada writes: Hear Hear for PW from Canada! The banks don't deserve most of this credit, our government, our legal system and our citizens do.
  102. teddy bear from United States writes:
    considering that canada economy is largely based on exports to the united states... why would anyone feel smug about canadian banks? especially if you are worried about losing your job, or about to ...
  103. The Money Ain't For Nothing from Canada writes: Erin Ballantyne from Canada writes: The Money Aint From Toronto--So what if the US is 40% of the world economy? So what, canada is a resource export based economy. Some 85% of our exports are with the US - think wood and minerals, enegery and autos - tar sands, how canada you think we could ignore this is unclear.
  104. The Money Ain't For Nothing from Toronto, Canada writes: claudia casper from Vancouver, Canada writes: Hear Hear for PW from Canada! The banks don't deserve most of this credit, our government, our legal system and our citizens do.

    Legal system?
  105. The Money Ain't For Nothing from Toronto, Canada writes: Carl White from Canada writes Funny how credit unions (some of them are very large) can operate without charging service fees and without running up losses.

    Largely because they do not have the disclosure requiements - they are not publicly traded companies. You may not know
  106. Curly Maple from havenotsville, Canada writes:
    The Money Ain't For Nothing from Toronto, Canada: These are 'economist' Derek Dolt, er, Holt's long winded explanation of the events of the 'asset swap' back in the fall: 'taking mortgage-backed securities out of the banking system.....that they cannot move or sell.....giving cash instead......banks will turn around....and use that to generate loan growth.'
    How is that not a bail out?
    hoka hey
  107. jim corrigan from Toronto, writes: Oh ya, I feel great! Hold on, let me adjust my rose coloured glasses!

    1/2 million families in Ontario and Quebec about to lose a breadwinner due to the failure of the US auto industry. This doesn't include the debacle in Ontario's steel mills that unfolded this week. US Steel just shut down the old Stelco plant and I'm sure A-Mittel will be doing the same with Dofasco soon enough.

    As for the banks, the Bank of Canada swapped $30 BILLION of sour mortgages from the Cdn banks over to CMHC. Guess who's going to be paying for this junk over the next decade - you and me. And the banks were kind enough to add another 1% to their prime lending rate after that. Sounds really fair doesn't it? As long as they keep pulling tricks like that, and no one says a thing, they'll be just fine I guess.

    Yes, if we are truly immune, some of us are blind.

    Who's idea was it to write this article? Is that you Dalton?

    This article is evidence too many of us are still living in total denial.
  108. Curly Maple from havenotsville, Canada writes: The Money Ain't For Nothing from Toronto, Canada:

    Part deaux:
    This is another poster's response to the question of a bail out:
    'And why wouldn't you call it a bail-out Dave?

    The banks got liquidity and the public got assets of unknown value and mostly priced at housing-bubble prices. The test of whether the deal was simply as asset swap would be whether all those mortgages now owned by CMHC could be put on the private market and sold for what CMHC paid for them. In addition, the mortgages were purchased through government deficit financing (unless our MOH's statement about our 2008 FY surplus is believed) and serve to additionally increase the money supply.

    What the tax payer got is stuck with: The administrative costs of administering a huge portfolio; The sacrificed opportunity costs of 70 billion of so that can't be spent on other things without increasing the money supply; Equity assets that have poor yields and unrealistic face values; and starting down the road where our currency turns into a derivative-backed asset. And there are many etc's.

    It doesn't sound like much of a deal for the tax-payer to me, but then maybe I've got a really incredible deal on commodity-backed assets that I might let you buy into. Oh well, not all is lost, we probably could stabilize our currency's value by selling off public assets such as hydro grids, perhaps Jasper National Park etc.'
    hoka hey
  109. Curly Maple from havenotsville, Canada writes: jim corrigan from Toronto: Excellent post--too many posters are just flat out in Disneyland on this article. Wake up people. Reminds me of what Goya once said: 'The sleep of reason breeds monsters'. Or sheep. Ha!
    hoka hey
  110. Simon Wu from Canada writes: 'The Money Ain't For Nothing from Toronto, Canada writes: here's why, the US represents 40% of the world's total economy.'
    --------------------------------------------->

    Are you still in the 'american dream' era? in 21st century, the american GDP as to world is just about 20%, and declining.
  111. Marv M from Canada writes: Our banks are sound, so what? Our banks are not buying goods and commodities from Canadian companies so how will having sound banks fuel our economy? Our top 5 largest trading partners have VERY serious economic issues that will take years to resolve if they ever can be resolved yet we somehow think that having strong banks will equate to a strong economy?

    Some of you people really need to learn about how economies work and that if your exports nosedive, your economy nosedives. Strong banks can do absolutely nothing to save an economy.
  112. The Money Ain't For Nothing from Canada writes: Curly Maple from havenotsville, Canada writes:
    The Money Ain't For Nothing from Toronto, Canada: These are 'economist' Derek Dolt, er, Holt's long winded explanation of the events of the 'asset swap' back in the fall: 'taking mortgage-backed securities out of the banking system.....that they cannot move or sell.....giving cash instead......banks will turn around....and use that to generate loan growth.'
    How is that not a bail out?
    hoka hey

    Think liquidity in capital markets and not the quality of the mortgaes as was implied. Liquidity issues still exist. If banks can not securitize existing mortgages because of current liquidity issues they won't have funds for new mortgages and housing market goes further south or disappears and whole economy suffers. Not a bailout. You should refer to CMHC and understand their mandate re housing for canadians, etc. and lay off bailouts.........hoka
  113. john dancy from Canada writes: jim corrigan, GM has been on the way out for 30 years. The unions did not want to help out and the management thought they were better than everyone else. They dont make what we need they make crap and try to tell us we need it. Goodbye GM, now the real Canadian car company's , Honda , Toyota , Suzuki , Volkswagen can thrive....
    Mortgages in Canada are covered by the government anyway, taking them off the books of the banks does not cost anything and in fact the government is making money on them cause they got the money cheaper to buy them.
    What makes the banks so good here is there have been no failures of the banks. In the USA some people went to the bank to get money and they were closed. wont happen here.
  114. john dancy from Canada writes: Carl White , and they could buy bank stocks and share the profits. I have made a killing on bank stocks these last 20 years.
  115. Vic Vegas from Vancouver, Canada writes: Canada's economy is leveraged to the US economy. It doesn't matter how many life jackets we own, we're in the water.
  116. john dancy from Canada writes: Vic Vegas, yes but those of us who listened to granny, who went thru the last depression, and lived within our means and saved for a rainy day can rest easy our money is safe in the bank!!!
    I am ready for the greatest buying opportunity in modern times. You all laughed at me for buying a small home and putting money in bank stocks, my turn.............
  117. Simon Wu from Canada writes: 'Curly Maple from havenotsville, Canada writes:
    How is that not a bail out?
    .....................'

    The asset swap is to convert the fixed assets into more floating assets for more liquidity. The fixed asserts have less liquidity but still have their values. eg: you mortage your house for some cash, the bank is not 'bailing' you out.
  118. Curly Maple from havenotsville, Canada writes: The Money Ain't For Nothing from Canada writes
    'If banks can not securitize existing mortgages because of current liquidity issues [i.e., they've got toxic assets and nobody will lend to them so we have to take them off our balance sheet by getting cash from Ottawa] they won't have funds for new mortgages and housing market goes further south or disappears and whole economy suffers. Not a bailout.'

    You've just repeated what Holt has said!
    Bottom line here: the banks got cash for iffy/toxic/ mortgages 'that they cannot move or sell'. Try that bone on another dog.
    Check out the following article:
    http://www.thespec.com/News/BreakingNews/article/465308
    Note the headline: 'Ottawa adds $50b to bank bailout, in talks with automakers'
    Nice try--you have yourself a rainbow weekend, amigo!

    hoka hey
  119. D K from Canada writes: 'Jason T from Canada writes: The fact that our banks are in decent shape is almost totally irrelevant. If the US slides into a depression with Europe and Asia closely on it's heels it doesn't matter one bit what shape our banks are in. If nobody is buying our exports or raw materials we are also headed for a depression. '

    Too bad we don't use are own raw materials to manufacture something useful
  120. Centrist 1867 from Canada writes: Our banking system is head and shoulders above the US despite our recent efforts to remove regulatory constraints (ex: 2006 move to allow zero down, 40 year mortgages to buy bubble priced housing).

    Every spoke in the system is pushing to contain mortgages to an orderly walkdown in price. Every breath from government politicians, economists and the banks we hear 'Canada's housing is nothing like in the US.'

    With job losses just beginning in Canada, interest rates at unrealistically low levels (which can only go up), non-mortgage consumer debt at record levels versus L-T stagnated wages and an economy that is reliant on consumer spending, there is still plenty of room to worry about Canadian banks. So far we are holding.

    Picture 10% unemployment or higher, inflation demanded increased interest rates and I could see housing prices declining more rapidly and people walking away from negative equity here as well. This would put a large hole in the banks' mortgage books.

    Anyway, IMO, if wages are not going to increase (and they're not) then we need cheaper asset valuations.
  121. The Money Ain't For Nothing from Toronto, Canada writes: Simon Wu from Canada writes: 'The Money Ain't For Nothing from Toronto, Canada writes: here's why, the US represents 40% of the world's total economy.'
    --------------------------------------------->

    Are you still in the 'american dream' era? in 21st century, the american GDP as to world is just about 20%, and declining.

    Most recent GDP figures puts US at approximately 30 plus % still by far the largest economy on the planet and we have a competive advantage in that we share the boarder.

    Yes Sammy Wong, I may be in the 'american dream era'..............all GDPs are shrinking.............and I must be in good company in my dream in that it was only 2-3 weeks ago that at a global finance meeting in Switzerland the main topic discussed was the threat of US trade barriers and all nations were very concerned about having trade with the US negatively impacted including in the 21 st century.
  122. Curly Maple from havenotsville, Canada writes: Simon Wu:

    'The banks got liquidity and the public got assets of unknown value and mostly priced at housing-bubble prices. The test of whether the deal was simply as asset swap would be whether all those mortgages now owned by CMHC could be put on the private market and sold for what CMHC paid for them. In addition, the mortgages were purchased through government deficit financing (unless our MOH's statement about our 2008 FY surplus is believed) and serve to additionally increase the money supply.'

    Simon: Do you really* think the government will sell and get their money back? *Nobody* (not even Mel Lastman knows what the true value of these toxic assets are, hence the credit freeze). The banks knew they couldn't move this garbage, so Ottawa bailed them out. Its not a complicated issue. The notion of 'asset swap' is a deliberate attempt to obfuscate and minimize citizens anger at being left holding the bag. I may not know a lot about the financial world, but I am not dumb enough to not see through all the rhetoric of socialism for the banks.
    The banks got cash for mortgages they *couldn't move or sell
    --that's what it boils down to.
    You have yourself a rainbow weekend too, amigo.
    hoka hey
  123. Erin Ballantyne from Canada writes: Dear The Money Aint for Nothing--The biggest hit to our economy will be Ontario's dependence on selling autos south of the border but we do have substantial Toyota and Honda plants here and they will likely weather this downturn well. Unfortunately, GM, Chrysler and Ford (although Ford is the most stable of the three) will be hurt badly or eliminated.

    Our oil exports to the US are not particularly discretionary spending for Americans. And even if they don't buy it, we'll sell it to a world that is hungry for energy. Americans will cut back but we will still be their number one supplier of oil. When the world economy recovers, our mineral resources will be in demand again--there are some minerals that we have that are scarce in the world. Lumber and minerals will come back when the world economy improves. The lumber industry is busy trying to sell the Chinese our lumber, noting that lumber-built structures (as opposed to the many concrete structures they have built) are much more earthquake resistant.

    I wouldn't call us particularly an export-dependent economy since only about 15% of our economy is export-directed (and much of that is in oil which is resistant to downturns). Besides, the key to economic health are trade balance numbers, and till recently, we have had a significant surplus in trade. We import a significant amount of foodstuffs from the US but that will be significantly reduced if the prices go to high. Watch the sales of vegetable seeds and fruit trees skyrocket soon along with canning supplies here. Canadians are a hardy lot still--we are not so very many generations off the farm that we cannot figure how to use our land effectively. Canada is a land of opportunity--it is the number one destination for emigres in the world--could be that others value something here that long-time Canadians are complacent about.
  124. The Money Ain't For Nothing from Toronto, Canada writes: Curly Maple from havenotsville, Canada writes>>>>>>>.

    One last attempt...............the capital markets liquidity situation is 'global' and in no way reflects on the quality of the mortgages you refer to. The risk associated with this mortgages was already with gov't/cmhc before the transaction - they are NHA insured by the fed for which they collected a seperate fee.

    Quite frankly, at this time there is no repeat no mortgage securitization market out there. By the way this liquidity crisis is omapcting more than the securitization market...............everybody wants to hold on to cash. Cash is king but it does not mean assets are toxic, Holt never said they were toxic.
  125. Kevin S from Canada writes: Lets hold off the applause until we see how Canada's wave of forclosures and mortgage defaults affects our banks' bottom line. Remember real estate prices just started going down in Canada. Up until 2007 the US banks looked like pillars of the financial system. Two years of foreclosures and falling real estate prices and things look quite different.
  126. The Money Ain't For Nothing from Toronto, Canada writes: Erin Ballantyne from Canada writes wouldn't call us particularly an export-dependent economy since only about 15% of our economy is export-directed (and much of that is in oil which is resistant to downturns). Besides, the key to economic health are trade balance numbers, and till recently, we have had a significant surplus in trade.

    If we are not a 'particulary an export-dependent economy' where did the 'we have had a significant surplus in trade' come from? Don't they equate?
  127. alex just a canadian from Canada writes: I say good job by our banks, the Superintendent, the gov't lib or con would not have let them merge, and many will disagree I am confident of the mangers they have had for decades. We are one of the few countries that actually has coast to coast atms, allowing Canadians to access their funds anywhere and anytime no matter where in Canada. Yes they charge service fees but wise consumers can avoid or at least minimize those cost. Now if I could only understand those who complained about the 'huge' profits they were making a few years ago, and today are the same ones complaining they are not making enough and complain about managements pay. Look at the assets these people have under them, plus the amount of people employed compare that to other companies who are losing money or need bailouts. They have earned their keep. Last point, no one ever mentions or rarely speak or write of the positives. Pay huge taxes to government that help pay for our services, the more profitable they are the better for the CPP and other pension funds, those who hold mutual funds or invest directly with stocks. We can't forget the charities they help, olympic support to both athletes and the games (I know they want the publicity) and other events, both in sports and art/culture and even community projects. We can be proud of our banks no matter what our opinions are for who leads them. BUT THE REALITY IS STRONG CANADIAN BANKS DO MORE THAN WE GIVE THEM CREDIT FOR. The smaller not in the news are just as important.
  128. Centrist 1867 from Canada writes: Actually about 40% of Canadian employment is linked to international trade. Canada trades about $2 billion a day with the US (about 85% of our exports go to the US). Versus a GDP of $1.3 trillion. Trade is huge for Canada. Too bad our largest exports were automotive parts.
  129. Kat Wilson from Canada writes: The only reason our banks aren't crashing is because Liberal and former Progressive Conservative governments - preceding Harper - maintained strict regulation. When Harpo came in (2006), he and Flaherty loosened up the rules to permit banks to get on the housing profit bandwagon citing AIG as an example. Flaherty quietly closed the door on 40 year mortgages and subprime in August of 2008 when things started going south in the US market. We can thank our lucky stars these buffoons weren't in power in 2000 because if they had been, our banks could easily be in deep trouble.
  130. Marv M from Canada writes: Erin Ballantyne from Canada writes: ........Our oil exports to the US are not particularly discretionary spending for Americans. And even if they don't buy it, we'll sell it to a world that is hungry for energy. Americans will cut back but we will still be their number one supplier of oil.'

    ================================================

    At 45 dollars per barrel, we are not making much on our Oil exports. Exploration costs have soared making anything under 40 dollars per barrel barely break even prices. In the Oil sands, new producers require over 80 dollars a barrel to just break even so this is why Fort Mcmurray and the Oil sands are laying off thousands and practically shutting down at these prices. OPEC has cut production half a dozen times over the last 6 months so this clearly shows that we have oversupply meaning there is no reason for Oil prices to go much higher for a long time. Especially considering people are predicting the US and world recession/depression to possibly last years.
  131. Bill G from Calgary, Canada writes: Mar M, not so. Expensive conventional oil fields might have opcosts of ~$10.00/bbl. In the Oil Sands, New Insitu plants can probably break even at ~$40.00/bbl. Old Oils Sand mining plants probably need a tad more. New Oil Sands mining plants need pretty high prices to break even. By the way, Warren Buffet is predicting prices of $75USD/bbl by the fall.
  132. rascal rascallion from Canada writes: Thanks Erin Ballantyne for your reasonable, positive comments. People who have not experienced what life and attitudes are like elsewhere don't have the same appreciation for what we have here. Our banks are indeed stronger than most because they are run under a much stricter regulation scheme, not because our bankers are more clever, or less adventurous. The banking regulations in place have protected us from ourselves. I used to envy my American friends their ability to write off mortgage interest, but this one rule has slanted the playing field mightily. It was not an advantage to pay off mortgage debt, and so nobody did. Canadians always had to start with a higher downpayment and cannot walk away from a mortgage without all other assets at risk. I do think we will come out of this in pretty good shape, as commodities will be in demand, but this is a credit debacle that has been 30 years in the making....it will take time....real things will be worth a lot more
  133. The Lakeman from Nova Scotia, Canada writes: Like they say everything works best in moderation. Right now our banks are making excessive profits. Their high interest charges and fees are hindering economic growth. Who in Gods name is going to pay 9% to 11% on a car loan with things the way they are in the economy. I would like to see the Bank of Canada start opening commerical branches that will loan businesses and consumers alike loans at lower interest rates and fees thereby forcing rates of interest offered by the Big Five down to more realistic levels. At present the Big Five in banks can borrow their money from the Bank of Canada at .5% and loan it out to Canadians at excessive rates. If this could be fixed we would come out of the recession much faster then we will under present circunstances. So in my opinion, even though our banking system is strong it prevents Canada from obtaining much higher growth rates over time.
  134. thinkjack :) from Toronto, Canada writes: I don`t understand why people complaint so much about our banks. I bank with both TD and BMO and they provide much better product/services than other banks I used in other countries. and They also put back alot on our community.

    Even BMO alone, donated 55.9 Million in 2008!
    www.bmo.com/community
  135. Canada 1 from Montreal, Canada writes: teddy bear from United States writes:
    considering that canada economy is largely based on exports to the united states... why would anyone feel smug about canadian banks?

    Well, I am not certain smug is the correct terminology,
    but lets try it on for size.

    We are 'smug' since our banks are profitable and pay out
    one hell of a dividend, where as the large US banks are
    insolvent (bankrupt) surviving on life support courtesy
    of the US tax payer.

    Lets be 'smug' for a while............

    >>>>>>>>>>>>>>
  136. Marp Marp from Ontario, Canada writes: Canadian banks although not immune to the crisis are in a good position to weather the storm as they have been conservatively run and have most of the home market to themselves. Unlike the US where you have 1000's of banks as just about anyone can open one, in Canada we have the big 5 and a hand full of smaller players. This has been good for them as well as Canadians. Most Canadians by virtue of there RRSP's and pension plans are exposed big time to Canadian banks. Many Canadians may not realize it but quickly will should something happen to one of the big banks or dividends they pay. If something were to happen with one of our big banks, the blame would land squarely on the government in power and bank CEO's - both would be history in short order. It would be just what the liberals would be looking for to trigger the next election and shareholder and institutional revolt would deal with the CEO's and other brass. The Canadian banks have been given a protected market and now those relying on there dividends for financial well being expect them to deliver.
  137. Marp Marp from Ontario, Canada writes: Lakeman - you have to pay 9% plus for a car loan or lease as this is a lousy business for lenders to be in. Why do you think all the car companies and finance companies left it! There are other alternatives out there like credit unions and the likes. Problem is that they also know its a lousy business and so charge the same.
  138. Linda Dial from Canada writes: Smug or sour grapes? Not talking about trade numbers here, teddy, talking about the solvency of banks, banking regulations. Trade numbers will certainly affect the contents of Canadian banks but not their structure.
  139. Yvonne Wackernagel from Woodville, Canada writes: The trouble is that Government's representatives keep repeating that Our Banks are in great shape; we are the best of the G8 countries, etc. etc. Just a lot of CLOUDY RHETORIC. The proof is in the pudding. They have (had), now the Govt. has covered their a---)a lot of toxic assets which they could not get rid of. These assets are still there, only mortgaged to us (the Govt. -the Canadian taxpayers) for liquidity to the Banks. Now the banks are hamstrung to some extent, having to be careful how they lend, if they lend, at what rates (like 10% for car loans just announced), etc. etc. SO STOP TELLING CANADIANS HOW WONDERFUL OUR BANKS ARE. Let them prove themselves to us.
    First -lend at reasonable rates.
    And more importantly, PAY REASONABLE RATES ON OUR DEPOSITS INCLUDING GIC, ETC. People need income on their investments before they can spend. Spending is what the Government is recommending. Is this not simple enough? Who is running this show?
  140. S Lucht from Canada writes: Dividend yields on Cdn banks are high now, and like many others, I sense a cut in the offing as the global economy sinks further over the coming months. However, if after the cut the yield still outpaces inflation, I'm fine with that. A few years from now, the actual dividend will be on its way up again.
  141. Richard Keefer from Omemee, Canada writes: The main difference between banks and widget producers on the revenue side is that banks charge for services and charge a spread.
    On the service side, our banks are in as much trouble when the volume of transactions drops, as widget producers when no one is buying.

    Just as the widget producer has to worry about bad receivables, our banks have a lot to worry about in souring loans. Could never happen to them? Just watch as the unemployment numbers and business failures climb.

    Then there are the spreads that came mostly from lending out depositors' money.. With interest rates at a vanishing-point, there are fewer reasons for depositors to put their money at risk. Just as the first few wisps of smoke in a theatre might tell a few clever people to politely excuse themselves and head for the door, the move to put $500 billion in the FDIC should tell people that the U.S. is worried about bank runs. The unfortunate part for depositors is that only a few will get their cash out in a run. As demonstrated in Eastern Europe, the rest will be trapped with extended bank holidays that will prevent their accessing even payroll deposits.

    This is brave talk from our banks. People should give it as much credence as the pep talks they got from investment advisors when the markets were twice what they are today.
  142. Rum Bunny from Canada writes: It seems like a rerun of Bank of Japan policy at the beginning of their previous recession. Drive down interest rates to nothing to try to force savers to spend savings and at the same time refuse to lend money to anyone outside 'the club', especially those areas of commerce that can provide advances in productivity and employment. I once owned stock in an American company whose CEO fell for the 'sucker special' of a huge wall street outfit. Act one was when the company tanked after the pump and the chump bailed. Act two was a panicked search for a new CEO savior who had the clout to be a gatekeeper to the bankers. Act three consisted of various new very favourable financings to unknown parties by the new savior plus huge salaries and options for him and his stooges and zip in the way of dividends. Deja vue all over again as a Brooklyn Dodger once lamented.
  143. Westcoastser from Delta from Canada writes: Eric Ballantyne...Well put, my sentiments exactly. When the world starts climbing out of recession, the loonie will climb well beyond the US$. Canada is wonderfully positioned for the post recessionary period as our banking system is intact and more importantly the government does not have an equity position in them. We are indeed the envy of the world.
  144. Erin Ballantyne from Canada writes: The Money Aint for Nothing--'If we are not a 'particulary an export-dependent economy' where did the 'we have had a significant surplus in trade' come from? Don't they equate?'

    No, they do not equate. We have enjoyed a long period of trade surpluses--and that is great. But, we can well pull in our horns for a while and not be devastated. Our international trade is certainly not going to go to 0. Autos and auto parts are a problem, as I noted before, but industries like Bombardier will benefit from the US stimulus package (high speed bullet trains are planned) and some of the surplus manufacturing capacity for autos (and many of our plants are newer than those in the States) will likely get turned to making other things. We already have a presence in the robotics field and that is expected to grow as the recent advantage of low-wage nations (like China) wanes, as high energy prices offset the wage savings. If you want your kids to get jobs, tell them that robotized factories here will be the next big thing after alternative energy projects. We will need workers to keep the robots humming. The productivity gains will keep on coming and that will make us wealthier.

    We could have more leisure in the future but the profits must be socialized to realize this. Canada has been planning for this since the days of Trudeau--we are much further ahead than our American cousins.

    North America will be investing huge amounts of money in alternative energy and green solutions. We had a thriving environmental science field a decade or so ago until it became unpopular. The Hamilton/Burlington area, home to the Centre for Inland Waters was a great research facility--we lost a lot when the government cut funding but the environmental field is reviving.

    The Waterloo area is a poster child for the future of N. American employment and that influence will be felt. Toronto will still be a significant engine of economic diversity. Cheer up!
  145. Town Idiot from Canada writes: Toward the end of 2007 (I can't remember if it was August or September), Bloomberg's Markets magazine ran a featured story on the success of Lehman Brothers, with an interview with Dick Fuld. The article exclaimed that Lehman Brothers was the envy of Wall Street amid the US subprime crisis after Bear Stearns and BNP Paribas lost five hedge funds. While Bear Stearns was heavily exposed to the US mortgage market in every line of business from origination to servicing, Lehman Brothers had an extremely strong balance sheet of commercial real-estates and high quality asset backed securities. The article went on to explain that Lehman was well positioned to expand and grow while its competitors will be preoccupied to lick their wounds for quite a few months.
  146. M Mirza from Toronto, Canada writes: 'Formerly derided as meek and mild...'??? Cdn banks are still the same, which is a good thing! by not doing 'anything' (exciting or fancy-schmanzy) they have atleast delayed or 'fingers-crossed' avoided the train wreck (and the chain reaction)!!!

    I would change my opinion (to 'Formerly...') if Cdn banks go 'intelligently' after the 'marked to market' assets of the US banks!!!
  147. Erin Ballantyne from Canada writes: Town Idiot from Canada--Lehman Brothers, like most of Wall Street became a victim of its own greed. There are also very strong indications that there was a LOT of fraud and other misdeeds operating there. When the Congress was persuaded to drop all regulations, it was like getting rid of the shepherds and removing a fence around a sheepfold. It was inevitable that the wolves would move in for the kill. I know people in banking here--they are shocked at some of the shenanigans south of the border. You simply cannot compare Lehman Bros. to any of our banks--they are very different, thank God.
  148. P O from Canada writes: !!

    HARPER WAS RIGHT

    Money can't buy you happiness, but it sure can build Babylon.
  149. Rollo 8>) from Belgium writes:

    I don't have time to read all the posts, on the other hand, I generally write original stuff.

    The credit for prudence in not deregulating the banks rests with Jean Chretien!

    Money can't buy happiness, but it's close enough for me.

    Other thing with the meltdown, the humour is getting better.

    From today's print editon of the Internantional Herald Tribune, a cartoon wondering if the recession will be U shaped, V shaped, or J shaped --J being represented by a toilet bowl.
  150. gary renchub from Canada writes: typical conservative polcy do nothing look for better weather
  151. tim west from Guys u r missing the point, Canada writes: This is hardly too much gloating. Of course if US and others go down the tube so will the cdn economy, but the point is: SO FAR THE BANKS HAVE HELPED THE SITUATION, AND HAVE NOT BEEN A FINANCIAL DRAIN ON THE COUNTRY.
  152. economic slave from Toronto, Canada writes: Hello Money aint for nothing..Toronto. Please explain the mortgage scrutinization process. I'll be the first to admit I've never heard of this term.
  153. Stephano Daliwal from Canada writes: The reasons are obvious. Canadian universities train/ produce the best financial managers in the world -- especially Rothmans at U ot T and Schulich School of Business at York University.
  154. Al Lang from Grande Prairie, Canada writes: Don't give the Canadian banks all the credit here. It was not that long ago when the Canadian banks were talking of merging to form mega institutions that could compete with the worlds largest banks on a global scale. I listened to many pundits cry fowl when regulators declined the move. To the end, You have to credit the good old Canadian pragmatic system that puts the social value ahead of free-wheeling capitalism. I never saw the wisdom and I too criticized the decision.
  155. Curly Maple from havenotsville, Canada writes:
    The Money Ain't For Nothing from Toronto:

    One last attempt...............the capital markets liquidity situation is 'global' and in no way reflects on the quality of the mortgages you refer to. The risk associated with this mortgages was already with gov't/cmhc before the transaction - they are NHA insured by the fed for which they collected a seperate fee.
    >>Yet another denial: you haven't told me how they are not* a bailout. You refer me to some CMHC thingy. Not buying that red herring. The issue is not rocket science. The banks got liquidity for 'mortgage backed securities that the banks could not move nor sell'. The bad mortgages were lumped together and sold globally, hence the global crisis. These toxic assets have infected the whole system. If what you say is true, then the situation wouldn't be global.

    'Quite frankly, at this time there is no repeat no mortgage securitization market out there. Cash is king but it does not mean assets are toxic, Holt never said they were toxic.'
    Dolt *did* say they were toxic: 'mortgage backed securities that the banks can't move nor sell'. Its clearly implied. He was fudging the answer--some chief economist. The banks got hoodwinked--who will admit to that?!
    Moreover, the test of whether it was an 'asset swap' is whether or not they get the asset sold at market bubble prices. It is quite naive to think that, and it also begs the question: then why *would
    the banks take them off their books if they know they can get full price for them? I think the answer will start with 'because they are toxic assets'
    I've raised some significant questions regarding your interpretation of events that cannot be easily answered, and have underscored some questionable logic on your part too. I am not swayed by your claims. The argument that its a bailout has withstood your critical scrutiny.
    hoka hey
  156. Erin Ballantyne from Canada writes: Al Lang: 'Don't give the Canadian banks all the credit here. It was not that long ago when the Canadian banks were talking of merging to form mega institutions that could compete with the worlds largest banks on a global scale. I listened to many pundits cry fowl when regulators declined the move. To the end, You have to credit the good old Canadian pragmatic system that puts the social value ahead of free-wheeling capitalism.'
    -------------------------------------------------------------------------------------------
    I agree, Al. The unfortunate American taxpayer is confronted by the specter of 'too big to fail' banks. The big banks were, of course, counting on this as this is not the first time they have played fast and loose with their depositor's money. Remember the 'Third World Debt Crisis'? Back in the 1970s, the same culprits, J.P. Morgan Chase, Bank of America, Citi, Wells Fargo, Hanover Trust, and others, actually pushed loans on poor nations. One former finance minister of a developing nation said that every time he went to some international meeting, he was hounded by reps from the big Wall Street outfits to take out loans (at high rates of interest, of course). By the mid-1980s, Citi was making over half of their profits from Third World loans. When the inevitable happened, and the interest payments alone were more than these poor nations could pay, the 'Third World Debt Crisis' became the big news of the mid-to-late 1980s. The big American players appealed to Congress and the White House for a bail-out and got it. This time around, the Wall Street banksters thought they'd try it with their very own poor people and raid the U.S. Treasury once again.
  157. economic slave from Toronto, Canada writes: Money aint for nothing...Toronto. Here's the story on subprime mortgages in Canada. It sure doesn't look like the mortgage scrutinization process was followed. This is outlined in a Dec. 12, 2008 Globe article entitled 'How High Risk Mortgages Crept North'. The Conservatives in 2006 announced that the government was opening up the market to private imsurers. These new rules allowed AIG to set up shop in Canada and consequently pressure was put on the Canadian banks to fund these high risk mortgages. High risk mortgage proliferated in 2007 and early 2008. 56 billion dollars of risky 40 year mortgages were approved. 10 billion worth of mortgages were approved with no money down. Were these high risk mortgages insured by CMHC.? The answer is probably yes. However, where does the CMHC gets its money?
    Correct me if I am wrong, the CMHC gets its money from the Canadian Taxpayer. When the Conservative government realized what they had done, they moved to ban these high risk mortgages in the summer of 2008. However, billions of high risk mortgages had already been given out. It is these mortgages which the Conservative government has bought and wants to keep quiet.
    Perhaps, Money aint for nothing...Toronto, you'd like to comment upon this.
  158. Curly Maple from havenotsville, Canada writes:
    Erin Ballantyne from Canada writes: 'Al Lang: 'Don't give the Canadian banks all the credit here. It was not that long ago when the Canadian banks were talking of merging to form mega institutions that could compete with the worlds largest banks on a global scale.'
    ================================================
    So true. And I do recall reading a report in the G&M several years ago that said the real reason the banks wanted to merge was to shed their workforce. I can't help but think of how many trees were killed to print this shameless column of banking propaganda.
    hoka hey
  159. Andre Carrel from Terrace, Canada writes: We have all the resources an industrialized economy needs, we have the best banks in the world, and we have been running balanced budgets.
    Why then has our dollar been dropping in value against major currencies?
  160. Nick Be from toronto, Canada writes: On the flip side the canadian banks will be left out of the potential profits when the recovery takes hold. Then, they will look conservative and unattractive investiments and won't be such brilliant stars.
  161. CallofDuty . from Canada writes: What does 1 Trillion look like?

    http://www.pagetutor.com/trillion/index.html
  162. Erin Ballantyne from Canada writes: Andre Carrel said: 'Why then has our dollar been dropping in value against major currencies?'

    The US dollar has been particularly strong because it is perceived as being, rightly or wrongly, a 'safe haven'. In addition, Americans are having to pull back from investments abroad. The Canadian dollar is perceived as being a resource-tied currency and it is also a favorite for currency speculators for a variety of reasons. I see that the financial advisers are starting to promote the Canadian dollar.
  163. Systemic Risk from Canada writes: Andre Carrel - if it weren't for our banks and (until now) balanced budgets, the dollar would be at about 40 US cents - we should count our blessings!
  164. Erin Ballantyne from Canada writes: One of the things you folks need to be aware of is that the VIX has (a measure of market volatility) been relatively stable since last fall. But the markets are sliding anyway. What this means is that there are a LOT of speculators making boodles and boodles of money off of short sales and they are relying on the media to keep trumpeting the bad news so as to make their pickings even easier. A lot of this has been a media event orchestrated to make a few people a huge amount of money. CNBC and especially Jim Cramer are totally wh*ring themselves out to scare the sheeple into being obediently sheared.
  165. Andre Carrel from Terrace, Canada writes: Thanks Erin Ballantyne and Systemic Risk. I can see the US dollar, but the bloody Swiss Franc is up in the neighbourhood of C$1.10! How do I explain this in view of the Credit Suisse losses and the UBS losses and troubles, and added to that the threat by the US, Germany, and France to blacklist the country because of the bank secret?
  166. J. Michael from Canada writes: garlick toast from Canada writes: 'It's a little early to gloat.'

    I think you have it right. How does the old saying go?

    'Pride comes just before a fall!'
  167. Stude Ham from Canada writes:
    if these canadian banks are so good then why did ever need the 85B$ in taxpasyers gifts from the harper/flapprty pork barrel?

    and if these banks are oh so good... then why did they need the ever decreasing boc lending rate while passing none of it to anyone else?

    and if these banks are so good then why are they now incapable of lending money to their clients?

    this article is propaganda pap... such as cnada is recession proof.

    stuff your money in socks under your mattress.
  168. J. Michael from Canada writes: The idea of a truly free market is it allows one to be free to win or lose. The problem I see is government is trying their best to stop people from losing. I think this is why people want regulation, or why it is seen as necessary. Lets protect the banks from themselves!

    If the banks in the USA had been operating in a proper free market there is no way they would have leant funds to such high risk individuals; however, since the government was pushing the high risk lending and the banks knew that the government would come to their rescue, then why not take unreasonable risk?
  169. Erin Ballantyne from Canada writes: Andre Carrel wrote: 'I can see the US dollar, but the bloody Swiss Franc is up in the neighbourhood of C$1.10! How do I explain this in view of the Credit Suisse losses and the UBS losses and troubles, and added to that the threat by the US, Germany, and France to blacklist the country because of the bank secret?'

    The Swiss franc is also seen, rightly or wrongly as a 'safe haven' currency. Some of the same types of forces are in operation in the Swiss franc as are in operation with the US dollar. The Swiss banks but particularly Credit Suisse and UBS were making loans to Eastern Europe which, of course, are now blowing up in their faces and they are having to repatriate funds (just like Americans have been doing). I wouldn't be buying Swiss francs or US dollars any time soon.
  170. Mufftache... I'm in the OTHER T.O. from Truro, Canada writes:

    Paul Martin started deficit reduction in 1996 after many years of fiscal mismanagement by Conservative and Liberal Governments.Remember Allan MacEachern?

    The current band of idiots in Ottawa would rather kill Muslims in Asfukistan than balance the budget. Hopefully a new approach will be taken once Mr. Family Values stops the latest Western Crusade or is defeated at the polls. I'll take either.

    Paul Martin's legacy?? How about the best Finance Minister Canada ever had.
  171. Erin Ballantyne from Canada writes: Yes, thank God for Paul Martin--he was a great Finance Minister.

    On another subject, it will be interesting to see if the US government will be able to get the Swiss banks and the other tax haven financial institutions to cough up the names of Americans who have planted money offshore to avoid taxes.
  172. charlie brown from Canada writes: Mufftache. Many would disagree with you on all points. Martin slew the deficit on the backs of the EI (read workers and small business owners) surpluses, downloading social costs to the provinces and expending the largess brought in by PM Mulroney's GST (which Mr. Martin et al said they would eliminate). Hardly rocket science! The rest of your comments e.g. killing Muslims etc. are just plain silly.
  173. Andre Carrel from Terrace, Canada writes: Charlie Brown, a lot of people have been commenting and continue to comment about Martin having balanced the budget on the backs of somebody or other. Have we lost sight of who 'the government' is? After eliminating all the protocol, isn't 'the government' us guys (and guyettes)? If we (the government) spend more than what we (the government) take in, we go in the hole, right? And if we (the government) want to get out of the hole, we (the government) either spend less, which means we buy and get less, or we (the government) do whatever we have to do to earn more. Them is us when we talk about 'the government,' isn't that so?
  174. Jack Sprat from Calgary, Canada writes: I've never voted for the federal Liberals but I have to take my hat off to Martin - I do remember him checking some of those more aggressive moves from the banks. And, yes, Martin did balance the budget by drawing from EI and slashing health care. However, today Canada is stronger and in better shape to ride out today's recession than most other countries in the world.

    Oh sure, the U.S. sneezes and Canada catches cold. However, that sneeze has had a far worse effect on Europe and Asia than on us.
  175. john doma from Montreal, Canada writes: Exclude National Bank as being in the Canadian Banks category as National has a total market cap of $5.5 billion. Basically a small penny stock bank with no potential with the present management team.
  176. Erin Ballantyne from Canada writes: Good observation Andre Carrel, and since it is we ordinary middle class folks who actually pay the majority of taxes, I would really like to see an end to pitting the poor against the middle class.

    We do have much more economic justice in Canada than they have in the US or other emerging banana republics. But with the Conservatives here beating the Chicago School, neocon drum, I certainly hope we will resist listening to them. The number one problem with the US economy is that the wealthy have been given a free ride for the past thirty years and the number two problem is that the neocons and neolibs have dismantled the regulatory structure there. The wolves have been allowed to ravage the sheep. If we went that way it would be a horrible tragedy.
  177. Deborah McEvenue from Stouffville, Canada writes: 'Derided for years as meek and mild' by some of our own Big Five bank CEO's as I recall. Wasn't it just a year or two ago that some of them were whining that regulators wouldn't let them play with the international big boys? And now they're taking credit for fiscal responsibility? Oh please....Kudos to the regulators and government and shame on those greedy bank CEOS (you know who you are!) who, if they had their way, would have led us down the path to disaster.
  178. Elmo Harris from Niagara, Canada writes: It seems to surprise some people that Liberals are more fiscally conservative than the Conservatives but it's a fact.

    Liberals = socially progressive but fiscally conservative. Conservatives = socially regressive and fiscally socialist. I guess that's what Flanagan meant by the term creepy conservatism.
  179. George Spelios from Australia writes: I think it's great to have a healthy banking system.
    However, what might be of substantial importance is to know how much Canadians own to foreign banks.
    If US or British banks have heavily financed commercial or industrial real estate, who is going to offer re-financing and what terms and conditions.
    Australians have a sound banking system but they own foreign banks a lot of money. Some of them have informed that they are unable to offer re-financing.
  180. bob adamson from Victoria, Canada writes: Canada has 4 boring virtues in the current global economic situation: (a) a well regulated financial institutions sector (banks, Credit Unions, Insurance Companies etc), (b) a well managed and funded public pension system, (c) a low public debt to GNP ratio, and (d) a reasonably well managed and funded medical insurance system. On the other hand, Canada is a relatively small national economy very dependent on the economies of the US, the EU and Japan; all of which are falling into serious difficulties. Also, personal endebtedness in the US, much of Europe and Canada is at historically high levels.

    Faced with an economic downturn, Canada trading partners referred to above will compound this problem and suffer serious deflationary pressure in the short run because each suffers one or more major deficiencies described above and, consequently, each must immediately reflate its economy to an unprecented degree through government fiscal and monetary measures. In the long run the accumulation of this reflation effort risks serious inflationary pressures once the deflationary risk is abaited.

    Because of its exposure to international trade, Canada cannot escape the impact of the problems of its trading partners but the 4 boring virtues will help us weather storm in much better shape (nationally and as individuals) than would otherwise be so. We may sometimes lose sight of this advantage because times will be difficult; is is just that they would otherwise be much worse.
  181. DAVID STEIN from TORONTO, Canada writes: Oh, this newspaper!

    All this self-aggrandising article adduces is that IN SPITE OF the goody-goody banking system of this abrasively prissy country, it is still being wallopped!

    Like the last recession, this will ultimately be WORSE for Canada than for the U.S., because, economically, we are just another American state, whose economic base is much narrower than America as a whole.
    Have you taken a look at Michigan, lately? THAT will be Canada, when this U.S. slump is over. Michigan will remain a bucket of rust, and Canada will become one, and stay one forever.

    We will, eventually, hold our noses, and, in desperation, clamour for membership in the United States. It's the only way to salvage what little we will have left.
  182. J Birch from Canada writes:

    Thank you Jean Chretien & Paul Martin for not letting the Canadian Banks have their way years ago - you saved our bacon.

    .
  183. Scott Walters from writes: I just read an article in an Australian newspaper a couple of weeks ago about how their banking system was the envy of the world. I guess everybody likes to toot their own horn.
  184. Jim Maxwell from Canada writes: So- in order to recover the 20 to 40% losses recently suffered in mutual fund RRSP accounts -when is the time to buy shares or funds heavily invested in the banks?
  185. postal one from Canada writes: 'All this self-aggrandising article adduces is that IN SPITE OF the goody-goody banking system of this abrasively prissy country, it is still being wallopped!'

    we're like michigan you say? since when did michigan have the world's 2nd largest reserves of oil??
    what we can learn from this is: the united states is in a spiral of unstoppable decline. canada must find a way to de-couple itself from it. abrasive prissienss is serving us well. how about quiet smugness...we're good at that too. and we deserve to be. the u.s. could takes notes from us on how to run a country. but it never will. americans are too greedy and self-destructive and we can't go down with them.
  186. Nick B. from Canada writes: All I can do when I read these comments. The loudest are almost always the most ignorant of the facts. No bank bailouts happened in Canada. An asset swap for mortgages that are generally performing did happen. The standards to qualify for those 40 year mortgages was quite high unlike the US market. Profitable banks are going to be a key component of any recovery in Canada when it finally comes. Too many of you, sadly, don't bother to understand the intracacies of the situation and how the systems work. It's really pathetic.
  187. Glynn W from Canada writes: Tis,dear G&M and Canada, is no time to rub salt in the wounds of your G7 partners! Totally inappropriate!
  188. economic slave from Toronto, Canada writes: Sorry Nick B, Canadians are a smart lot. They do understand what is going on and they do understand that their hard-earned tax money is being abused by whatever government is elected. Since when is granting a 40 year mortgage a wise thing to do. Since when is granting 10 billion dollars in mortgages with no money down a good thing. If it were a good thing the banks would never get rid of them. Why get rid mortgages which are going to make money for the bank. Sometimes, I think that the Money aint for nothing...Toronto and the Nick B's are hired by political parties to audit commentaries and to try and discredit the facts. They say things, but do not qualify them with any evidence. For example, Nick B. what are the specific high standards used for these 40 year mortgages? I'm still waiting for Money aint for nothing..Toronto to respond to the facts I presented earlier.
  189. Jim Z from Canada writes: Eric Ballantyne I could not agree more CNBC and Jim Cramer have been a short sellers dream come true. Cramer is against anything Canadian.
    CNBC news anchors keep attacking Obama's stimulus package give the guy a break he has only held the office since Jan 20th. Actually the parent company of CNBC is in dire financial condition. These people
    should be injecting some optimism into the economy. Rather than tearing things down yes the economy is bad but we will have to give it time to turn around. We survived the great depression and if we all work together we will survive this crisis. My suggestion is that CNBC should be looking and promoting the good things in the President's stimulus package. Everyone needs to hope and pray that our governments are doing the right thing and will get us back
    on track. The prime responsibility the governments have is to make sure the proper regulations are in place so this financial global melt down can never occur again. How the World banks got sucked into the US sub prime mortgage fiascal is hard to understand other than pure greed. However, a total lack of regulations was definitely evident. Canada did not have one major bank fail in the great depression and yes all will not be rosy in the coming months. But Canadian banks will persevere and come out of this crisis stronger over the long haul
  190. economic slave from Toronto, Canada writes: For those who admire the Martin and Liberal era, I have to disappoint. They are no better than the Conservatives. When Liberals were in power they diverted 54 Billion in Employment Insurance to government coffers to get rid of the deficit, and to squander on their friends (e.g., sponsorship scandal). Most Canadians spend $700 a year for EI and get nothing. This might have been legal, but not morally correct. EI is just another tax by the government who can get their hands on this money and spend it in whatever manner they want. Then you can forget how Martin and the Liberals never reported surpluses accurately. They always managed to short-sell projections, so they wouldn't have to lower taxes. The truth of the matter about political parties in Canada, is that they are corrupt. The name of the game is to get elected and to abuse power and the Canadian taxpayer. The corruption is too deep in both of these parties to every reverse the cancer. What is needed is a new party who will govern in the best interests of the middle-class taxpayer.
  191. Buddy . from Away, Canada writes: 'Since the credit crunch began in the summer of 2007, the Big Five banks have booked a total of $18.9-billion in profits'

    Take those profits a go shopping for US banks. I hear there is a fire sale going on ....
  192. E B from Canada writes: Our Banks are the safest in the world and our currency is sinking like a stone. Why are international investors staying away from Canada if we are such a safe place?
  193. john dancy from Canada writes: E B, because everyone is flocking to the new gold, the American Dollar.
  194. Rusty Brown from Cobourg, Ontario, Canada writes:
    TD Bank shares and the Dow Jones Industrial Average have been moving in lockstep for a long time. Why, I don't know. But I know they do. I would like to hear an explanation, if anyone has one.

    Globeinvestor.com allows you to compare the charts of up to three stocks/indices. Very useful. That's an understatement.

    RB
  195. The Money Ain't For Nothing from Canada writes: economic slave from Toronto, Canada writes Were these high risk mortgages insured by CMHC.? The answer is probably yes. However, where does the CMHC gets its money? Correct me if I am wrong, the CMHC gets its money from the Canadian Taxpayer. When the Conservative government realized what they had done, they moved to ban these high risk mortgages in the summer of 2008. However, billions of high risk mortgages had already been given out. It is these mortgages which the Conservative government has bought and wants to keep quiet. Perhaps, Money aint for nothing...Toronto, you'd like to comment upon this. Yes these mortgages are CMHC insured. CMHC gets its money from the borrowers, thiese insurance fee (depending on the loan/purchase price ratio) is up to 4-5% range. You state that these higher risk mortgages were included in the gov't securitization deal......some out here suggest that but I have not seen any evidence of that (its is a minor point given these were/are CMHC insured so the banks get their money anyway in the event of default. You also said>>>>Why get rid mortgages which are going to make money for the bank. Sometimes, I think that the Money aint for nothing...Toronto and the Nick B's are hired by political parties to audit commentaries and to try and discredit the facts. The banks for the past 20 plus years have been securitizing mortgages for a number of reasons to make money. It frees up capital to make more mortgages loans and banks generate revenue from the mortgages securitized on spreads/servicing fees. No, I realize you are big on conspiries, but no I have no political association, it's just that I found it necessary to respond to the mis-inforamtion out here. You appartently want to believe that there was this bailout for some reason.................blow your brains out
  196. Ballin Munson from toronto, Canada writes: Advice that applies to both good and bad times? 'This to shall pass'

    Anyone remember the first half of the 1990's? 12 % unemployment, etc. Did the Canadian way look so hot then?

    No this 'moment in the sun' will soon fade, and there will be other defeats, victories, etc.

    Besides, gloating at the relative demise of countries which buy nearly half the economic out put of the country is folly at best..
  197. E B from Canada writes: john dancy from Canada writes: E B, because everyone is flocking to the new gold, the American Dollar.
    ------------------------------------------------------------------------------------------
    This new gold is amazing. They are printing trillions of it with abandon.
    Unlimited supply for panicky investors who will get burned again and again..
  198. George Spelios from Australia writes: As an expatriate my heart is with Canada and hope that the Canadian banks are solid. I'm only worried about one thing.Do the Banks have a clear and responsible idea about their current risks in credit derivatives or other over the counter instruments? Does anybody from the banking authorities can guarantee that their net positions in derivatives are properly priced ? Sorry if I upset someone.
  199. George D from Canada writes: Curly, you're totally missing the point. These mortgages they bought were already guaranteed by the govt, so if they are 'toxic' (I'm really beginning to hate this term) the govt is on the hook anyway. They bought them, as they have done in the past as part of regular course of business, to increase the liquidity and cash flow (which was sorely needed).

    Even if they are (which they are not) worth 50 cents on the dollar CMHC are already on the hook, I'm not sure what part of this you don't understand. And again, this is not the first nor the last time this has happened.
  200. bill williams from Guelph from Canada writes: -

    It's nice that our banks are doing relatively well for now ... We'll see.

    To the extent that our banks ARE in better shape: '...more conservative... cautious ... risk-averse ... careful ...' Blah! Blah! Blah! Four words people: ray, goo, lay, shun.

    -
  201. Nick B. from Canada writes: Sorry slave. Normally I'd go into some depth but it seems to be pointless. Anyhow here's some things I can point out. CMHC gets its money from premiums and from revenue from mortgage-backed securities it sells to investors as well as revenue from its financing business for social housing. In terms of the swap deal, essentially what happened was the government borrowed on the open market on behalf of the banks, using its ability to raise capital much cheaper as a sovereign borrower. It then provided this money to the banking system to keep credit markets flowing, taking back mortgages in return which will yield them more than the cost of the capital. No additional risk was taken on by the taxpayer because they had already guaranteed by us.

    As for 40 year mortgages, those offered by the big five had stringent underwriting standards required by the mortgage insurers. Few if any exceptions for income confirmation were allowed and the minimum credit score required was much higher than conventional mortgages.

    On top of that, other than in limited markets there was nowhere near the size of housing bubble that appeared in the US, and most caught in the bubble are speculators rather than families risking losing their home. The impact will thus be muted. It will be a dismal year or two while markets correct but a recovery will come. Anyhow, I think I've said enough. And no, I'm not affiliated with or paid by anyone. I just actually take the time to understand what's going on.
  202. Ballin Munson from toronto, Canada writes: Is the US in long term decline? Of course, all 'empires' get eclipsed.

    But as many more learned minds have opined in the last five years, there still is no substitute, from the point of view of political, economic, military, diplomatic,and other consideratons.

    China? India? all lacking in many many ways. Russia, Brazil? even further down the list. Remember 20 year ago, it was a resurgent Japan, and possibly Germany on the horizon. No one even mentions them now. Europe as a whole is still culturally wildly divided.

    Fifty, one - hundred years from now? who knows.

    That is why the US Dollar, no matter how many are printed, is still the 'safe' haven.

    And Canada? It still has a choice. Can it move to be another Switzerland? More likely Belgium.
  203. r b from Calgary, Canada writes: Oh dear - lots of historical revisionism going on here, especially with regards to Paul Martin.

    In the 1990's Paul Martin was on record as saying that deficit reduction and deficit spending were unimportant.

    This was just before 'olde squeaky', Preston Manning, with all his obvious liabilities, began resonanting with Canadians on the need to 'eliminate the deficit'. In fact that mantra from Manning became the signature line mocked by comedians .

    Martin saw the political writing on the wall and reluctantly adopted balanced budget policy.

    FACT.

    As for the Chretien Libbies refusing the banks endless whines requesting mergers - well, even a broken clock is correct twice per day.
  204. Ballin Munson from toronto, Canada writes: Scott Walters : absolutely. Aus and canada have a lot in common. Amongst them, local mythmaking. It is amazing how many Australians recount stories of things like photocopying, and other technologies being invented there, yet were 'stolen' by large countries companies.

    So, yes the Australian banking systme is the 'best in the world' - in Australia.

    I remember the G&M years ago had a great article by a Canadian art student going to Europe the first time, and surprised that all the great museums did not have any offerings of the 'Group of Seven'. In fact none of the curators had even heard of them.

    He came back with the understanding that the 'Group of Seven' Were in fact 'world famous' - in Canada!

    If you remember Reagan's Funeral 3 people spoke - Thatcher, Gorbachev, and Mulroney. If you read the Australian papers, you would have seen that the most important/only people there were Gorbachev, Thatcher, and the Australian PM!. No mention of anyone else, or even the fact that Mulroney was one of three speakers..

    Funny, it is just the 'feel good' glad talk that small players make in order to boost their own self esteem...
  205. teddy bear from United States writes:
    if i had to choose between a sound economy and a sound banking system, a sound economy would be my first choice... it's not even close

    this is the latest example of canadians learning to be content with mediocrity

    canadians are afflicted with a mediocrity complex
  206. Maxim Petrov from Canada writes: Banks in Canada should use this moment and buy as many foreign banks as possible in order to secure future growth
  207. The Money Ain't For Nothing from Canada writes: teddy bear from United States writes:
    if i had to choose between a sound economy and a sound banking system, a sound economy would be my first choice... it's not even close

    this is the latest example of canadians learning to be content with mediocrity

    teddy, given the US has neither a sound economy or a sound banking system what is your third, fourth and fifth choices?
  208. E B from Canada writes: Ballin Munson from toronto, Canada writes: Is the US in long term decline? Of course, all 'empires' get eclipsed.

    But as many more learned minds have opined in the last five years, there still is no substitute, from the point of view of political, economic, military, diplomatic,and other consideratons.
    -------------------------------------------------------------------------------------------
    It is dangerous driving by just looking in the rear view mirror.......Huge negative changes are happening to the US colossus and the crumbling financial system that must support it.
  209. William J Gillies from Canada writes: Maxim Petrov from Canada writes: 'Banks in Canada should use this moment and buy as many foreign banks as possible in order to secure future growth'

    It may be difficult to find any without mountains of toxic assets.
  210. teddy bear from United States writes:
    okay canadians go ahead - keep crowing about your banking system

    keep bragging about how great it is, while you worry about losing your job... that is, if you haven't already and have yet to experience first hand how hard it is to find another in this economy... keep bragging, even after you might be one of the workers asked to take a pay cut or reduce working hours... keep bragging, notwithstanding the fact that perhaps your spouse has been affected by the same problems, or perhaps that household income may be cut by a third or a half because of the economy, that contributions to your kid's college or to your retirement fund are being put off and your dreams and goals are being deferred or dropped altogether

    canadians think small

    canadians are content with mediocrity

    canadians will look for any excuse, no matter how pitiful, to assert their superiority to americans

    the reactions to the G&M 'news' article in here is the latest example of this
  211. Yvonne Wackernagel from Woodville, Canada writes: While U.S. banks sold a large proportion of their mortgages, Canadian banks held the bulk of theirs on their balance sheets, giving them an incentive to make sure they were good loans. Riskier ones are backed by government insurance. And the law here makes it tough for consumers to walk away from a mortgage because banks can go after other assets.

    =================================================

    AND THAT IS OUR SAVING GRACE. If you default on your mortgage, you cannot hide with your other assets.

    Having said that, I wish Canadians would stop comparing themselves to the Americans and everyone else for that matter. Should it not be enough that we are good managers and should always strive to be good managers, notwithstanding anyone else.
  212. B D from Canada writes: teddy bear from United States writes: okay canadians go ahead - keep crowing about your banking system keep bragging about how great it is, while you worry about losing your job... that is, if you haven't already and have yet to experience first hand how hard it is to find another in this economy... keep bragging, even after you might be one of the workers asked to take a pay cut or reduce working hours... keep bragging, notwithstanding the fact that perhaps your spouse has been affected by the same problems, or perhaps that household income may be cut by a third or a half because of the economy, that contributions to your kid's college or to your retirement fund are being put off and your dreams and goals are being deferred or dropped altogether canadians think small canadians are content with mediocrity canadians will look for any excuse, no matter how pitiful, to assert their superiority to americans _________________________________________________ It's not about looking for any excuse to make our selves look better. We have to talk about our selves for the sake of national identity, because most American's do not have a clue what we represent, or how important the relationship is between our two countries. The bank failures in Canada could still be on the way. I am actually quite frightened that my bank Manulife, could fail. What will happen to my Mortgage etc.... Don't lump as all as one voice.
  213. Ballin Munson from toronto, Canada writes: EB : and the next 'empire' or unchallenged world leader is? and when is this going to happen?

    Predictions based upon current extrapolations led some wags in the early 1970' to say that based upon the growth in number of qualified attorneys in the US, everyone working in the US woiuld be a lawyer, by around 1989 - OK bad example!!

    How about the Club of Rome's early 1970's predictions of 8 years supply of minable copper, or 11 supply of Bauxite, etc?

    For the reasonable, foreseable future (say 2020, 2030) the US will still be the undisputable #1.

    By 2050? who knows? A united latin/Spanish Speaking world? How about Canada and the US uniting - that would be a diferent country from either of them now. We simply, cannot predict. Who would have imagined the fall of the iron curtan, or dissolution of the Soviet Union?

    I still feel those in the know, are correct, that the large populations, etc. of India, and China, which make them excellent sources of cheap labour, as well as potentialy immense markets, also burden them which huge issues of governability, etc.

    Brasil has other types of problems, and Russia's moment in the sun, is already fading (chronicled in the very paper).
  214. Kenneth Yurchuk from Canada writes: E B from Canada writes: Our Banks are the safest in the world and our currency is sinking like a stone. Why are international investors staying away from Canada if we are such a safe place?
    _______________________________________________________

    The two are not really connected, E B. Canada's dollar rose to and briefly above parity with the US$ for a while because of high world commodity prices, particularly oil. Canada's economy is seen in the world as a resource based economy, and the Canadian $ has taken on many of the characteristics of a petro-currency.

    What is somewhat surprising is that the dollar has not returned to the mid-60 cent range it was at before the Oil bubble started. That premium (15% or so) is probably a reflection of the relative strength of the banking system.
  215. Cynical Optimist from Canmore, Canada writes: Nick B - Good for you in trying to explain some of this stuff. I gave up quite a while ago. Many posters really have a hate on for the banks and disregard the facts when ranting. One point I would make. Many posters seem to think that the prohibition against Cdn Banks merging is what saved them in this crisis. I am not sure that larger , merged Cdn banks would have performed any worse than what we have seen. Certainly all the other aspects of the successful Cdn system would have remained intact-ie better regulation, conservative lending , better mortgage market structure, lack of mortgage interest tax deductibility. Who really knows? I for one am really glad the Cdn Banks have out performed their international counterparts (at least so far). It appears that many posters would rather they crashed and burned? Kind of sad really.
  216. Rudy Krueger from Canada writes: Here is a second try to make a simple comment.... must have snagged with the censors.

    The difference between Canada and US and other countries that are feeling more of a pinch than we are here, is not identified in the article and is not noted in the comments.

    All those countries of the world (including Canada) that express their social conscience in their laws and regulations, then engage armies of professional loop-hole-makers from lawyers to consultants ---- to catch-and-release criminals, rationalize the situations of losers and thieves, build fences to keep out or in the undesirables rather than addressing the root causes of undesirability, and in particular permit or even reward their political and corporate leaders for out-smarting society .... inevitably pay for the weakness they create. Stand for something or fall for anything!

    Canada is always slower than the rest of the world to embrace what others consider 'leading edge.' We are not morally superior but in this case we have been slower to pick up on the many financial 'tricks' that others either embraced or were forced to endure in order to stay in the international trade game.

    The USA has a lot of excellent regulations and laws that, enforced without exception,k would have caused their banking system to prevail - to avoid these earth-shaking problems. But, ironically when one considers the religious-moral persuasion claimed by the previous right-wing governments there - they knew to do well but did not do it.

    The US and other nations using American lawyers and consultants, spend billions of dollars each year finding ways around their own rules. This practice goes right into their professional sports, churches and other social institutions.

    Well, so do we, bgut our saving grace is that as usual, Canada is railing the rest of the world. In this case the turpitude had not yet soaked in quite as much - yet!
  217. Rudy Krueger from Canada writes: Sorry - my bad typing - I meant to say that as usual, Canada is 'trailing' the rest of the world ... this time in terms of turpitude.'
  218. Elmo Harris from Niagara, Canada writes: r b from Calgary, Canada writes: Oh dear - lots of historical revisionism going on here, especially with regards to Paul Martin. In the 1990's Paul Martin was on record as saying that deficit reduction and deficit spending were unimportant.
    ---

    Talk about historical revisionism! You show me where Paul Martin ever said anything of the sort - and I'm not talking about any of your Neo-Con rags. Paul Martin has always been a fiscally conservative. It is what has defined the man since day one in politics.
  219. Ed Long from Canada writes: teddy bear,

    I am holding an Economist, Feb. 14, special edition, 'To The Rescue, The Trouble With Obama's Plan'. Go to the library and read it.

    You will also find the following G7 charts:

    Deficit as % of GDP: Canada the lowest for 2009/2010 (less than 2%), America the highest at 10% and 11%.

    Unemployment: Canada second lowest, America third lowest.

    % change of GDP, previous year: Canada the lowest, America second lowest. And the two countries projected to bounce back the furthest in 2009/2010 ----- Canada and the United States.

    And while Obama must get control of the financial system, a major concern noted in the Economist, Canada, as this article states, is already on sound ground. Obama wants to begin investing in universal medical care, Canada completed the program thirty years ago.
  220. B-rock W from Albany, NY, Canada writes: Kevin O'Connor writes: 'Canada is by definition socialist'

    Perhaps you should look-up the definition of socialist... To meet that definition industry is state owned. Last time I checked people were able to own their own business privately in Canada.

    I laugh when I hear people in the U.S. and Canada say that we are a bunch of socialists...far from people. Nor is Obama a socialist. Is so difficult to imagine that a little oversight and perhaps government control over banking could be a good thing. I hear it day in and day out on the radio and TV down here in the U.S.

    Open your eyes people, the banks that are surviving these days are ones that had some oversight...why are you so against it!
  221. Elmo Harris from Niagara, Canada writes: teddy bear from United States writes:
    if i had to choose between a sound economy and a sound banking system, a sound economy would be my first choice... it's not even close. this is the latest example of canadians learning to be content with mediocrity. canadians are afflicted with a mediocrity complex
    ---

    As it stands today, you don't have either a sound economy or a sound banking system.
  222. Elmo Harris from Niagara, Canada writes: Maxim Petrov from Canada writes: Banks in Canada should use this moment and buy as many foreign banks as possible in order to secure future growth
    ---

    With a 77 cent dollar? Get serious.
  223. Elmo Harris from Niagara, Canada writes: teddy bear from United States writes:
    okay canadians go ahead - keep crowing about your banking system

    keep bragging about how great it is, while you worry about losing your job... that is, if you haven't already and have yet to experience first hand how hard it is to find another in this economy... keep bragging, even after you might be one of the workers asked to take a pay cut or reduce working hours... keep bragging, notwithstanding the fact that perhaps your spouse has been affected by the same problems, or perhaps that household income may be cut by a third or a half because of the economy, that contributions to your kid's college or to your retirement fund are being put off and your dreams and goals are being deferred or dropped altogether
    ---

    It sounds like you are speaking from personal experience.
  224. Rt. Revd. Malachy Egan from Halifax, Canada writes: Teddy Bear, you appear to be a kindly soul; of great wisdom: the type of American that gives the country a bad name abroad.

    How does the land of milk and honey look from your perspective?
  225. Nick B. from Canada writes: With respect to sound economy vs sound banking system, it should be clear now to all that banking underpins the economy. Not much of a choice to be made.
  226. Erin Ballantyne from Canada writes: Well, aren't YOU nice, Teddy Bear from the United States! Speaking as an American (born and raised in Ohio but have lived in my adopted and beloved Canada since 1983), I find your attitude an example of why Americans are disliked around the world. What's the matter, do you have stock in Citigroup or Bank of America? Too bad that crooks are running Wall Street and a lot of your Congress. I am quite ashamed of my former country and can hardly believe what has happened to the 'land of the free and the home of the brave.'
  227. Rt. Revd. Malachy Egan from Halifax, Canada writes: Canada's big banks have been sticking it to us for a long time [unless we happen to be shareholders] e.g. RBC charges $400 per hour to count cash before crediting it to our account.

    However, au contraire, they apply draconian rules [by-and-large, but with a few lapses] to mortgages, loans and derivitives, which has worked for them in the current crisis.

    Trouble is, with the Harper / Ignatieff circus running the country in parallel, the banks alone cannot save us. Knock, knock... that'll be the RCMP here to collect our 'registered' weapons.

    It's non-biblical, but the cockroaches, the rats and the RCMP shall inherit the country. Better hope that member Millington isn't gauleiter in your neck of the woods.
  228. Rusty Brown from Cobourg, Ontario, Canada writes:
    So what if the Canadian Dollar is only worth about $0.77 U.S.??

    Just because they are both called a 'dollar' doesn't mean they should be worth exactly the same. Totally irrelevant.

    RB
  229. teddy bear from United States writes:
    get it in your head canadians

    nobody would care if your beloved banking system fails. it it did, it would not cause global unrest, and topple governments abroad, as the us financial system has

    your banking system, well come to think of it your country, is largely irrelevant

    i find it highly amusing that the 'soundness' of canadian banks would be source of pride to people in here

    just watch - canadians will move on, and go back to grumbling about the service fees they are fed up being charged with by the very same banks they are proud of!

    LOL
  230. Some Guy from Canada writes: ' D Roberts from Canada writes: Canadian banks are 'safer' than the U.S. because our Mortgage industry is not a government entity (with interference) as in the U.S. with the Fannies and the Freddies. Their (longstanding gov't policy) regulation of lending to the unworthy (poor) was a tragedy. The government(s) then had to de-regulate to help Fannie and Freddie pool and sell the crappy and worthless mortgages. A creation of all Presidents and administrations since Jimmy Carter.

    At least Canada had some free market banking principles in place. In the U.S., policy got in the way.

    Private banking 1. Government interference 0.'

    I guess if you misstate the facts you can support any thesis. During the Reagan administration, Ginnie and Freddie Mac were changed from government run to the private sector. Check it out, they are publicly traded companies. They are private banking. CMHC is not a publicly traded company, it is an arm of the Canadian government and takes direct marching orders from Ottawa and until 2006 did not allow 0 down 40 year mortgages.

    The real score is

    government interference 2 private baking 0

    The second score was an own goal.
  231. Babbleon ! from Canada writes: Yes thank you Paul Martin, but it's just too bad that the Libs are such crooks and wasters of money.
  232. Rt. Revd. Malachy Egan from Halifax, Canada writes: Fortunately, Americans like 'teddy bear' are in a minority. Too much sun on the back of the neck, or too small a gene pool in the prairies, perhaps.

    Of course, I could be wrong about him, but I'd rather be 'irrelevant' than have his sort of relevance.
  233. urban ranger from Vancouver, Canada writes: teddy bear from United States writes:
    'your banking system, well come to think of it your country, is largely irrelevant'

    Well, actually, not to us.
  234. Milo Caesar from Toronto, Canada writes: Teddy Bear from the United States:

    Maybe nobody cares about the Canadian banking system... however it seems to have consumed you so much that you have dedicated a Sunday to its assessment. If we have hurt you in the past, I am sorry and wish your pain to heal along with the global distress we all feel economically. A bad time it is and I am sorry to see it has hit you hard. I do understand your resentment.
  235. Hope not such a bad thing from Canada writes: Response to teddy bear from United States writes

    You are a simpleton and a waste of space
  236. Elmo Harris from Niagara, Canada writes: Derek Holtom: here is a quick look at some of your posts: Derek Holtom from Swan River, Canada writes: the smaller Quebec's voice, the better it is for Canada

    Posted 18/12/08
    Derek Holtom from Swan River, Canada writes: given its size, population and location, it's pretty tough to feel sorry for Ontario.
    maybe they need a better management style?

    * Posted 03/08/08 at 11:36 AM ED

    Need more?

    Derek Holtom from Swan River, Canada writes: what a messed up province. [Quebec]

    * Posted 16/03/08 at 7:02 PM EDT

    Derek Holtom from Swan River, Canada writes: the question the media must ask Dion is why Alberta wouldn't separate?

    Posted 01/12/08 at 4:29 PM EDT
  237. The Money Ain't For Nothing from Canada writes: Ike Rock from T.O., Canada writes: Because these banks milking them the way they like?

    Ike, you say Cdn banks are milking Canadians. Being the industry observer you claim to be, my challenge to you is compared to the banks in the US and Europe can you please provide specific examples where Cdn banks are milking or under servicing its canadian customers.?
  238. Ballin Munson from toronto, Canada writes: I one tries to do say a currency conversion from Canadian Dollars to say, Thai Bhat, or some other currency, even the 'mighty ' Canadian bank will have to go throught Citi, or one of the others in New York.

    Check it out. Go down to the Royal, BMO, and one of the others tommorow. WHen they print you out a receipt, it will have a notation from New York, and the trading bank the exhange was executed through, perhpaps JP Morgan Chase, Wells Fargo, or Citi..

    The US banks are cornerstone banks, trading on one of the reserve currencies of the world (the US Dollar, perhaps the Euro, Pound, and Yen afterward) all other currencies have to go through one of those to get somewhere else (eg. Canadian Dollars to say Indian Rupees)

    It is because of this that US banks ar so important, and why Canadian banks, for all of their immediate solvency, are still 'spokes' on the wheel, and not the hub.

    So, no the world will not shed a tear if Canadian banks fail.. or perhaps even notice...
  239. L F from Canada writes: Joe Citizen you couldn't be more wrong. Please for the love of whatever check ypur facts!!!!!!!
  240. Elmo Harris from Niagara, Canada writes: Ooops! Previous post is in the wrong board.
  241. teddy bear from United States writes:
    it is a titanic struggle in the canadian psyche. a canadian is confronted with the following choice..

    do i give up the time honored canadian tradition of whining and stop complaining about the bank service charges i have to pay?

    .. or ..

    do i suck it up, stand tall, and be proud of the shape canadian banks are in, despite being bent over by the banks every chance they get?

    it's clear from the tone of the posts here that many canadians have chosen to be proud, even if it means sacrificing some of their principles - and a bit of dignity - in order to do so!

    lol
  242. Rudy Krueger from Canada writes: What weird comments, '...If Canadian banks fail..' Where the heck did that line of conversation come from?!

    And the Teddy Bear versus Canada thing!

    This is an important opportunity for [people to tell their ostensible leaders that they are watching, that they give a damn and that they will hold them accountable.

    What happens instead is a playground squabble breaks out. 'Nahhh yer dog's a mutt! Well mebbe so but yer ma wears army boots. Oh yeh? Cross this line and say that... I dare yuh!'

    What a crock? I used to have this mind's eye image that the commenters here were adults - even older and experienced adults. Over the months I have come to envision most of them as high school pranksters with backward ball caps and slack-in-the-butt jeans from the Goodwill store.

    Anyway, if any politicians are reading this, I hope you don't get the impression the drivel represents the average maturity of your constituents.
  243. Cynical Optimist from Canada writes: Rudy Krueger. I agree-the majority of these posts are really discouraging. I guess a lack of understanding never got in the way of a strongly held opinion or the desire to spread it. I'm outa here.
  244. Rockin in the Okanagan from Canada writes: Dave C from Canada writes: Canada's national identity:

    Hockey
    Tim Horton's
    Our Banks

    Tim Hortons is U.S owned...so that leaves two things for our national indentity.
  245. If I had a million lobsters from canbawe, Canada writes: Hey Teddy bear, just wait till the Chinese come looking for their cash. I have a feeling you'll make a good slave in the mines of china.

    Or better yet, maybe he'll make you his girlfriend.
  246. Ike Rock from T.O., Canada writes: Very irrelevant article. Another example comparing Canadians to Americans.We are better than the US...US banks that either failed or are having trouble used to be key players in the finance world.The same thing goes for some European Banks.Since Canadian banks are better, how come they are not willing to lend more consumers, or cutting credit lines to them? Over all, Canada is a small market and Canadian banks are conservative when it comes to lending even domestically. Outcome is there when they play internationally. CIBC is a great example of it.I still do not get it. Why are Canadians proud of their banks?Because these banks milking them the way they like?
  247. If I had a million lobsters from canbawe, Canada writes: Hey Teddy Bear you didn't really think the Chinese were simply gonna let you blow all their cash on TV's did you? Bill is coming due my friend. They are gonna come gunning for you guys.

    Geez man, I'd be building bunkers if I were you. I'd be locking up your daughters as well.
  248. Joe Citizen from Everytown, Canada writes: ..... IF

    IF HARPER HAD HAD HIS WAY CANADIAN BANKS WOULD HAVE BEEN DEREGULATED. HARPER WANTED AIG TO BRING THEIR SUB-PRIME MORTGAGES TO CANADA.

    WE ARE LUCKY THAT HE NEVER HAD A MAJORITY GOVERNMENT.

    IF HE HAD WE WOULD BE IN FURTHER RUIN.
  249. Cameron Jantzen from Halifax, Canada writes: RB,

    You're right balanced budget, debt retirement was Manning's idea.
    Martin actually did it though. That's more important still.

    Harper believes in balanced budgets too, supposedly, but his 25% increase in spending and decreased taxation have failed us as the market cycle turned.

    In the end, Manning deserves a lot of credit for the concept, but concepts are meaningless without action. Still I wish Manning were running the Reform ship. I'm sure his lack of fondness for Harper increases daily.
  250. Voltaires DistantCousin from Toronto, Canada writes: You can thank Paul Martin and Jean Cretien for this. Remember the pressure for bank mergers under the Liberals? Remember the arguments that our banks had to merge to be 'competitive' with the other world banks? The push for mergers was part of a push for deregulation, a push that most countries around the world yielded to. But Martin/Cretien held their ground, and did not allow the mergers to happen. They did not deregulate our banking industry. They did not listen to the talking heads who argued that Canada's regulations were preventing our banks from competing with the rest of the world.

    As it turns out, those regulations are what allowed our banks to emerge relatively unscathed from the current financial meltdown. It was the 'markets = good' and 'regulation = bad' crowd that was wrong.
  251. Burdened Soul from Canada writes: E B from Canada writes: Our Banks are the safest in the world and our currency is sinking like a stone. Why are international investors staying away from Canada if we are such a safe place?
    ______
    Although our banks are safe, Canada has a number of issues that keep investors away:
    1. Our governments of late, being minorities, don't project security
    2. The threat of separatism of Qeubec does not project security
    3. We are in a self-induced struggle over how to handle our resources
    4. We lack a definitive policy on the environment ... so controls can always change.

    Those are just a few.
  252. Robert R from Canada writes: In 6 months when we've plummeted into an even deeper recession and caught up with the others, perhaps we won't be quite so smug...

    Anyone heard of a lag effect? What makes any of you, who think we're better off than the rest, believe that Canada's is anything more than an appendage of the American economy? Now that China is drowning, who's left to buy our rocks and dino-fuel?
  253. Ballin Munson from toronto, Canada writes: RE : a few posters back,

    These boards really do get discouraging. I remember a few months ago a story on the relative costing of retail goods in Canada, vs you know where.

    Instead of having an intelligent round - table on tarrifs, market size, etc. it quickly deteriorated into a collection of 'I was in 'pick a border town' last week and saw underwear for less at Target' apocryphal meanderings.

    Same here. Nothing changes. I used to think that the average G&M reader was a little more intelligent that say the average STAR reader, but now, I am not so sure.

    Or maybe it is just the posters...
  254. Lucien Pignon from http:unveilingcanada.blogspot.com, Canada writes: Looks like this article gives some hope.

    Well, Alberta won't make profit anylonger with oil, and I bet you that GM and FORD are out of Ontario by June, so, whatever your banks are good or not,

    Canada is finished

    UK, Canada and the US are the countries who are going to struggle the most
    http://www.leap2020.eu/English_r25.html

    Shadenfreude
  255. Bob Dylan's Voice from Canada writes: Rudy Krueger from Canada writes: What weird comments, '...If Canadian banks fail..' Where the heck did that line of conversation come from?!

    And the Teddy Bear versus Canada thing!

    This is an important opportunity for [people to tell their ostensible leaders that they are watching, that they give a damn and that they will hold them accountable.

    What happens instead is a playground squabble breaks out. 'Nahhh yer dog's a mutt! Well mebbe so but yer ma wears army boots. Oh yeh? Cross this line and say that... I dare yuh!'

    What a crock? I used to have this mind's eye image that the commenters here were adults - even older and experienced adults. Over the months I have come to envision most of them as high school pranksters with backward ball caps and slack-in-the-butt jeans from the Goodwill store.

    Anyway, if any politicians are reading this, I hope you don't get the impression the drivel represents the average maturity of your constituents

    ===========================================
    Thanks Rudy. A couple of years ago I used to read the comments section because I thought it was more important than the news. There were some good ideas and well-written comments. It has deteriorated to partisan politics and regional bickering and the comments are monopolized by (likely paid) partisan hacks who try to make every issue left or right. I am happy that there are a few good commentators such as yourself left.
  256. Peter Kells from Bytown, Canada writes: It is no surprise that the Canadian Banking system is as conservative, pragmatic and thrifty as it is given the predominance of dour Scots in the financial economy of Canada in the 18th and 19th Centuries. We are still the children of the Scottish immigrants to Canada who ran the Hudson's Bay Company, founded the Bank of Montreal (Canada's first Bank in 1817), created our Dominion itself (does a name like MacDonald come to mind) and ultimately financed and built the trans-continental railroad. And so, in respect to our ancestors, yes it is good that we have survived but we best not crow about it - there is another winter coming!
  257. economic slave from Toronto, Canada writes: Money aint for nothing...Toronto. I'm still waiting for you to present some evidence that the 40 year high-risk mortgages with zero down underwent some rigorous mortgage scrutinization process. What kind of scrutinization process would have approved 56 billion worth of 40 year mortgages and 10 billion zero down mortgages 40 year mortgages. If these were such good mortgages why did Flaherty ban them in the summer of 2008. Before you go on to challenge someone else (Ike Rock), it would be nice to hear your opinion, since you were so adamant that the mortgage scrutinization process wouldn't produce high risk mortgages in Canada.
  258. Curly Maple from havenotsville, Canada writes:
    economic slave from Toronto, Canada: Don't hold your breath--I am waiting for a retort to my argument that the banks weren't bailed out. I pointed out some serious short comings in his reply, so I really don't expect anything. You have asked a very good question that I don't think he'll be able to answer.
    p.s. I really like your name--you get it!

    hoka hey
  259. George Spelios from Australia writes: The truth is that I learned something more about the banking system in Canada. However, some people do not help with their comments.The issue is not if a political party is better than another or if Americans are better than Canadians. The point is who did a good job and who didn't.
    Is it the Bank of Canada or the Federal Reserve Bank who did a better job and why? Maybe this way we can secure better the banking systems.If the banking system fails then we are all finished. Be constructive and not destructive with your ill informed comments. We are talking about banking not politics.
  260. The Coming Depressionv from Canada writes: LIARS!LIARS!LIARS!
    Royal Bank ($624 billion assets) ; $4.8 trillion total derivatives ; $4.3 trillion OTC derivatives

    TD ($432 billion assets) ; $2.4 trillion total derivatives ; $2.1 trillion OTC derivatives

    BMO ($387 billion assets) ; $2.7 trillion total derivatives ; $2.0 trillion OTC derivatives

    Scotiabank ($429 billion assets) ; $1.3 trillion total derivatives ; $1.2 trillion OTC derivatives

    CIBC ($344 billion assets) ; $1.2 trillion total derivatives ; $1.1 trillion OTC derivatives
  261. Erin Ballantyne from Canada writes: Mary Smith from the United States wrote:

    'Erin Ballantyne,

    GAWD, you're full of yourself (and you exhibit symptoms of the world renowned Canadian Inferiority Complex). It's people like you who give Canadians a bad name. '

    I could say the same to you and your ugly American routine. What is it about this website that seems to gall Americans? Since I am an American by birth and raising, and a Canadian by preference, I have seen both sides of the border up close and personal. Canada is the kinder, gentler nation that I wish the land of my birth was.
  262. Erin Ballantyne from Canada writes: The Coming Depression from Canada: Where do you get your figures--links?
  263. Erin Ballantyne from Canada writes: These scare mongers are trying to drive down the price of every stock they can so that they can make lots of money by selling them short. Not content with doing it to American stocks, they have now determined to attack every other stock in the world. The VIX has stabilized but the stocks are still going down---what that means is that the short sellers are having a heyday--I hope they all get severely burned when the stocks start rising. A pox on all their houses. CNBC and Jim Cramer are tools for the short-sellers. Scumbags.
  264. steve allan from Canada writes: Canadians banks are a fraud. There's no secret to their success - they're basically a cartel with the highest service charges in the world and the lowest interest payments for depositors. And if you don't like it, you have no where to go because it's like I said - a cartel, in other words, organized crime.
  265. Erin Ballantyne from Canada writes: Canadian banks are not at all unreasonable--they collect nice profits but then they have a great deal invested. They have been in business for a long time and have resisted the mismanagement that characterizes banks in other nations. I have not found their fees burdensome. They are hardly organized crime.

    The same cannot be said for the men running many large American banks like Bank of America who the granddaughter of the fellow who began the bank in 1905, had some choice words for. Her large holdings of B of A stock are now pretty worthless. She said that she felt very sorry for her children and grandchildren who will inherit nothing.
  266. J. Michael from Canada writes: Erin Ballantyne from Canada writes: 'The Coming Depression from Canada: Where do you get your figures--links?'

    These are readily available figures - try this link from the Canadian Business:

    http://forums.canadianbusiness.com/thread.jspa?threadID=15623&tstart=15

    Bottom-line - We are kidding ourselves if we think we are immune from this economic tsunami.
  267. Many Y's from Central AB, Canada writes: God people love to complain on this site...here we are, recognized in the WORLD community for a strong, sound and stable banking system, and people have nothing better to do than complain about how they are getting screwed.

    Last time I checked, the people getting screwed lived in the USA, had banks prepared to write mortgages for people who couldn't afford them and are causing a 'run on the banking system' where millions of people are going to LOSE THEIR HOMES.

    For those whose narrow view is that there are 5 banks that 'rule the world' in Canada, do your homework...more than 10 million Canadians deal with more than 400 credit unions that are independant and autonomous organziations, oh yeah, they are 'run by the people that are members'...if you are so brillant about how things should work, then consider putting your 'money where your mouth is' and step forward to 'lead us out of this crimial banking environment'. Oh, but wait, then you couldn't complain about others from the sidelines...choices, choices...
  268. Raymond Lowe from Canada writes: @ J. Michael
    Hmmm... had no idea Canadian banks had so much $$ in derivatives contracts. When the US finally begins wiping out most of these (mostly) bogus gambling debts - as it looks like they are going to have to do - see the NY times article on the confidential AIG report (AIG: is the risk systemic?) and consider the fact these derivatives contract are (very) conservatively valued globally at 800 trillion - it will be interesting to see how the banks here take that hit. But it is pretty much guaranteed the federal gov't will protect legitimate banking functions - as will the US and others.
  269. Morris Rewitt from London, United Kingdom writes: Passionate diatribes or jabs aside , this thread has been pretty good so far . Regardless of what happens to Canadian banks in the future , reading you guys makes me feel proud to be Canadian , just because most of you talk COMMON SENSE and give it prevalence over greed. Here in Britain , with 22% of the economy centred on the City , faces are glum and there is deep regret that greed uncoupled finance from the real economy so many years ago , with no going back . Sink Britannia , rule Canada ?
  270. The Money Ain't For Nothing from Canada writes: economic slave from Toronto, Canada writes: Money aint for nothing...Toronto. I'm still waiting for you to present some evidence that the 40 year high-risk mortgages with zero down underwent some rigorous mortgage scrutinization process. What kind of scrutinization process would have approved 56 billion worth of 40 year mortgages and 10 billion zero down mortgages 40 year mortgages. If these were such good mortgages why did Flaherty ban them in the summer of 2008. Before you go on to challenge someone else (Ike Rock), it would be nice to hear your opinion, since you were so adamant that the mortgage scrutinization process wouldn't produce high risk mortgages in Canada. The information that I provided earlier relates to 'mortgage securitization' business/process - if you want to or have the ability to comphrend what this is all about try googling it.. Where you came up with this term of 'mortgage scrutinization' is a mystery to me. For the record, I never said that 40 year mortgages were not risky - read my postings - what I said was it was aminor point in that these mortgages being CMHC the risk of default was already with the gov't/CMHC. There was no bailout - a number of other posters have also communicated this to you and your fellow simpleton - but you persist and that is ok with me.
  271. Roman Spears from Canada writes:

    Ok we have sound, boring banks. Does that mean we aren't shedding jobs like a cat sheds hair? Does it mean that our social infrastructure and support will remain intact and capable of absorbing the economic downturn? Or C, will it mean that the banks will continue to make record profits while our children try to sell apples on street corners in order to survive?
    I hope that it means that our recession/depression will be shorter and less severe than the elephantine economy to the south of us, but the cynic in me thinks it will mean little to the average person trying to feed their kids and their own self-respect. Time will tell.
  272. Erin Ballantyne from Canada writes: J Michael from Canada--On the website you reference: 'It's important to keep in mind not to blow things out of proportion here. You are talking about outstanding aggregate derivatives exposure....but you really should be looking at net exposure.

    For example: Suppose Bank A has entered into two interest rate swap deals both having a notional value of $100 million. That's a total of $200 million of notional derivatives exposure. However, Swap 1 is a 5-year pay-fixed swap. And Swap 2 is a 5-year receive-floating swap. Net exposure is ZERO, as they offset eachother...but it would be reported that they have $200 million notional outstanding swap exposure.

    Banks do not have anywhere near the trillion dollar net derivatives exposure......most transactions offset each other in the normal course of the bank modifying the exposures of their books. If you want to get an idea of the extend of the true exposures, you need to look at the reported sensitivity data, of which most are externally reported in the Risk Management and credit analysis sections.'

    While I agree that Canadian banks will have their bottom lines hurt by defaults--particularly credit card default---it is highly unlikely that we will see insolvency in any of them, with the possible exception of CIBC.
  273. Cynical Optimist from Canada writes: Steve Allan: You are wrong. Canadiian banks do not have the highest service charges in the world nor do they pay the the lowest interest rates .Interest spreads are really what is important ie the difference between interest paid and interest collected. These are quite reasonable in Canada. In my experience Canadian Banks give very good service for fees charged. Don't let the facts get in the way of your rant.
  274. Nick B. from Canada writes: economic slave, CMHC's underwriting requirements for 40 year high ratio mortgages required stricter verification than for most mortgages. Banks also didn't normally offer them except in limited circumstances either (though brokers sold them more aggressively). Having some experience as a lender working with them I can tell you that they were only generally available to individuals who needed the longer amortization not because they were buying too much house but because they had significant other obligations (for example young professionals paying off student debt which caused their TDS to show abnormally high. They were not used like subprime mortgages in the US were (there really isn't any equivalent to that sort of lending in Canada as banks were not interested in it).
  275. V Patterson from Fredericton, Canada writes: 8000 big banks in the states, 5 here ( 6 if counting CWB). No wonder it was and is a regulatory nightmate for the US.

    And again, our govt didnt bail out Cdn banks, they just bought the failing mortages that they, as the govt were ALREADY legally and financially responsible for thru CMHC.
  276. Systemic Risk from Canada writes: V Patterson - there aren't 8000 'big' banks in the US - most of them are tiny with a few branches in one state. RBC is now the fifth largest bank in NA, and may make it to #1 at this rate. All 5 Cdn big banks would be in the top 20. And BTW, 6 here is National Bank, Cdn Western is 7, both having branch networks in the hundreds. TD Bank now has more branches in the US than Canada (though whether this is a good thing is an open question).

    Mary Smith - many young Cdns move to the US for work every year; they are not 'immigrating' per se. What is notable is that when they get a bit older, and want to have families, many of them move back for obvious reasons. I think if more Americans, especially middle class ones currently losing their homes at the rate of 10,000 a day, knew about Canada, they might seriously consider a move here. You have it drilled into you from birth that the US is the best place to live on earth, in spite of the gated communities, utterly ruined cities like Detroit and Buffalo, the new, newly abandoned suburbs of Ft Myers and Phoenix, and a divided society where everything depends on how much money you have. I could get a US passport and I dont want one thanks.
  277. MR. Gobbler from Canada writes: There are some people that have an incredible a huge infatuation with living in the US. No idea why.
    -My brother married an American, dissed living in Canada, and then moved the US. His entire mentality changed overnight. Started supporting the US war in Iraq, positive about bush, etc...
    Of course, when his wife need an operation, he 'visited' Canada for it
    -My cousing married an native american living in Arizona. Has been deported back to Canada twice already, been to jail trying to get cross the border, failed the interview to get his greencard, got released from jail, and jumped ship again. Currently working illegally in Arizona.

    No idea what they are thinking. Probably some mental issues there. Sad really. Oh well, I wish them the best with their new 'home' country.
  278. Dick Garneau from Canada writes: The World Banking and Financial Systems are interlinked through derivatives and insurances.

    Until the Financial systems flushes out the $497 trillion exposure, World Financial Markets will not stabilize.

    The bailout of AIG, as an example, is bail outing financial systems world wide. The same is true for the City-group.

    Canada is lucky, we only had a few billion dollar exposures, so far, to write off.
    .
  279. a neumann from Chicago, illinois, United States writes: Nice to hear some good news from the financial sector. i hope this distinction is not like an athlete making the cover of Sports Illustrated and then going into a prolonged slump.
  280. K S from Recipro City, Canada writes: Systemic Risk and Erin Ballentyne, Mary Smith from United States is a troll. She frequently dumps her right-wing-Ann-Coulter type trash on these boards to get people riled up when in actuality she is most likely not even from the States. I'd rather like to think she (if it is she) isn't, or at least isn't indicative of the average American's point of view. Very interesting conversation so far from the other posters. Sometimes between the G&M's shoddy reporting and the shrill partisan shreiks coming from (likely paid) hackers it is hard to decipher what the real story is. But a lot of the posters on here seem to have a good idea what they are talking about. The political ones and the trolls... you can often smell them coming a mile away. Just don't feed them and they'll eventually give up.
  281. Herman Nurnmurmer from Victoria, Canada writes: 'Since the credit crunch began in the summer of 2007, the Big Five banks have booked a total of $18.9-billion in profits. In roughly the same period, the five biggest U.S. banks have lost more than $37-billion (U.S.).'

    Amazing. I love Canada.
  282. James Convey from vancouver, Canada writes: I am just sorry that they (canadian banks) were not permitted to seek out merger opportunities within Canada, over the last decade. Just think how truly powerful and how much of an even stronger Global player they would be . As it is the Royal Bank still only ranks 10th. 20 years ago they were ranked higher.
  283. steven threndyle from North Vancouver, Canada writes: I am glad that CDN banks are doing well, but these stories remind me of Sally Field's Oscar acceptance speech where she breathlessly wailed 'you like me, you really, really like me...'
    What about CDN companies who don't throw any money into R&D or innovation (let's face it - derivatives are NOTHING if not an 'innovation'). So we look good - for now. Having said that, we did have the ABCP fiasco; though apparently funds are flowing there again and that mess has been cleaned up...
  284. Roy White from Canada writes: James Convey from vancouver, Canada writes: I am just sorry that they (canadian banks) were not permitted to seek out merger opportunities within Canada, over the last decade. Just think how truly powerful and how much of an even stronger Global player they would be . As it is the Royal Bank still only ranks 10th. 20 years ago they were ranked higher.
    ----------------------------------------------------------------------------

    Maybe smaller is better. Even the US is starting to look at future banks as being smaller. The banking crisis has shown in the US and Europe that smaller banks can be reorganized where the big banks have been nationalized. Maybe Canadian banks are doing as well as they are today because they are small enough to be well managed. GM has shown for many years that a large car company can get into all sorts of problems mainly because of it's size. It is very hard to change quickly in this global environment where you size does not allow for a radical change in economics. Anyone who has run a small business knows that when you have to you can quickly change your bushiness model overnight.
  285. Gordon Tryon from Canada writes: How about some of us more eulogistic types here get together and have a National Bankers Appreciation Day? We can march down Burrard Street carrying signs that proclaim our undying loyalty to our particular member of the Big Five, reminiscent of the way happy Russian serfs once extolled the virtues of their landowners. Some of us can dress up like walking ATM's, festooned in fee rates and small print. It'll be fun and we'll be the envy of the free world!
  286. bruce t from Boston, United States writes: My god the pessimism in the majority of posts. Wow! This is a good thing people! Pat your government on the back for once and step back and look at the big picture. Incredible.
    Canada's regulatory system has played it conservative, and that is exactly what modern successful markets demand.
    And those of you so concerned over the stock price, take a close look, the banks are still making profits! They are not penny stocks like most US banks! Just because our market system likes to downgrade them because they don't reach projected profits doesn't mean they aren't sound. That is Wall street's/Bay st out of date model. Buy low!
  287. postal one from Canada writes: 'canadians are content with mediocrity canadians will look for any excuse, no matter how pitiful, to assert their superiority to americans'

    Do we have to come down there and whack you over the head with it?
    Canada has:
    1) A sound and prosperous banking system
    2) A working healthcare system. Regardless of the complainers, when you really need it, it's there for you in spades. And it is cost effective.
    3) A sane foreign poilicy - note: No Iraq engagement.
    4) Low crime rates thanks to tight gun regulations.
    5) High marks for innovation and research including stem cell. Our reasonable law has been in place since 2004.
    6) Balanced social policy. Gay marriage because it is fair. Abortion because it is a waste of our time to constantly battle over it.

    What you seem to think is mediocrity, we call sanity. Our biggest problem is YOU. And if you sink, like the Titanic, we will sink with you. Stop wasting your time screaming at each other on cable news. You can learn from us. So shape up!! Or shut up!
  288. Agile Geezer from Canada writes: Haha, the comments here reflect the so typical Canadian penchant for self flagellation. It's good news folks! I know it's hard for some of us to accept that Canada can indeed show something positive once in a while that others admire...even though we can't or won't believe it ourselves. To quote the immortal (ugh!) Spiro Agnew, some of you are a bunch of 'nattering nabobs of negativity'.

    Spring is around the corner, we have an extra hour of daylight, and the Habs have a new coach so why are some of you so negative, hmmm...?
  289. Jake Jay from Toronto, Canada writes: Way to go Postal one from Canada! Sometimes the only way to get through to them is a 2 x 4 over the head.
  290. dennis cape from United States writes:
    The relative success of the Canadian banks is an argument FOR protectionism.

    It can work.
  291. Jake Jay from Toronto, Canada writes: To teddy bear from United States: No, we don't have a mediocrity complex. On the contrary, we have a superiority complex, but rarely advertize the fact. (Unlike the States, we don't blow our own trumpet too loudly - we're a bit more reserved). For decades, U.S.A. has had a superiority complex and has not been slow to tell the world about it. Trouble is, they only THOUGHT they were superior. That's their culture. They were superior in only one respect - they had more money than most other nations. This current economic crisis will cut them down to size. Unfortunately, U.S.A. is pulling down the rest of the world with it. The U.S.A. is superior to other nations in only one respect - their military might (Except maybe Israel. Israel has the 'special' relationship, not Britain). Read Postal one from Canada above. Unfortunately, when politicians get together, they tend to swoon over each other. Haven't you noticed that it's always a love-in. They discuss the acrimonious stuff behind closed doors. The public just get to see a bunch of smiling faces amidst photo ops. Have you noticed that they are always smiling and patting each other on the back, even in these worst of all times? Yes, we do have self respect. -- Just little respect for U.S.A. ... too many crime zones and people suffering from lack of basic health care. When the dust settles, we'll see who who are the losers; and I suspect the States will lead that pack. But I wish them well because unfortunately we depend on them for trade.
  292. The Central Screwtinizer from Ottawawa, Canada writes: Its a real bowl of goddam cherries here...the only thing going to save us is the recent 'pot' harvest...
  293. K S from Recipro City, Canada writes: ... and the trolls are being fed well today ... will people just stop responding to the inappropriately-named 'teddy bear' already? The most he/she can do is p!ss on him/herself, and has already done a fine job of that.
  294. Nick B. from Canada writes: dennis cape said:

    'The relative success of the Canadian banks is an argument FOR protectionism.

    It can work. '

    Er, not sure how it's an argument for protectionism. It's an argument for reasonable regulation. Protectionism doesn't work. It cannot work. Basic, basic macroeconomics.
  295. The Central Screwtinizer from Ottawawa, Canada writes: If you thought I was kidding...read today's report by Sun Media...
    Tue, March 10, 2009

    Two charged in $40M Pembroke pot bust--Mississauga men face trafficking raps
    By Sun Media

    Police have charged two Mississauga men in connection with a Pembroke marijuana grow-op bust last fall that the OPP called the largest in Canadian history.

    Police seized 40,000 mature marijuana plants, with an estimated street value of $40 million, at a farm at 1970 B Line Rd. in Laurentian Valley Township on Sept. 18, 2008. The marijuana was hidden between stalks of corn in a field adjacent to a house and barn, and was fed by an irrigation system of plastic pipe from a pond and above-ground swimming pool.


  296. The Central Screwtinizer from Ottawawa, Canada writes: If that was the largest how many and how much smaller were the ones' they didn't bust...? If you gott'em, smok'em...
  297. Bill Hegel from Vancouver, Canada writes: Much is being said about how Canada's banks are the best in the world at handling their money; but have we forgotten that the banks themselves cried foul long and loud because they were not being allowed to expand their investing arms like most other big banks around the globe. I think we should give credit to our government for its refusal to give in. We are quick to condemn the government but so slow to give it any credit for a job well done.
  298. Carl Hansen from Canada writes: What's the difference between our banks and the US banks. Whether you're leaveraged 70-1, 30-1, or 18-1, it doesn't make much difference.
  299. Dave Patterson from Thailand writes: - perhaps the envy is a bit premature - Global Financial Meltdown: Forces beyond our control, or the greatest scam ever?
    http://www.rudemacedon.ca/greatest-sting-ever.html
  300. Karen v from Canada writes: Way to go, Postal One and Jake Jay! The only thing you forgot to say is that China now owns the US. China is the one bailing out their banks... and Singapore and Dubai...
  301. Karen v from Canada writes: I think poor Teddy might be jealous...
  302. J M M from Canada writes: Well, well so Obama and other countries would like to be in Canada's financial position. How wet are Iggy's pants!!!
  303. J M M from Canada writes: Bill Hegel--thanks for your post but you know Harper will never get praise from Canada only from other countries who understand the issues. This is a sad fact.
  304. Larry Hill from Canada writes: George Spelios from Australia writes: The truth is that I learned something more about the banking system in Canada. However, some people do not help with their comments.The issue is not if a political party is better than another or if Americans are better than Canadians. The point is who did a good job and who didn't. Is it the Bank of Canada or the Federal Reserve Bank who did a better job and why? Maybe this way we can secure better the banking systems.If the banking system fails then we are all finished. Be constructive and not destructive with your ill informed comments. We are talking about banking not politics _______________________________________________________ Actually, George I do not believe that we can credit the Bank of Canada with all that much. Their role is more of long term monitary policy not regulation. Much more credit can be given to the Office of the Superintendant of Financial Insitutions. Their role is more regulatory and they do a pretty fair job. They also had less government interference in their daily work. There is also some truth in some of the random posts here. The Prime Ministers Office has been reluctant to give more power to the Chartered Banks. (some of the Canadian public will tell you that they have too much power already) I doubt that this reluctance was due to a clear vision of the future, but more that the Banks have too strong a power base already. Chretien for example believed the Banks to be a tool of his various opponents (such as Paul Martin). When Martin got into power, he could not be seen caving into his own power base. Time would have only told what changes Harper would make with a majority government. And the there is more than a trace of truth in the fact that Canadians are by nature more conservative (especially with money) than the Americans. For all his bile, Teddy has a grain of truth in some of his nasty comments. Most of his cracks though I put down to impotent jealousy.
  305. George Spelios from Australia writes: Larry Hill, thanks for the info. I'm glad the Canadian Authorities did their job. I was wondering if the same applies to the Americans.
    I understand that most of Eastern European(ex Soviet Union) countries are in financial trouble. They are unable to pay back their bank loans. Any Canadian banks have loans in these countries?
  306. Erin Ballantyne from Canada writes: I don't think Canadian banks have much invested in Eastern Europe but Credit Suisse is up to its ears in trouble from loans to Eastern Europe. There have even been some dark rumours that Switzerland will have similar problems to Iceland because of the enormous number of Swiss assets that are and going to be written off and down. What is interesting is that the Swiss franc is still riding high in spite of the problem. Isn't it odd that Switzerland may be in for severe financial difficulties and yet the Swiss franc is doing fine--the US is having severe financial difficulties and yet the US dollar is defying predictions that it is in for a fall? The whole 'reserve currency' argument only goes so far. Wonder what's going on?
  307. Pohaku Pohaku from Hawaii, United States writes: Jake.. the Canadian superioity complex is just done a differnt way.. smugger, with a 'sorry' thrown in to make it sound polite. This line says it all... 'But I wish them well because unfortunately we depend on them for trade. '. One can't be too 'superior' until you go cold turkey from the 300 million that buy your stuff and stand on your own, without needing that entity you wish to fail. Everyone wanted a weaker America, and they are getting it. So why is everyone surprised?. Did they think a weak America would leave them untouched? Surprise! It should teach one to be careful for what they wish for. Like Obama says... every crisis is an opportunity., So while the giant is down, detach, Let go of the 300 million straws that restrain you from being truely superior. Build new infrastructure on your coasts and be free. Trade wtih the rest of the world and pay more for that priveldge of being free. Only then will you truly be free and 'superior'.
  308. J C from Canada writes: I am having a great time reading the comments from the Americans on this thread. Mary Smith, teddy bear and the Hawaiian whose name I don't care to pronounce: every time I read one of your comments I smile as I imagine the song 'Blame Canada' from the South Park movie playing in the background.

    The part that amuses me most is this: Canadians, and the rest of the world actually, have been listening for decades about how great the grand old USA is, but now that an article has been written about how one country may be better in one area, it's straight to the defensive. What's more, you are openly trying to degrade Canada and Canadians for displaying the sort of national pride that oozes out of your every pore. (pssssstt...this is why nobody likes you)

    I am a dual citizen and have spent a lot of time in the United States so I can say to the rest of you Canadians on here who are frustrated with the comments of a select few Americans: don't worry, Americans are actually pretty nice people, don't let these outliers sour your taste of all yanks.
  309. Arec Bardwin from Canada writes: C R from Canada writes: Harper wanted to deregulate. It's unfortunate that it takes such an economic crash to illuminate the dangers with this guy.

    _________________________________________________________

    Wow, awesome lie. I suppose you have proof? Oh now its just how you feel.

    Harper has been prime Minister since 2006. If he wanted to deregulate, as you claim, then there should be some evidence of that.
    Say a comment, or a bill, or some kind of proof, you know, anything.
    Unfourtunately for crazies like you proof is not needed. All you have to do is make outrageous claims. I bet you actualy believe it too.
    Which is pretty pathetic.
  310. Brian Pelican from denver, United States writes: And any country that has a widely read newspaper that refers to 'envy' of itself instigates a shake the head, puke, etc reaction
  311. Joe Citizen from EVERYTOWN, Canada writes: .... NO THANKS TO HARPER

    IF STEPHEN HARPER HAD HAD HIS WAY CANADIAN BANKS WOULD HAVE BEEN DEREGULATED AND WE WOULD HAVE ENDED UP IN THE SAME MESS AS THE U.S..

    HARPER WAS TRYING TO GAIN ENTRY FOR AIG INTO THE CANADIAN HOUSING MORTGAGE MARKET. AIG WAS ONE OF THE PRIME PLAYERS IN THE SUBPRIME CRISIS IN THE STATES.

    DO YOU REMEMBER WHEN HARPER INTRODUCED THE 40 YEAR MORTGAGE ?

    HARPER HAS THE WORST ECONOMIC RECORD OF ANY PRIME MINISTER IN THE PAST 40 YEARS .... YET HE, SUPPOSEDLY HOLDS AN M.B.A..

    WOULD SOMEONE KNOWLEDGABLE IN ECONOMIC MATTERS APPOINT SUCH A COMPLETE INCOMPETENT SUCH AS JIM FLAHERTY TO THE POSITION OF MINISTER OF FINANACE ? ? ?

    HARPER IS DESTROYING CANADA.
  312. Larry Hill from Canada writes: George Spelios from Australia writes: Larry Hill, thanks for the info. I'm glad the Canadian Authorities did their job. I was wondering if the same applies to the Americans. I understand that most of Eastern European(ex Soviet Union) countries are in financial trouble. They are unable to pay back their bank loans. Any Canadian banks have loans in these countries? _______________________________________________________ George, I think that Erin has answered this pretty well. If there is a Canadian organization that would have any exposure to East European loans it would likely be the export development corporation. This arm of the Canadian government has the mandidate to expediate exports to all foreign countries. The Canadian chartered banks do not have much exposure to this market. The risk areas for most of the charters are their US subsidiaries. The TD, Royal and Bank of Montreal have been on slow but steady aquisiton of US banks. The TD is mostly in the NE corner of the US, Bank of Montreal has Harris Bank in Chicago and the Royal has picked off targets with no real geographic pattern. The Bank of Nova Scotia by contrast has focused on Latin America and the Bahamas, Barbados etc. When this economic mess hit and some major US banks were teetering, the US government invited Canadian banks to take a larger American presence by aquiring shaky banks. As far as the public knows, this opportunity was declined by the charters. Clark made a name for himself in Canada by stating that the TD had no money invested in sub-prime loans because 'they did not understand' the rationale. Mr. Clark forgot to check his US subsidiaries who did have a substantial stake in this market. The numbers I am seeing are that 40% roughly of US mortgages are 'sub-prime'. In Canada this number is closer to 4%. I am not saying that we will escape unscathed in this global recession but we are certainly less exposed than the US banks.
  313. Brian Pelican from Denver, United States writes: Larry, please give a link to the 40% sub-prime mortagages. This defies logic as the average FICO rate (credit worthiness) for Americans is in the 600s. You would never get a rating any where near that high if you had to resort to a sub-prime mortgage.
  314. Jane Rowdy from Pluto, Canada writes: Joe Citizen from EVERYTOWN, Canada writes: .... NO THANKS TO HARPER

    IF STEPHEN HARPER HAD HAD HIS WAY CANADIAN BANKS WOULD HAVE BEEN DEREGULATED AND WE WOULD HAVE ENDED UP IN THE SAME MESS AS THE U.S..

    HARPER WAS TRYING TO GAIN ENTRY FOR AIG INTO THE CANADIAN HOUSING MORTGAGE MARKET. AIG WAS ONE OF THE PRIME PLAYERS IN THE SUBPRIME CRISIS IN THE STATES.

    DO YOU REMEMBER WHEN HARPER INTRODUCED THE 40 YEAR MORTGAGE ?

    One still had to qualify in Canada to get a 40 year mortgage
    and the mortgage amounts included high-ratio insurance premiums
    the 40 year just spread out the principal over an extended period to lower monthly payments - this gave qualified buyers a foot in the door to purchase homes Everyone I know that took a 40 year out plans to switch to a 25 or 30 on their renewal. Many of the young people I work with were just out of University and it was only their 3 or 4 year working and they took advantage of this to get a house.

    If you made $20 an hour you still would not qualify for a $200,000.00 home no matter how good your credit- you still needed to prove your ability to repay.
  315. Raymond P from Canada writes: I hate good news, optimism, feel good stories and other forms of positive news media reporting. Please stick to reporting crimes, bankruptcies, layoffs, deficit and debt, corruption, excessive spending by politicians and Senators, car accidents, fires, falling oil prices, inflation and all the other things we expect from a respectable newspaper. And please never miss a day without an article pertaining to terrorism, terrorists, beheadings, kidnappings and bombings. Why get out of bed if there's good news afoot. Pessimism, like complaining about the weather year round, makes us true Canadians.
  316. kevin clarke from Canada writes: I don' t believe a word about our banks. We have been lied to by everybody every day for the last 2 years about the financial tsunami. I believe the Canadian banks are in as much trouble as the banks world wide. They are out and out lying.
  317. Thinkingman FromCanada from Canada writes: I think that K.C. from Canada is exactly right. The truth in Canada has been slowly dribbling out, in spite of the puzzling denial of so many Canadians?
  318. Brian Pelican from denver, United States writes: teddy bear, my thoughts as well. There are only about 6 main banks in Canada and they have pretty much monopolized the market resulting in the cost of banking to Canadians far higher than here. No wonder the are all relatively unscaved.
  319. Chris Snoyer from Halifax, Canada writes: unscathed*

    ;-)
  320. John Q from Canada writes: So, Canada's banks are well regulated, the bankers are cautious and modest, and the international community recognizes these traits. Yet, 'analysts' fears and worries about this and that have driven down bank stock values.

    Aren't analysts supposed to analyse, rather than just wring their hands and say the sky is falling? See Cramer vs Stewart to read CNBC's main snake oil salesman's admittion that he hadn't been giving much thought to his stock picks. He may be the worst example, but the high priced 'analysts' on Bay and Wall Streets are no better if all they can come up with are concerns and worries when clients are paying for sound analysis and balanced perspective.
  321. Harold K. from Canada writes: I have to mostly agree with John Q and Brian Pelican.
    The headline is misleading... is it doubtful whether Canada is that far ahead of the game. I am guessing that the dynamic system in the U.S. will ensure it is the first country out of the recession. Canada's recovery will tag along afterward, but sluggishly (unless oil and gas prices go up dramatically and stay there, which is unlikely in the short term).

    Also, since when is what is good for RBC, TD-CT, CIBC, etc is DIRECTLY good for Canadians?

    It is good for those people who work for them, I suppose.

    Cheers.
  322. Larry Hill from Canada writes: Brian Pelican from Denver, United States writes: Larry, please give a link to the 40% sub-prime mortagages. This defies logic as the average FICO rate (credit worthiness) for Americans is in the 600s. You would never get a rating any where near that high if you had to resort to a sub-prime mortgage _______________________________________________________ Good question, Brian. The estimate is from our internal economics department. Therefore I would not expect you to rely on it. If I have your banking procedures down correctly, I think what you are saying is slightly back wards. If you have a FICO of 620 or above, I understand that you would qualify for a regular (or 'prime 'mortgage). And if you qualified for that you would not obviously consciously pay a higher rate for a sub-prime mortgage. The points are though that there are the NIJA loans which were outright fraud, there were the Alt-A loans that were basically missing documentation (mostly income verification because the applicants are self employed) and the true sub-prime mortgages. At one stage in 2006 subprime comprised 1/3 of all new mortgage applications. Now the problem is that there are several other factors at work to bump regular prime mortgages to the sub-prime classification. The adjustable rate mortgages are now being repriced to higher rates. This is similar to having a 'balloon payment' on your car i.e. a lump sum due at the end of your contract. Some mortgage holders cannot afford the payment. They are falling further behind. There is also a severely depressed markets in some parts of the US. This makes some home owners in the situation of owing more than their house is worth. Both situations would move normal prime mortgages to sub-prime catagories. Now sub-prime does not mean that the home owner will not make the payments, just that the mortgage is not of top lending quality.
  323. Larry Hill from Canada writes: Sorry Brian, I ran out of room.

    Try this. If anything it might be a bit conservative due to its date.

    http://www.kansascityfed.org/Publicat/ECONREV/PDF/4q07Edmiston.pdf

    Your Fed reserve bank also has some very good maps on current stats. Unfortunately it is hard to get to the exact stat that you and I are discussing.
  324. J M M from Canada writes: China needs Canada's energy products and India's needs are just starting..Canada is in a sound position. Of course Canada will hurt to an extent but will stay afloat.
  325. Brian Pelican from denver, United States writes: Thanks Larry for your comments. Your understanding about my comments on FICO are correct. I understand that some people who qualified for a regular mortagages got adjustible ones because they thought they woud flip the property before the sweetheart deal ended. And they may now have trouble funding at the higher rate and perhaps the property is not worth the amount of the mortgage. But I would not call that a sub-prime mortgage. It may, however, be a mortgage that is going to get into trouble because it is upside down. I think it is quite misleading to indicate that 40% of US mortgages are sub-prime - that is a hell of a lot of mortagages. I think the foreclosure rate is around 10%
  326. Brian Pelican from denver, United States writes: JMM - as I explained to someone yesterday, Canada produces about 3.4M barrels of oil a day and consumes about 2.4M barrels a day. It imports about 1.2M and exports about 2.2M. Its net export are therefore only 1.0M barrels. Canada is not a major net exporter of oil as some Canadians seem to think (the world consumption of oil is about 87M barrels a day).
  327. dennis cape from United States writes:

    I've never seen an article dragged out of the archives and get bumped back up into the "Most Viewed" list on the homepage like this article.

    It also managed to stay on the top of the Most Viewed list for longer than I 've ever seen an article on G&M>

    Is it because Canadians are agog at their banks and how they are the "envy of the world"?

    Mind-splattering.
  328. The Last Honest Conservative from Western, Canada writes:
    Here is what FOX NEWS and American conservatives think of Harper's army on the day that 4 Canadian soldiers are killed:

    http://videocafe.crooksandliars.com/scarce/how-lose-friends-and-alienate-countries
  329. John McEnroe from Toronto, Canada writes: To Summom Bonum: That is true, but that is the difference between the Liberals and the Tories (or should I say Reform party lite, while still in minority), the Liberals will actually take public opinion into consideration. They actually try to weigh right AND left issues to find a balance in legislation. The current neo Conservatives will shove their medicine down the public throat even if two thirds of Canadians vote centre left. In some countries, that would be called dictatorship/ruling by the elite class, because they don't represent the general population's views.
  330. Brian Pelican from Denver, United States writes: The Last Honest Conservative from Western, Canada writes: Here is what FOX NEWS and American conservatives think of Harper's army on the day that 4 Canadian soldiers are killed: \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ Oh, pah-leez! Did Canadian commentators and those on these boards stop bashing the US every time the US lost any combatants? The link you provided was to a comedy show not a newscast.
  331. Steve Ridley from Trawna, Canada writes:
    B D from Canada writes: ''It's not about looking for any excuse to make our selves look better. We have to talk about our selves for the sake of national identity, because most American's do not have a clue what we represent....'

    Head out of the sand, BD from Canada

    These statistics say a lot about "what we (Canadians) represent"

    Nobel Prizes in Literature
    US 24
    Canada 0

    GDP of California vs Canada

    California, 33 million people, GDP $US 1.85 trillion
    Canada, 33 million people, GDP $US 950 billion

    Q: Why are Californians twice as productive as Canadians?

    A. Maybe its the medical marijuana (!)
  332. G D from Canada writes: It's not Harper's army, it's Her Majesty's.
  333. Steve Ridley from TRAWNA, Canada writes: MESSAGE TO postal one from Canada writes: 'canadians are content with mediocrity canadians will look for any excuse, no matter how pitiful, to assert their superiority to americans'

    Do we have to come down there and whack you over the head with it?
    Canada has:
    1) A sound and prosperous banking system

    Then why are Canadian financial stocks tumbling so fast? Why is international investment so low in Canada?

    2) A working healthcare system........

    The healthcare system in Canada is ranked the 38th best in the world by the World Health Organization (2007 statistics, on 45 parameters).

    If you want to appreciate in a REALLY GOOD healthcare system move to FRANCE!.

    need I go on and on and on and on?
  334. Joe Citizen from EVERYTOWN, Canada writes: .... A NEAR MISS

    NO THANKS TO STEPHEN HARPER.

    IF THIS ANTI-REGULATION, RECKLESS FREE-MARKET IDEOLOGUE HADF HAD HIS WAY ..... OUR BANKS WOULD HAVE BEEN DEREGULATED ..... AIG WOULD OF BEEN OFFERING SUB-PRIME MORTGAGES ..... AND WE WOULD BE IN EXACTLY THE SAME BOWL OF SOUP AS THE U.S..

    WE DODGED A BULLET ON THIS ONE.
  335. Brian Pelican from Denver, United States writes: The Last Honest Conservative from Western, Canada writes: Is this why American conservatives are so bitter ? On a day when 4 Canadian soldiers die, Fox News mocks them: \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ You are not as honest as you claim: you misstate for effect the fact that the satire show was on the day 4 Canadians died (the show was on March 17 several days before. Liar.
  336. D Roberts from Canada writes: Joe. The difference is, the U.S. mortgage system was run by government institutions, Fannie and Freddie. It was government regulation initiated by Jimmy Carter and increased by Clinton and Bush - to get those who couldn't afford homes to buy homes. It was government regulation and government policy that caused this. Well meaning, but misguided as we've witnessed.

    In Canada, we had some free market principles at play, and a lack of government interference.
  337. Jim Hilsenteger from Calgary, Canada writes: Dear Fellow Canadians: Lets not spend too much time patting ourselves on the back. We are not in the same sorry mess as the US or the UK but if this financial crisis is not resolved, we will be in the same sorry mess. We need to think globally and do our part to fix the credit crisis. It does not matter where it started, it is here now. We will likely need to run large deficits to encourage demand until the private sector comes back. Not doing our part increases the odds of high unemployment levels, instability and potential wars. This is a world crisis, we just happen to be more fortunate than others right now...however, our situation could change quickly.
  338. Brian Pelican from United States writes: D Roberts - a fair assessment.
  339. Norm Harder from Qualicum Beach, Canada writes: Envy? Here I am in the US (snowbirding) and spending my Cdn. pension dollars have to spend anywhere from 1.25-1.30 Cdn for a US buck! Isn't the US supposed to have had the greatest economic problems ie AIG, banks galore, manufacturing, deficit beyond their eyeballs, and a national debt about as bad....when Iceland's economy hit the skids, our dollar did well against theirs....how come it doesn't work with the US?

    Sheesh!
  340. The Last Honest Conservative from Western, Canada writes:
    Is this why American conservatives are so bitter ?

    On a day when 4 Canadian soldiers die, Fox News mocks them:

    http://www.youtube.com/watch?v=tcJn5XlbSFk
  341. Norm Harder from Qualicum Beach, Canada writes: addendum to summom bonehead....

    Has any political party ever put Cdn interests above their own political interests? (Besides the NDP I mean)

    Sheesh!
  342. George George from Canada writes: 'Everything is broken' --Bob Dylan
  343. Crusty Curmudgeon from Ottawa, Canada writes:
    Norm --- I can actually see why you would make that commnet about the NDP .... however ...

    They put the interests of their own constituents (which are unions and the poor) ahead of everything. One could say that they do this to bolster support for themselves.

    The unions and poor are not "all Canadians" -- not by a long shot.

    Do not be fooled -- NDPers (just like other politicians) have their own self interests at heart -- they are more passionate about their constituents than are the other parties -- that I WILL give you. So, in a sense, they are most honest -- but I will not say that they are honest beyond reproach.
  344. summom bonum from Canada writes: Wow. The Liberal war room is badly trying to spin this one!

    The Liberals sent up more trial balloons about bank mergers than you see Obambi on TV.

    The howls of outrage from Canadians stopped the bank mergers. NOTHING else.

    You will NEVER find an instance where the LIberal Party put Canadian's interests ahead of their own. NEVER.
  345. Al Bore from Canada writes:
    Why is this article still around?

    Our banks had to be assisted with government loans.
  346. teddy bear from Any City, United States writes:
    haha... the G&M has a policy of archiving their articles seven days after publication...

    well that's what happened here except the bozos at the G&M decided that they didn't want to bury their glowing tribute to the canadian banking system after all!
  347. dennis cape from United States writes:
    Three weeks on the top of the "Most Viewed" list of G&M....and counting.
  348. Brian Pelican from Denver, United States writes: The headline about envy is definitely cringeworthy. I shouldn't imagine any mature person or nation would put out a statement that they are the envy of the world - even if they believed it.
  349. Rudy Krueger from Canada writes: Pelican is right - though this sort of chest-thumping is common everywhere. "We are ready to lead again..." said Obama on a few occasions. We all get caught up in the moment on occasion.

    What is the big mystery is how this stale article showed up again 15 days after it aired the first time.

    Filler anybody?
  350. Steve Ridley from TRAWNA, Canada writes:
    Canadian banking the envy of the world?

    My gawd give me a break.

    Then why isn't the Canadian dollar the currency of the world?

    My gawd what a joke!

    In the 148 countries I've been to, three-quarters of them haven't ever seen a Canadian dollar and don't even recognize what a Canadian dollar looks like or is!

    In the 148 countries I've been in I have NEVER EVER met anyone who DIDN't recognize the $US dollar and would happily exchange it pronto for local goods and services.

    Wakey wakey Cana-duh!
  351. dennis cape from United States writes:

    Mind-Spattering!!!
  352. Larry Les from Chilliwack, Canada writes: Pride often comes before a fall. As a residential real estate developer, a concern I have is all the under 5 year terms we have in Canada, and that I see our clients taking on with no apparent concern. If we see an inflationary / high interest rate economy as an outcome of all the "qantitative easing" going on around the globe (such a scenario would seem to be supported by a large cohort of economists today), surely this will have dire consequences in Canada. Our American friends will then have their turn to be mystified by our cavalier Canadian attitude to financing 40 year mortgages with terms of 5 years or less.
  353. Steve Ridley from TRAWNA, Canada writes:
    URGENT MESSAGE TO:

    Dave C from Canada who wrote: Canada's 'national' identity:

    Hockey
    Tim Horton's
    Our Banks

    [Posted 06/03/09 at 9:48 PM EDT | Alert an Editor | Link to Comment]

    ----

    After travelling extensively in the world for the last 40 years I would have to comment on:

    Canada's 'International' Identity -

    The poorest tippers in the world
    The home of the most bizarre, sick and violent crimes from 'Homolka' to 'the bus beheading on the prairies'
    The tail on the AMerican dog

    In a recent poll of several hundred UK citizens selected at random - when asked "What do you think of first when you think of Canada" 8 out of 10 answered "Nothing"

    Not hockey, not ice and snow, not Tim Hortons, just "Nothing"

    To me it is ABSOLUTELY STUNNING how Canadians perceive themselves domestically, in stark contrast to how the people of the world view Canadians (!)
  354. The Last Word from Central Canada from wangeler, Canada writes: I'm amazed at how often the word CONSERVATIVE appears in this article. Could this all be because of Conservatives like Brian Mulroney and the Honorable Prime Minister Stephen Harper??? Let's not forget that Mr Mulroney is the one who provided Canada with the BIGGEST MONEY MAKER ever, in the history of mankind, the GST which the Liberals hated with a passion...until THEY got into power, then they love it with a passion and then they used the money to make themselves look like the heroes....which they were NOT!!!
  355. Brian Pelican from Denver, United States writes: Steve, interesting post. We have friends in Tampa who have a son at college who waits tables for extra money. We understand that he is always dismayed when a Canadian credit card comes out at the end of the meal -he knows he is going to get shafted for a tip. I understand that he feels he gets lucky if he ends up with 10%. Do Canadians still think that 10% is the norm for excellent service? He says Americans typically tip 15-20% and Europeans 10-15%.

    Yesterday, while Canadians were railing about how the US economy was headed for the trashpile as they have done for the past 6 months or more, the news came out that Canada's 1Q GNP was expected to contract by 8.6% and by 3.5% in the 2Q, and that jobless numbers would rise by 385,000 in the 1st half. I pointed this out to posters in mid-rant and indicated that I was pleased to witness this comeuppance. Well, you would have thought that I had called their mothers "ladies of the night". As I have long seen, Canadians, especially when dealing with the US, sure know how to dish it out but don't have any capacity to take it. Sad, as I am a Canadian as well as an American.
  356. Ray Crawford from Toronto, Canada writes: Canada might have sound banks, but Americans know how to party especially with other people's money.
  357. Brian Pelican from Denver, United States writes: Ray, oh, how baaaaaaad they are and how great we are. Oh Canada's wonderful!! Oh, we love ourselves!! Stops any inward looking - just focus on how bad America is and how they have f*cked us over. No, we had no involvement in any bad news affecting our economy. Of course when times were good, with American buying up all those Canadian goods - weren't we great and weren't Americans so profligate. Now they are not buying our stuff, they are baaaaad. It's little wonder that Canada is so mediocre - never an inward look.
  358. Steve Ridley from TRAWNA, Canada writes: TO Brian Pelican from Denver, United States writes:

    Good stuff Brian - I am a dual citizen as well - I think this gives us a much more comprehensive and integrated perspective of what exactly the hell is happening in Canada, the USA, and the world - best wishes
  359. Frank Killoran from Vancouver, Canada writes: Brian, I agree that Canada's unemployment situation is as bad as the U.S., with an almost identical 5% annualized pace during the past 6 months. Auto sales, housing and general retail spending is also very similar. We're somewhat lucky in that our banks have had higher reserve requirements than anywhere else in the world, but that's about it. Almost all of our banks (and large quasi-banks- see manulife) have been damaged by the subprime market and similar U.s. exposure. And has anybody asked why our banks have been to the equity market trough so many times diring the past 6 months, raising many billions in additional (and very expensive)common and preferred equity? Because we lost billions on these same mortgage instruments, that's why. We have historically had an even greater reliance upon auto production than the States and that is a big problem at the moment. Prior to last year's plunge, sales of autos and parts accounted for over 2% of our GDP, double that of the U.S. It now stands at 1.2%. Auto and parts exports have averaged 23% of our total exports for tha past 25 years- they were 9.2% in January. probably worse is our dependence upon commodities and where they stand now. Most measures stand at 1/2 of last year's peaks. Even using Canadian dollar levels, prices are down 25% from the first 1/2 of last year and back to levels prevailing in 2004. Non-auto shipments in January were down 20% from last year's levels. Housing starts here have plunged 35% since October and the effects on construction are just starting to be felt.
  360. Yvonne Wackernagel from Woodville, Canada writes: If the banks are in such good shape, how come they can only pay 0.5% on a $100,000 GIC for a year? ALL THE BIG BANKS. Even on much larger amounts like $10,000,000 (told to me personally last Friday from one of their head office investors) AND HOW COME, as reported on TV, they want to charge 10% to secure the cars as collateral which people are being encouraged to purchase?

    Check out the GIC rates on Google; see for yourself.
  361. Brian Pelican from Denver, United States writes: Frank Killoran, I am a little tired about Canadian persecution complexes. If some thing goes wrong, it always someone else's fault. Are you saying that Canadian bank's should be protected from themselves. They bought the f*cking financial instruments in the expectation of making a bundle- don't they have any sophisticated money managers? When the hell are Canadians going to grow up and behave like adults. If I buy a bag investment, I screwed up and I don't have expensive suits running around who are supposed to be looking after that.
  362. R Cameron from North of the 49th, Canada writes: Good article.
    People claiming the US is in a depression should actually compare the facts.
    Depression era unemployment 25% - current unemployment /- 8%
    Depression era GDP contraction 30% - current contaction 6.3%
    Depression era Gov't response, contract money supply dramatically - current Gov't response, dramatically expand money supply
    Depression era trade policy, wildly protectionist - current policy, trade agreements being honoured
    Depression era banking - no deposit insurance - currently increased deposit insurance.
    Depression era bank failures, hundreds - current # of US bank failures 40 on the way to 100 (perhaps)
    The facts indicate that the US is miles and miles from a depression.
    No chicken little - the sky isn't falling ........
  363. John Stanton from Calgary, Canada writes: "Canada envy, amid a global meltdown" reworded: "Canada's banks create an illusion of invulnerability"
  364. Doctor Demento from Canada writes: It must really annoy Pelican that the World Economic Forum ranks Canada's banks as the best in the world and that American banks (many of which have failed or are near to failure) are far behind.

    Mind you, I don't see Pelican complaining that this Forum which is favourable to Canada is hidden in an obscure part of the web site . . .
  365. Brian Pelican from Denver, United States writes: Its's not anoyance at all. I just think to call yourself or your nation or your banks or anything about yourself as the "envy of the world" is rather cringeworthy. I don't see that a mature nation or person would want this. Simple as that. The G & M have kept this one around for weeks even thought posts have decreased to a trickle so clearly they like it. Before you clap your hands to your back too much, Canadians have been paying for the gouging six for many years and will be for years to come.
  366. Doctor Demento from Canada writes: Brian Pelican from Denver, United States writes "Canadians have been paying for the gouging six for many years and will be for years to come."

    Americans are and will be paying far more for their disaster of a banking system - and for a LOT longer time . . .
  367. Brian Pelican from Denver, United States writes: Americans are and will be paying far more for their disaster of a banking system - and for a LOT longer time . . .

    ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]

    That depends on whether the government recovers its investment or not. Of course, you will say it is lost. But that is to be expected. from you - no surprise there. Wells Fargo, for instance, which received a bailout of $25B, is already back to trading at its share price when it received bailout funds. Government is already at par. No doubt you will come up with why Wells Fargo, for instance, a pretty well run bank which is currently posting good earnings, will fail. Well, let's wait and see the outcome of that and also the outcome for the Canadian economy when all those jobs fall off the table in the first half that are forecast to do so. In a couple of months, I predict you will be nowhere to be seen. We'll see.
  368. Jim Maxwell from Canada writes: They re very good at offering great advertising and mediocre advise.
  369. Doctor Demento from Canada writes: Brian Pelican from Denver, United States writes "In a couple of months, I predict you will be nowhere to be seen. We'll see."

    Oh I'll still be here. What surprises me is that you have the gall to continue your non-stop cheerleading of the American economy, which for all intents and purposes has been flushed down the drain - I'm waiting for you to cry uncle . . .
  370. Doctor Demento from Canada writes: And Pelican - I'll remind you once again that it has been US banks, mortgage, insurance and financial companies that have been failing on a regular basis over the past year or so. Not a single Canadian institution has failed or required government assistance. No wonder Americans and others are envious of us . . .
  371. Brian Pelican from Denver, United States writes: Dem-Mento, my boy, I have no doubt at all that you will be around - but the question is what will you do with stories about the cratering Canadian economy - I expect you will avoid those altogether - although you might spend some energy blaming the US. This is why the Canadian economy is mediocre - blaming the next guy for all your problems leads right to that place. I think taking a ood hard look at how you might have contributed to any problem is not in your DNA. Canadian job losses this year are more than 75% higher than the US (200,000 in 2 months), the equivalent of 2 million jobs on the US scale, versus 1.2 M for the US in the same period. So, my dear Dem-Mento, you are whistling past the cemetery. No, Americans are not envious of Canada, Canada does not even come up in any conversations about other countries - Europe and Asis do. As another Candain has observed earlier in this thread "In a recent poll of several hundred UK citizens selected at random - when asked "What do you think of first when you think of Canada" 8 out of 10 answered "Nothing" Not hockey, not ice and snow, not Tim Hortons, just "Nothing" To me it is ABSOLUTELY STUNNING how Canadians perceive themselves domestically, in stark contrast to how the people of the world view Canadians" i think that says it all, no matter what our Dem-Mento likes to imagine.
  372. Jasper the Black Lab from Canada writes: I put mostly Canadian bank stocks into my RRSP this year.
  373. Brian Pelican from Denver, United States writes: Jasper, I'll say you have a lot of guts
  374. Doctor Demento from Canada writes: Pelican - why don't you just give it up. You are making a fool of yourself. We all know that the American economy is in tatters as a result of years of inane economic policies including 32 years of consecutive escalating trade deficits. Everyone knows that it is American institutions, many of them the largest in your country, that are failing. I predicted it and you are ticked off. Why don't you go on a tour of the Coors plant in Golden. I've done it a few times and it is interesting plus you get to drink some free beer at the end . . .
  375. Brian Pelican from Denver, United States writes: Dem-Mento, you are sounding a little desperate. Not ticked off here but you sound so. No, my dear Dem-Mento, as the stats I quoted earlier show, the Canadian economy is going down big time whereas the US economy is leveling out. Canadian jobless rate this year 75% higher than the US jobless rate - talk yourself out of that one if you can. Haha. Poor Dem-Mento, backed into a corner by the Stats. You don't like stats do you, like free form BS.
  376. Brian Pelican from Denver, United States writes: Contrary to what you say, Dem-mento, the crowd today at Vail are not suffering like you imagine. No sign of stress. Too bad, so sad
  377. Doctor Demento from Canada writes: Brian Pelican from Denver, United States writes "the Canadian economy is going down big time whereas the US economy is leveling out."

    You wish - unemployment in here in socialist Manitoba (where we have enough foresight to invest in protecting our infrastucture and citizens from natural disasters) was just 4.8% last month. I see that it has reached 7.2% in bustling capitalist Colorado.

    Yes I do like my statistics Pelican - keep on playing the fool - you wear it well . . .
  378. Brian Pelican from Denver, United States writes: Oh, dear. Dem-Mento is again raising unemployment stats for Manitoba. Why the hell, I don't know. Who cares? What a backwater! Tells us something about small-minded Dem-Mento. Enjoy Manitoba, Dem-Mento, I will continue to enjoy a hell of a more sophisticated lifestyle here in Colorado. What a idiot to think that raising the province of Manitoba with a population of about 1 million is respresentitive of anything.
  379. Doctor Demento from Canada writes: Pelican - I guess I hit a raw nerve. Why don't you try to explain how a tiny backwater like Manitoba can have a better economic climate than a sophisticated capitalist paradise like Colorado - maybe there are too many slack-a$$ American deadbeats like you skiboarding at Vail.

    I see they have erected a monstrosity of a blue mustang outside the white elephant of a new Denver International Airport airport (in the middle of nowhere) that was built on the basis of political corruption in the late '90s when Stapleton was far closer to the city and could have easily been upgraded - but then again that is the American way that you so admire . . .
  380. Doctor Demento from Canada writes: 2008 population of the City and County of Denver: 598,707
    2008 population of Metropolitan Winnipeg: 719,200
  381. Brian Pelican from Denver, United States writes: Dem-Mento you are really trying soooo hard. No raw nerve here - I think the raw nerve was yours - imagine raising the province of Manitoba as representative of anything much. I mean it's representative of growing wheat - pretty recession proof but hardly cutting edge or exciting. So, your 4.8% unemployment rate means Manitobans are continuing to grow wheat - wow!! Your knowledge of Denver is skim-ice thin. Stapeleton had no room for new runways - crowded out by residential neighborhood. Oh, and that's cute - pretending that Winnipeg is bigger than Denver. You quote Winnipeg's size by metro and Denver's by the city. Are you really that devious? The population of Denver metro is just short of 3 million - over 5 times the size of Winnipeg. By the way, I ski - I don't ski-board. Vail was crowded out with upscale residents and visitors this weekend. What was going on in Winnipeg this weekend - a farmer's market? Go away and play marbles.
  382. Brian Pelican from Denver, United States writes: Make that Denver metro is 4 times the size of Winnepeg metro. I wonder how many international tourists visit Manitoba. I heard German, French, Japanese, British and South African accents, and others I couldn't identify at Vail this weekend. How many diffferent accents did you hear at the farmer's market??
  383. Doctor Demento from Canada writes: Brian Pelican from Denver, United States writes "imagine raising the province of Manitoba as representative of anything much. I mean it's representative of growing wheat - pretty recession proof but hardly cutting edge or exciting."

    Pelican you are so ignorant that it is actually hilarious. Manitoba and Winnipeg have one of the most diversified economies on the planet which is why our unemployment rate is so much lower than Colorado's.

    Two of the biggest bus manufacturers in North America (New Flyer and MCI), Investors Group, Great West Life Insurance, Pallister Furniture, Pollard Banknote, Canwest Global, Standard Aero, Boeing, Bristol Aerospace - you really a clueless dufus . . .
  384. Brian Pelican from Denver, United States writes: Yeah, right - in your mind. "Agriculture is vital to Manitoba's economy and is only found only in the southern half of the province, although there is some grain farming found as far north as The Pas. The most common type of farm found in rural areas is cattle farming (34.6%),[8] followed by other grains (19.0%)[8] and oilseed (7.9%).[8] Manitoba is the nation's largest producer of sunflower seed and dry beans;[9] and one of the leading potato producers. Altona is the "sunflower capital of Canada". Around 12% of Canadian farmland is in Manitoba.[10]

    Portage la Prairie is the North American potato processing capital. It is also home to the McCain Foods and Simplot potato processing plants, which provide french fries for McDonald's, Wendy's, and various other commercialized restaurant chains. Can-Oat milling, one of the largest oat mills in the world, is also located in the municipality"

    Haha
  385. Doctor Demento from Canada writes: Pelican - are you really that "slow" that you have to copy a wikipedia entry regarding Manitoba's agriculture, which while making up a small portion of our economy, is hardly our only source of wealth. There is considerable agriculture in Colorado too. Try researching what percentage of Manitoba's GDP agriculture makes up.

    Did I mention that Manitoba also produces nickel, copper and zinc and has the largest cesium mine in North America?

    Oh yeah our unemployment rate is 4.8% and Colorado's is 7.2% . . .
  386. Brian Pelican from Denver, United States writes: Yeah, and all of the "other" industries are cutting edge. I certainly don't include digging mineral that lie beneath the surface cutting edge. Go play with your marbles. Find some other neighborhood kids to play with.
  387. Doctor Demento from Canada writes: Pelican - you really are a piece of work. I personally work as an engineering manager in a high tech field. The Federal virology lab - one of a handful of Level 4 labs on Earth (capable of handling the Ebola virus) is in downtown Winnipeg.

    New Flyer Industries is a 78 year old company headquartered in Winnipeg. It is the largest transit bus manufacturer in North America with 42% of the market share and supplying 80% on New US transit bus orders. Denver uses New Flyer transit buses.

    http://tinyurl.com/dgqqev

    What exactly are the "cutting edge" industries in Colorado? And remember I have had inside tours of Cheyenne Mountain and the Colorado Springs AFB more than once - Coors is good beer though . . .
  388. Brian Pelican from Denver, United States writes: No Coors is not good beer - I don't think you are very discriminating. I prefer the multidude of microbrews. I had a good laugh over the statscan analysis of manitoba GDP - $38B, wow, major player in Canada. Probably our county in Colorado has a higher GDP
    .http://cansim2.statcan.gc.ca/cgi-win/cnsmcgi.pgm
  389. Doctor Demento from Canada writes: Apparently the Denver Broncos represent cutting edge businesses in Colorado. Nice theater in Creede though. I was very impressed with the 150 year old technology in Creede/ South Fork . . .
  390. Brian Pelican from Denver, United States writes: Two examples of many cutting edge Colorado industries:

    http://www.case-europe.com/stateindustries/stateindustry/AerospaceColorado,138.aspx \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\

    http://www.case-europe.com/stateindustries/stateindustry/LifeScienceBiotechHealthCareColorado,139.aspx
  391. Doctor Demento from Canada writes: As you stated Manitoba is blessed with having a population of 1.2 million in a land area bigger than the combined Germany, much of it pristine wilderness - you will never know . . .

    Oh and agriculture makes up a WHOPPING 4% of Manitoba's GDP:
    http://tinyurl.com/ckfdv3.
  392. Brian Pelican from Denver, United States writes: Dem-mento, I said nothing lof the kind - typical for you, making things up. Manitoba is a backwater by the standard of anyone who has travelled the world
  393. jack squat from Canada writes: Hey pellican make your silly comments to US papers. You seem to think that it is necessary that we hear your voice but no one here cares.
  394. Doctor Demento from Canada writes: Brian Pelican from Denver, United States writes: "Manitoba is a backwater by the standard of anyone who has travelled the world" You have never been to Manitoba - how would you know? According to your logic the many thousands of towns and cities across the US that are smaller than Winnipeg, like Salt Lake City, Oklahoma City, Boise, Rapid City, Santa Fe, Bakersfield, Jacksonville, Rochester, Binghampton etc. etc. must be backwater slums with nothing of benefit to add to the US economy. I notice you had negative comments about mining in Manitoba, forgetting perhaps that Colorado is one of the main mining areas in the US, both historically and at present. The US Bureau of Mines Research Centre was located in Denver until it closed in 1995 (a place I have fond memories of) and the Colorado School of Mines in Golden is one of the leading mining engineering scools in the US. I recommend a summer trip through the historical Creede mining area (mainly silver mines). It is pretty amazing. Google it. In any event I see that you have diverted the thread from the main topic which is that a prominent international financial organization has recognized that Canada's banking system is the best in the world - something that obviously irritates you since you seem incapable of recognizing anything worthwhile about Canada at all . . .
  395. jack squat from Canada writes: Doctor .... Pelican is some paid hack from the bush leftovers. Either that or he is unemployed because he spends all day on this site. I think he used to be called "lection fever" .
  396. Brian Pelican from Denver, United States writes: What are you doing on this site then - doing squat else? Wow, when we are talking how much of a backwater Manitoba is, it somehow has a connection to Bush? No, I am actually in a fairly high-powered job but love to burst more than a few bubbles of arrogance I find on these sites. Canadians hate any opposition to their rants - which is why Canada is a mediocre country - never an inward glance. Rather point the finger and waggle it. Where are you from - the dynamic province of PEI, or would that be Newfoundland - or how about New Brunswick. Yeah, all on the leading edge
  397. Brian Pelican from Denver, United States writes: The difference between Canadian and US towns is that industry in the US is largely controlled in the US. Can you say this about industries in Canadian towns? Either controlled from the US or dependent on the US for their sales. It doesn't irritate me at all to recognize that Canadian banks have come through this downturn well - partly because they have the market all sewn up between the 6 of them - they can charge Canadians what they want and get away with it. Laudable!! What is definitely cringeworthy is that G & M headline this as Canada "envy". Not the headline that any mature country or person would use to describe their attributes.
  398. Doctor Demento from Canada writes: Brian Pelican from Denver, United States writes "What is definitely cringeworthy is that G & M headline this as Canada "envy". Not the headline that any mature country or person would use to describe their attributes."

    How odd then that just about EVERY American (including Pelican) likes to refer to the USA as the greatest country in the world.

    How parochial of them . . .
  399. Brian Pelican from Denver, United States writes: It is one thing for private citizens to refer to their country as the greatest on earth - and I am not one of them. It is another for one of the major newspapers in the land to shout that out - and what is more it continues for weeks - about the longest story I have ever seen run by thisnewspaper. They must realize that Canadians love be reinforced this way.
  400. Doctor Demento from Canada writes: Canada's investment and control of US-based businesses is actually higher on a GDP basis than vise versa. For example Lear Jet is owned by Bombardier. All the high-tech New Flyer buses (including the hybrids being purchased for the entire Seattle fleet) are designed in Winnipeg even though the final assembly is undertaken in Minnesota to meet US content requirements.

    You are literally grasping at straws Pelican. Using your strange logic, Denver is a puny backwater compared to Mexico City . . .
  401. Doctor Demento from Canada writes: Brian Pelican from Denver, United States writes "It doesn't irritate me at all to recognize that Canadian banks have come through this downturn well - partly because they have the market all sewn up between the 6 of them - they can charge Canadians what they want and get away with it."

    What a ridiculous statement! As if lower user fees charged by US banks led to the economic collapse in the US. Pelican - keep posting as you are providing excellent entertainment as usual - roflmao . . .
  402. Brian Pelican from Denver, United States writes: Talking about grasping at straws - it seems to be part of your MO - to accuse someone else of doing something while emarking on just that yourself. You are now really making a fool of yourself. To cut to plain words - something you try not to do: Are you suggesting that Canada has a higher investment in US companies than the US has in Canadian companies. If you are, provide proof - no twisting in the wind allowed!! Hah
  403. Doctor Demento from Canada writes:

    Pelican wrongly believes that it is just private American citizens who proclaim the US as the greatest country- not so:

    http://www.foxnewsradio.com/2008/07/03/country-music-whoopie-pie-and-barbecue/
  404. Brian Pelican from Denver, United States writes: And so he twists and turns....

    Provides a link to some reporter's column on Fox Radio with the implication that this reporter's view is Fox's official view? What warped logic. This about as much as Fox's view as the satire about Canadians in Afganistan that had Canada in an uproar a week or so ago. What a pathetic creature Dem-Mental is.
  405. Allen Graham from BobcaygeonMazatlan, Canada writes: C'mon, be nice to the Pelican.

    He lives in a town that has a really nice airport. Just ask the Canadians that land there on the way to the condo.

    And please don't insult our Amelican neighboors.
    They are sooo loved in Mexico.
    The U.S. banking system is a farce, and it's annoying that Canadian banks continue to buy them out.
    Mexico's banking system from this perspective looks so much better than the U.S. system, but the Canadian banks continue to buy Mexican banks,
    then change the name.

    See: Scotiabank, Mexico, looks like any branch in Canada.
  406. Ambar Am I from Toronto, Canada writes: Doctor Demento from Canada writes:
    "2008 population of the City and County of Denver: 598,707
    2008 population of Metropolitan Winnipeg: 719,200".

    Is Dr. Demento trying to make Winnipeg look big somehow?

    Metro Denver has a population of about 2. 8 million people, which is over twice the population of the entire province of Manitoba.

    Are they ex-lovers, by chance, Dr. Demento and Brian Pelican? The only place I have seen such heated intensity between to people is when they are ex's who are minutes away from booking a hotel room for some major calorie burning.

    But what I really want to know is how this March 6th article, over three weeks old, somehow keeps getting selected as the Globe and Mail's number one top story. That seems peculiar, no? An article close to a month old, still being named as the top of the top.
  407. Brian Pelican from Denver, United States writes: Ambar, no have not met Dem-Mented and pleased that is the case. As I have pointed out and you have also, he tries to mislead (population of metro Winnipeg vs City of Denver) to suit his purposes and somehow thinks that is above lying. Your question about this story staying at the top is mine also. I think the G & M also uses Dem-Mented tactics as well to suit thier objectives
  408. Dave Jansen - The Progressive Centrist from Canada writes: .

    Thankfully Harper was ignored when in 2000, 2001, 2002, 2003, 2004, 2005, 2006, 2007, and 2008 he demanded Canada deregulates the bank so that we could 'compete' with those American banks that he and other conservatives felt were 'capitalist miracles'.

    Imagine the bigger mess we would be in had we listened to Harper in 2000???
  409. Brian Pelican from Denver, United States writes: Allan Graham, your post does not deserve a reply
  410. Doctor Demento from Canada writes: Brian Pelican from Denver, United States asks "Are you suggesting that Canada has a higher investment in US companies than the US has in Canadian companies."

    Does Pelican have no comprehensive ability whatsoever? What part of "on a GDP basis" does he have trouble understanding?

    How many Canadian-owned mining companies operate in Colorado Pelican?
  411. Brian Pelican from Denver, United States writes: Oh, please, who cares how much of Canada's puny GNP is invested in the US - it doesn't amount ot a hill of beans down here. However, US investment in Canada is massive in terms of the total Canadian economy. P!ss off , noddy.
  412. Doctor Demento from Canada writes: Brian Pelican from Denver, United States writes "who cares how much of Canada's puny GNP is invested in the US - it doesn't amount ot a hill of beans down here. However, US investment in Canada is massive in terms of the total Canadian economy."

    So Pelican admits that as a percentage of our population and economy that Canada has more ownership of American businesses than vice versa.

    Of course Canada is a great country to invest in. Our banks operate responsibly unlike American banks that appear to be run by drunken sailors who undertake huge risks, torpedoing their shareholders while at the same time pocketing hundreds of millions in bonuses as their companies go down the tubes . . .
  413. Enviro Man from Vancouver, Canada writes: This board is doing what a lot of threads do, turning in to a competitive shouting match about two competing cities.

    Usually it is a Toronto versus Calgary thing. Or a Toronto versus Vancouver thing.

    But today it's a Winnipeg versus Denver thing. I suppose that's sort of like a least-boring car competition between a Ford Grenada and a Chevy Cavalier.

    I've been to both places. I'd say it's about a tie. Which is to say I'll take Vancouver, thanks.

    I will add, though, that I'm not convinced by the company aspects as doing anything like adding to the argument for either side.

    You look at the top 20 employers of Winnipeg and Denver, with thousands of workers each.

    The cities look pretty similar there.

    The biggest employers in Winnipeg are mostly electricity technology and health care and university.

    The biggest employers in Denver are mostly electricity technology and health care and university.

    For Winnipeg that means Manitoba Hydro, Manitoba Telecom, Bristol Aerospace, Boeing Canada, the Health Sciences Center, the University of Manitoba, and such.

    For Denver that means Qwest Communications, Xcel Energy, Sun Microsystems Storage, Echostar Communications, Health One, University of Colorado Hospital, University of Denver, and such.

    Bottom line for me: Neither city has a beach by the ocean. That is too a big a drawback to overlook.
  414. Goth Ic from Queen Street West, Canada writes: Enviro Man from Vancouver writes: "But today it's a Winnipeg versus Denver thing. I suppose that's sort of like a least-boring car competition between a Ford Grenada and a Chevy Cavalier."

    LMAOROF!
  415. Apo Calypso from United States writes: Just wait. . .
  416. Doctor Demento from Canada writes: There is no metropolitan Denver government. Surrounding communities like Lakewood, Aurora or Littleton are no more part of Denver than Mississauga, Brampton or Markham are part of Toronto or Selkirk, Headingley or Lorette are part of Winnipeg. Winnipeg city hall governs an area with a population of 719,200. Denver city hall governs an area with a population of 598,707.

    And Enviro Man - there are some great beaches close to Winnipeg. Lake of the Woods has many cottages owned by milionaires and Hollywood stars and Grand Beach on Lake Winnipeg was voted one of the top ten beaches in the world by Playboy magazine - admittedly we have to go elsewhere for decent downhill skiing. Pelican will be glad to know that I'll concede that area to Denver.
  417. Goth Ic from Queen Street West, Canada writes: But Brampton and Mississauga are part of the Greater Toronto Area. Mississauga even advertises a map on their website called "Mississauga's Location in the Greater Toronto Area". And the quoted population of Greater Toronto, over five million people, absolutely includes Mississauga and Brampton.

    Metro Denver has way more people than Winnipeg. Get over it. It is silly to split hairs over the structure of local government as a way to try to make Winnipeg look bigger than Denver. By that silly argument Winnipeg is bigger than Vancouver since Vancouver City Hall only oversees the 580,000 residents of the city of Vancouver. Everyone knows that in the meaningful sense that matters, Vancouver is bigger than Winnipeg. People compare what the metro population is (over two million for Greater Vancouver), not where some City Hall boundaries end. Vancouver has way more people than Winnipeg. Get over it.
  418. Doctor Demento from Canada writes: Goth ic; no matter how you slice it Mississauga and Brampton are NOT part of Metropolitan Toronto and have no representation at Toronto City Hall. When I grew up in Toronto, Brampton was a separate village and there were farmlands separating most of Mississauga from Etobicoke.

    There is no official "metropolitan" Winnipeg. The City of Winnipeg almagimated all the previous boroughs in 1972 and has a population of about 720,000. That is a fact. I never claimed that Winnipeg and its surrounding cities, towns and suburbs was bigger than Denver's, Vancouver's or Toronto's.

    I'm not sure what your point is . . .
  419. Anarandan Ananda from Vancouver, Canada writes: Can someone tell me the value of derivatives being held by the famous solid Canadian Banks? If they are derivatives free who bought their plunder? Who will pay for their toxic assets?
  420. Goth Ic from Queen Street West, Canada writes: Some guy writes how back "when I grew up in Toronto there were farmlands separating most of Mississauga from Etobicoke".

    Whatever, thanks for the blast from the past out of your dusty memory lane. In this millennium, Mississauga is part of the Greater Toronto Area. You appear to be behind in your reading. Towns have a way of growing in to one another over several decades, becoming absorbed into the largest metro area as far as population count goes. You can read the details on government websites from this part of the province. But what was the guy thinking? Was he thinking that when he keeps reading everywhere that greater Toronto has a population of over five million people, that what, that includes magic people who are counted four times each living in Bay Street condos? The only way you get to over 5 million for greater Toronto is by counting places like Mississauga.

    Do the math on the population and do some reading on the Greater Toronto Area of this millennium. It isn't so hard to keep up to date, if you want to, with number issues and so on.

    And LOL, your snipe of "I'm not sure what your point is", you were the guy who started trying to leave everyone with the whacked-out impression that tiny Winnipeg has a population bigger than a city with twice the population of all of Manitoba! Sorry, but Greater Vancouver has way more people than Winnipeg and metro Denver has way more people than Winnipeg. Get over it. Quoting the technicalities of where Winnipeg's city hall's boundaries run does not make little Winnipeg look any bigger to anyone. Really, your stubbornly digging in your heels and your trying to make Winnipeg sound so big in population, your doing that just makes Winnipeg seem much smaller than I could have ever imagined possible.
  421. Coffee Breaking from Canada writes: Goth Ic writes: "do some reading on the Greater Toronto Area of this millennium/it isn't so hard to keep up to date, if you want to".

    You don't have to look far to keep up to date. Just read the story in today's paper by Karen Howlett about the Greater Toronto Transportation Authority, where the reporter notes "an end to the role played by Mr. Miller, Mississauga Mayor Hazel McCallion and other greater Toronto area municipal politicians, now on the Metrolinx board".

    Doctor Demento is behind the times and out to lunch.
  422. Goth Ic from Queen Street West, Canada writes: LOL CB - good call - and it looks like Doctor Demento also missed another report in this paper by a different reporter, where the first sentence began "Mississauga Mayor Hazel McCallion, who at 87 has ruled TORONTO'S LARGEST SUBURB for 30 years..."
  423. Doctor Demento from Canada writes: Goth Ic from Queen Street West, Canada writes "In this millennium, Mississauga is part of the Greater Toronto Area"

    The GTA is not the same as Metropolitan Toronto. The GTA is the urban area including Metropolitan Toronto and the INDEPENDENT surrounding cities/ municipalities. Are Goth Ic and Coffe Breaking that stupid?

    They obviously have no idea of the relevence of historical information . . .
  424. Brian Pelican from Denver, United States writes: Dem-Mented, distorts the facts to try to support all of his wacky theories. This Winnipeg issue is just one example. He doesn't seem to realize that this is tantamount to lying. In a previous post, at 2.03, he compares the populations of metro Winnipeg to the City of Denver, and some how thinks people won't notice. This guy tries to make everything around him sound so fantastic presumably to boost his decision to stay where he does. Absolutely fascinating from a psychological viewpoint. My wife interned in Winnipeg for a year, and she thought it was an awful place - freezing in winter and bug heaven in the 6 weeks of summer.
  425. Goth Ic from Queen Street West, Canada writes: You are the one who writes stupid stuff, Doctor Demento. I never once said those two are the same thing (MT and GTA). So your foolish attack is based on something I never said. How foolish of you to write such a nonsensical attack.
  426. Brian Pelican from Denver, United States writes: Here's a link to what Winnipeg is renowned for.

    http://winnipeg.en.craigslist.ca/rnr/1067877854.html
  427. K Smith from TO, Canada writes: Can we get rid of this post already!! At over 8% unemployment...I don't see how Banks in Canada can escape pending Depression. At 10% unemployement which should happen by June '09...we should be well on our way to Depression...if it lasts longer than 2-3 years, it will be declared a depression. The rate of bankruptcies have increased, people are losing their homes, banks are selling at dirt cheap prices....the way I see it...our banks are no better than anyone else's and what's more they are the least accomodating.

    Did you know that Citi bank in US is offering to cut the mortgage of people who have lost their jobs until they can get another job. In Canada, the banks would tell the home owner to SOD-OFF and live on the streets, possess your home and sell it so they can write off the mortgage. There are no repreaves for the common man/woman in Canada and it is the oligopoly of Banks (all in bed with each other) that takes from the poor and gives to the rich. Welcome to Canada!
  428. Doctor Demento from Canada writes: Brian Pelican from Denver, United States writes: "In a previous post, at 2.03, he compares the populations of metro Winnipeg to the City of Denver"

    There is no such entity as "metro" Winnipeg. There is only the City of Winnipeg and it has a population of about 720,000. The City and County of Denver is under 600,000. Those are facts and Pelican's warped spinning cannot change reality . . .
  429. Doctor Demento from Canada writes:

    So Winnipeg has a couple of seedy north-end motels and public housing apartments with bed-bugs. I suppose Pelican prefers this:

    http://www.denverpost.com/commented/ci_11968324?source=commented-news
  430. Brian Pelican from Denver, United States writes: Doctor Demento from Canada writes: 2008 population of the City and County of Denver: 598,707
    2008 population of Metropolitan Winnipeg: 719,200
    Posted 29/03/09 at 2:03 PM EDT | Alert an Editor | Link to Comment

    And now Dem-Mental says there is no such thing as "metro-Winnipeg - I wish he would make his mind up! As someone else earlier has explained to him, the influence of a city is arrived at by considering its metro area. ie, people live in metro and work in Denver. They are as integral a part of Denver as if they lived in the city of Denver. Same applies to Toronto. But poor Dem-Mento can't seem to grasp that.
  431. Brian Pelican from Denver, United States writes: Haha. I attached a link which exposes Winnipeg as the bug capital of Canada. He says it is limited to some seedy north end motels. Not so, according to the article which says "Bedbugs have been a problem for Winnipeg's Manitoba Housing complexes for years, but bugs don't discriminate and now they're invading every corner of Winnipeg". Interesting!! And he, in retaliation, (like the child he is - I think your mommy needs to spank your little bottom) provides a link to recent burglaries around Denver U.
  432. my 1.8 cents from Canada writes: E B asks "Our Banks are the safest in the world and our currency is sinking like a stone. Why are international investors staying away from Canada if we are such a safe place?"
    ************************************
    Maybe two possibilities:
    1. safe and valuable are two diff things? The loonie is down cause we sell mostly commodities.
    2. It's a Conservative plot to drive the loonie down to make Ont industries more competitive?
  433. Doctor Demento from Canada writes: Pelican seems unable to comprehend that there is only the City of Winnipeg (originally known as Unicity when it was amalgamated as the City of Winnipeg in 1972). Metro Winnipeg does not exist. But it is well known that he cannot fathom things and events that he hasn't been exposed to personally. It's kind of sad really . . .
  434. Joe Citizen from EVERYTOWN, Canada writes: NO THANKS ... TO STEPEHN HARPER. IF HE HAD ... HAD A MAJORITY GOVERNMENT A COUPLE OF YEARS AGO ..... HE WOULD HAVE DEREGULATED THE BANKS. HE INVITED AIG INTO CANADA TO PEDDLE THEIR SUB-PRIME MORTGAGES.

    HARPER IS A PATHOLOGICAL LIAR AND COMPLETE POLITICAL OPPORTUNIST. HE IS TRYING TO TAKE CREDIT ON THE WORLD STAGE FOR CANADA'S BANKS. THE NEXT THING YOU KNOW .... IS THAT ..... HE WILL TRY TO TAKE CREDIT FOR INVITING THE WHEEL.
  435. Doctor Demento from Canada writes: The blog Bedbugger.com offers news updates. Plus, some individual travelers report bedbugs they find to The Bedbug Registry. While New York City is a well-known "hot zone" for bedbugs, Denver , L.A., and Maryland seem particularly hard hit, too.

    http://tinyurl.com/d5sqk5
  436. Bhekuzulu Khumalo from Toronto, Canada writes: Canada is like the kid who at the park does not get dirty, and when his mother picks him up says hey look mummy I am not dirty like the other kids. There is nothing to envy, Canada did not participate and only survives because of the USA, the society is sterile, there are no great minds, there is no great Canadian thought, it is Canadians who envy because they have contributed nothing to the world, they were safe. 4 big banks and resources, Canada has nothing to contribute to the world except how to try to destroy people, hence Canada has in the OECD the most mentally disturbed people, because they are told they are free in reality they are not and the mind can not reconcile that so they go mad.
  437. Doctor Demento from Canada writes:

    Bhekuzulu Khumalo - crawl back under your rock . . .
  438. Brian Pelican from Denver, United States writes: Oh, the Demented does not like that - poor baby
  439. Brian Pelican from Denver, United States writes: Doctor Demento from Canada writes: Pelican seems unable to comprehend that there is only the City of Winnipeg (originally known as Unicity when it was amalgamated as the City of Winnipeg in 1972). Metro Winnipeg does not exist. \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ Then why does the Demented one refer to metropolitan Winnipeg in his post provide above. Simple question.
  440. g.k. starmatz from Canada writes: Iggie should scoot right over there and take credit for it,and promise to make it better lol
  441. Doctor Demento from Canada writes: Brian Pelican from Denver, United States asks "Then why does the Demented one (sic) refer to metropolitan Winnipeg in his post provide above. Simple question."

    Pelican has been reduced to spouting pure ad hominem attacks.

    A simple error. Try finding any official recognition of "metropolitan" Winnipeg - go ahead knock yourself out . . .
  442. L.B. MURRAY from !! from Canada writes: Dave Jansen - The Progressive Centrist from Canada writes: .

    Thankfully Harper was ignored when in 2000, 2001, 2002, 2003, 2004, 2005, 2006, 2007, and 2008 he demanded Canada deregulates the bank so that we could 'compete' with those American banks that he and other conservatives felt were 'capitalist miracles'.
    ______________________________________________

    You are right Dave Jansen. Had Paul Martin listened to Harper our banks would be in very bad shape ... and had we been under PM Harper in 2003, imagine the amount of blood and treasury spent in Iraq oil war.

    We're still not out of the woods, far from it, and one year from now, who knows?? How many of our largest employers will still be in business?? How many new unemployed??

    -
  443. Brian Pelican from Denver, United States writes: AHHHHHHH, the Demented one finally admits to an error - I wonder why it has taken him so long after continuing to deny it. Haha.
  444. facts r us from ottawa, Canada writes: a good sign that grown men need to get a life is when they argue about whose city has the most bed bugs and when they argue about whose city has the most people.

    maybe it is a sign that their body part is too tiny, the one between their legs.

    and so, kind of like a 1970s guy on the dance floor, they stuff a sock under their zipper, and walk around pointing at their bulge.

    they say, look at me, i have a big bulge. the way the mayor's office drew the line for my town, it makes me look like i have a really big bulge. check it out. i am well endowed, man.

    seriously guys, go outside and breathe some fresh air and get a life.

    and also, enjoy reading about metropolitan winnipeg in this newspaper article from two weeks ago, published in winnipeg's own newspaper:

    Winnipeg Free Press

    March 12 2009

    Downtown Dreams Remain Unfulfilled

    "...one in four residents of metropolitan Winnipeg works downtown, but only about 13,000 live there."

    so i guess maybe to some readers it can be fun to read about metropolitan winnipeg in the newspaper published in winnipeg.
  445. Brian Pelican from Denver, United States writes: So, I see the Demented one is arguing with his own newspaper?? Facts r us, I agree with you. My only purpose on these boards is to interupt the circle jerk of Canadians making up stories about the US to make Canada seem to look good. Demented is one of the main ones in that circle. They have had a free ride so far in their views, supported by the PM - no recession). However, all that is changing this year as the Canadian economy takes its long fall. Then they will move on to how the US make them do it (fire Canadian workers, that is)
  446. mister doobulous from BRAMPTON ONTARIO OH!, Canada writes:
    Brian Pelican from Denver, United States writes:

    Isn't anyone in the U.S. screaming, "Spend, Spend, Spend ... Lend, Lend, Lend" [ even if you don't have the $, or your credit rating is nonexistent? ] Obviously, you don't have Canada's finance minister, O'Flairity [ flair for disasters ] without any crisis management skills.

    Pity that President Obama doesn't have prime minister HarperOONY's general skills of plagiarism and ability to parrot what somebody else has said. Of course, your President relies on intelligent discourse and an activist approach, rather than parroting.

    To date the prime minister has plagiarised the former PM of Australia and repeated the gospel-like mantra of both Bush and McCain. Can he be relied upon to think for himself or deal with REALITY? Sadly, I don't think so.

    Stephen Harper Is George Bush and John McCain.

    http://www.youtube.com/watch?v=Yuo-5gwuWfo
  447. Brian Pelican from Denver, United States writes: Oh, I see they have recycled this one again- the great Canada ENVY story. This story is so amusing - all we hear about are Canada's wonderful gouging banks. But we also have Canadians communicating on a US invention and sending it out on another US invention, your cops using DNA- another US invention, your airlines using GPS another US invention, your hospials using US prescription drugs and US medical procedures, Canadians flying on US designed aircraft, your fellow Canadians (and the world) being entertained US style, your astronauts going into space on US spacecraft. Yeah, the world is envious of Canada. what a winner!
  448. Doctor Demento from Canada writes: Pelican - it is clear that your envy of Canada knows no bounds. Although you are oblivious to your own feelings of inferiority with the knowledge that the "great" USA has slit its own economic throat through lax regulations and greed to the point where the largest 2 US mortgage companies are now owned by your government (perhaps the USA should be renamed the United American Socialist Republics), your bizarre obsessive behaviour gives you away . . .
  449. Brian Pelican from Denver, United States writes: Are Canadians envied for the slide of Vancouver into being the gangland capital of Canada? 18 homicides for far this year - extrapolate to 80 for the year, compared with 55 last year, a 70% increase. But Canadians will say, oh but we are still better than the US, not, gee how can we fix this. Reason: they are being reminded daily by the Canadian government that they are the "envy of the world". And of course they eat it right up. The slide towards medicrity continues.
  450. Brian Pelican from Denver, United States writes: Ah, demento, has woken up from his drunken stupor last night. He certainly faded fast after trying to accuse me of drinking. Pot calling the kettle black is his standard MO. I see Demented doesn't comment on all the US inventions that I set forth that the big HE uses along with the rest of Canada. Oh, the mediocrity.
  451. Doctor Demento from Canada writes: Pelican - you cannot dispute the facts that you are more likely to lack proper health care in America, you are more likely to be murdered, you are more likely to be in jail, you are more likely to die at a younger age, you are more likely to be out of work, you are more likely to foreclose your mortgage, you are more likely to have your bank go out of business, etc, etc. etc.

    These are all facts and are reality. Accept it and move on. Otherwise perhaps you should seek some psychiatric help . . .
  452. Mach Machiavelli from Lethbridge, Canada writes: This article was March6, about a month ago. Has Firewall Stephen Harper given some gold to the Globe and Mail for keeping it hereÉ
    One wonders...about the G andM
  453. Month Old Reports Smell Like Propaganda from Canada writes: Before the editor deletes this comment, the editor really should answer a question.

    How is it that this article, "Canada envy, amid a global meltdown", is still being placed as the number one top story on the main page?

    This article is four weeks old. Previously there has never been a story this old being placed as the number one top story.

    It would be in the editor's best interest to explain how this is still the top story, because several post writers above are raising the embarrassing point that this smells like weird propaganda on the part of this newspaper, to have this month-old story be the "top news story" for so long.
  454. Month Old Reports Smell Like Propaganda from Canada writes: Before the editor deletes this comment, the editor really should answer a question.

    How is it that this article, "Canada envy, amid a global meltdown", is still being placed as the number one top story on the main page?

    This article is four weeks old. Previously there has never been a story this old being placed as the number one top story.

    It would be in the editor's best interest to explain how this is still the top story, because several post writers above are raising the embarrassing point that this smells like weird propaganda on the part of this newspaper, to have this month-old story be the "top news story" for so long.
  455. Month Old Reports Smell Like Propaganda from Canada writes: Before the editor deletes this comment, the editor really should answer a question.

    How is it that this article, "Canada envy, amid a global meltdown", is still being placed as the number one top story on the main page?

    This article is four weeks old. Previously there has never been a story this old being placed as the number one top story.

    It would be in the editor's best interest to explain how this is still the top story, because several post writers above are raising the embarrassing point that this smells like weird propaganda on the part of this newspaper, to have this month-old story be the "top news story" for so long.
  456. Month Old Reports Smell Like Propaganda from Canada writes: Before the editor deletes this comment, the editor really should answer a question.

    How is it that this article, "Canada envy, amid a global meltdown", is still being placed as the number one top story on the main page?

    This article is four weeks old. Previously there has never been a story this old being placed as the number one top story.

    It would be in the editor's best interest to explain how this is still the top story, because several post writers above are raising the embarrassing point that this smells like weird propaganda on the part of this newspaper, to have this month-old story be the "top news story" for so long.
  457. Month Old Reports Smell Like Propaganda from Canada writes: Before the editor deletes this comment, the editor really should answer a question.

    How is it that this article, "Canada envy, amid a global meltdown", is still being placed as the number one top story on the main page?

    This article is four weeks old. Previously there has never been a story this old being placed as the number one top story.

    It would be in the editor's best interest to explain how this is still the top story, because several post writers above are raising the embarrassing point that this smells like weird propaganda on the part of this newspaper, to have this month-old story be the "top news story" for so long.
  458. Doctor Demento from Canada writes:

    Looks like Pelican is trying a new tactic . . .
  459. Can Aid Ian from Canada writes: Pelican, you are the perfect example of what gives the US a bad name. You believe because of your citizenship you are a part of all those inventions you talk of. The fact is your not. You are just ridding on someone else coattails to inflate your ego. Just because so many great people were American doesn't make you one. This article is still getting viewed because it shows what Canadian banks did and why they are in a better position than many banks around the globe. That is interesting, whats not is someone who thinks because they were born in a certain place they can take credit for the strength of their country. The people who deserve that died along time ago, they put into place a system with checks and balances based on the best reasoning that all opposing views could tolerate.
  460. Whil Wheaton Ruined Star Trek from Vulcan, Canada writes: Can Aid Ian, where is the evidence for your claim? You write that the Pelican is inflating his own personal ego by riding on the coat tails of American historical achievements. Can you give a quote from the Pelican where he did that? WHere did he give that indication in his writing? My own read is that Pelican said "it is one thing for private citizens to refer to their country as the greatest on earth, and I am not one of them", and most of the rest of what Pelican said was just part of a mud-slinging contest comparing Denver and Winnipeg, and in complaining about what Pelican sees as an unproductive mindset dragging Canada to mediocrity. You can certainly disagree with what the Pelican wrote! But all I am getting at, is, I don't see his quote where he is personally arrogant claiming to be personally great. His personal "ego" does not seem to me to be in the equation here. What I see here is he seems very mad mostly at a guy who I guess is in Winnipeg.
  461. Can Aid Ian from Canada writes: Whil
    the tone of these comments were what sparked my comment
    Pelican writes
    Oh, I see they have recycled this one again- the great Canada ENVY story. This story is so amusing - all we hear about are Canada's wonderful gouging banks. But we also have Canadians communicating on a US invention and sending it out on another US invention, your cops using DNA- another US invention, your airlines using GPS another US invention, your hospials using US prescription drugs and US medical procedures, Canadians flying on US designed aircraft, your fellow Canadians (and the world) being entertained US style, your astronauts going into space on US spacecraft. Yeah, the world is envious of Canada. what a winner!
  462. Whil Wheaton Ruined Star Trek from Vulcan, Canada writes: Can Aid Ian, I still do not follow your argument about personal ego. The headline of the news article is "Canada envy, amid a global meltdown". That is a striking headline. In response to it, the Pelican argued "No, Americans are not envious of Canada", and he tried to back up his argument by pointing out some American achievements (you quoted him in that area a moment ago). All I am saying is I do not see evidence of this as a personal ego thing as far as the Pelican goes, which was your accusation. My read is that the Pelican is comparing, and arguing about, two countries. And again, you can certainly argue with the Pelican, as far as his "evidence" and "thesis" goes - you might there argue that he is flat out completely wrong. But I do not see evidence of the Pelican inflating his own personal ego the way you claim. To me, the Pelican mostly just sounds very opinionated (who isn't?) and really mad at the guy who I guess is in Winnipeg.
  463. Can Aid Ian from Canada writes: I see your point Whim. I do think that when you start comparing countries in that way you end up put some sort of personal bravado with it. Like if I went into a bar in the states and started saying 'I'm a canadian, did you know we invented insulin and basketball and etc.' I think most people would see this not as someone being very matter of fact but instead someone talking up their own country. I personally believe that when they start saying well I'm a Canadian or American or Irish or whatever and we've done this they are self promoting because they are attaching them self through nationality to something they really didn't do and are only a part of in a round about way. But I think you have a better understanding of what he was trying to say, where as I was just reacting to a small section of his comments.
  464. Brian Pelican from Denver, United States writes: Thank you Whil, you have hit it right on. I do not claim personal credit for any of the inventions I mentioned. My posts on these boards are never in isolation about how great America is. I respond to posters who boost Canada up at the expense of trashing the US. To me a lot of them appear to wish the US extreme ill. They don't seem to take account of the depths to which Canada would fall if these longings came to fuition. I don't think they care as their sense of hate of the US is so strong. Why, I don't know, as it is clear to me that Canadians would not have half their standard of living if they were not perched alongside the US. Americans, like anybody else, have pride in their country - if they had any idea of the hatred expressed by Canadians, I have no doubt that they would take their business elsewhere.
  465. Doctor Demento from Canada writes: Pelican - while it is true that many inventions and advances were made in the USA (as one would expect given a population 10 times that of Canada's), your problem is that you are unable to acknowledge that Canada does some things better and has made many advances independent of America. For example the entire field of nuclear medicine was invented and developed in Canada. The first Cobalt 60 cancer machine was developed and sold in Canada. Canada supplies the majority of global radiopharmaceuticals including almost all sold in the USA.

    You will argue until you are blue in the face that Canada has NOTHING to be proud about - that we are just a mediocre bunch of backwater farmers and foresters who only serve as branch plants to the GREAT USA. You have a severe problem and inferiority complex and I expect you are no longer welcome at your Toronto in-laws . . .
  466. rick clarke from Edmonton, Canada writes: O ya,sure!.......... More like the government kept the bankers from becoming the bangsters they longed to be!
  467. rick clarke from Edmonton, Canada writes: Brian; Please don't use Demented as an example of "Canadians".

    Some "Canadians". Maybe.
  468. Leo Szilard Jr from Hungary writes: Dr. Demento appears to be misinformed about the historical timeline of nuclear medicine.

    The Resource Center at SNM, the Society for Nuclear Medicine, has a "Historical Timeline" on its website, detailing the discovery and development of nuclear medicine.

    And work in Canada is certainly not as prominent as Dr. Demento claims, in the area of the invention and development of nuclear medicine.

    Among its entries for pioneering key developments:

    1903, Scotsman Alexander Bell, living in America, proposes uranium therapy for tumors.

    1924, Dr. Hevesy, Hungarian, use of radio-tracers in tissues.

    1936, Dr. Lawrence, California, first leukemia radiotherapy

    1939, Dr. Hamilton, California, first thyroid radio tracing and therapy

    1942 Dr. Seidlin, New York, definitive radiotherapy of thyroid tumors

    Sorry, Dr. Demento, but a lot of the huge steps in the invention and development of nuclear medicine had nothing to do with research in Canada.

    You can read about it one the website I mentioned, which lists about a hundred main events in the invention and development of nuclear medicine.
  469. Old Timer from Timmins, Canada writes: Canada got its really big start in nuclear medicine in the 1950s with cobalt treatment tests. And that work was really terrific, and a high impact for the field.

    But yes, Szilard is right, it is just not the case that the "entire field of nuclear medicine was invented and developed in Canada". It is just not the case for Canada. I do not know where anyone would have gotten that idea from.
  470. Brian Pelican from Denver, United States writes: Thank you guys for putting Demented straight - he will deliberately lie to support any conclusion he wishes to arrive at. A really sorry character.
  471. Doctor Demento from Canada writes: Leo Szilard Jr from Hungary - while it is true that some very early experimental breakthroughs were made elsewhere, it is indisputable that Canada played the most prominent role of ANY country regarding the commercialization and widespread use of nuclear medicine which started in the 1950s. Canada designed and constructed the first commercial and successful radiation treatment machines. The first Cobalt 60 machine was built by AECL and was used successfully in October 1951 in London Ontario. As I posted earlier, Canada still supplies the majority of the world's radiopharmaceuticals, particularly Molybdenum 99 through MDS Nordion which is headquartered in Ottawa. I suggest you visit the Canadian Nuclear Association's website to learn more:

    http://tinyurl.com/dmk22m
  472. Doctor Demento from Canada writes: Pelican - sorry that it bursts your balloon to know that Canada developed and commercialized modern nuclear medicine and still supplies most of the USA's radiopharmaceuticals - again it is just the way things are . . .
  473. Brian Pelican from Denver, United States writes: Ah, Demento before said "For example the entire field of nuclear medicine was invented and developed in Canada". Now that posters have just challenged his post, he now says "it is indisputable that Canada played the most prominent role of ANY country" So, now he has flipped from entire to "most prominent". Based on my experience with Dmento's fabrications in the past, I will go with Mr Szilards and old Timer's positions - they do not have an axe to grind as Demento does.
  474. Brian Pelican from Denver, United States writes: Demento says "Canada still supplies the majority of the world's radiopharmaceuticals, particularly Molybdenum 99 through MDS Nordion which is headquartered in Ottawa". doesn't look like it from the first link I looked to

    http://www.avidrp.com/aboutus/aboutus_scientificadvisoryboard.html
  475. Brian Pelican from Denver, United States writes: And another one

    http://www.wipo.int/pctdb/en/wo.jsp?WO=2008021302
  476. Brian Pelican from Denver, United States writes: And a third. I think the case has rested.

    http://www.allbusiness.com/services/business-services/4346341-1.html
  477. Brian Pelican from Denver, United States writes: Demented, I have looked to the website furnished by Mr Szilard, The Society for Nuclear Medicine is headquartered in Virginia and the website details the myriad clinical trials undertaken there. Yeah, it's all in Canada. What a fraud you are.
  478. teddy bear from United States writes: a canadian is confronted with the following choice..

    do i honor the fine canadian tradition of whining and keep complaining about the exorbitant bank service charges i have to pay?

    .. or ..

    do i suck it up, stand tall, and be proud of the shape canadian banks are in, despite being bent over by the banks every chance they get?

    it's clear from the tone of the posts here that canadians - including the G&M with their decision to run this article for weeks - have chosen to be proud... even if it means sacrificing some of their principles - and a bit of dignity - in order to do so!

    you canadians have no self respect as a nation. how totally pathetic

    lol
  479. Johnny Tokyo from Bangkok, Thailand writes: As I cruise the comment section of this piece (encore une fois) I can, with almost smart-bomb accuracy pick out the whinges and musings of many former "hot-rats" TSX players and banking insiders. For them I say this; (and I REALLY wish they would focus and TRY to get it this time) Jean Chretien vetoed "bank mergers" when he was IN POWER. That's right, Jean simply shut down the whole process of Canadian banks getting themselves into trouble. So what that in 1994-95 he threw 100 million at Quebec sleazoids to keep our federation together. Jean Chretien also kept us OUT of IRAQ. Canadians very nearly had the American "globalony-ists where we wanted them by means of what I call the November 2007 "fluke coalition." Could you imagine a gaggle of loud-mouthed American "continentalists" walking into a boardroom only to face Duceppe, Dion and crafty Jack Layton ? Geez, Louise that troika would have stripped some American gears as well. But th corporate media closed ranks and burned Dion at the stake for his lack of charisma. Nice job. But it precisely a LACK of charisma and a full dose of NATIONAL PRIDE that we needed. Instead we get Iggy. Back in the day, Chretien simply poured maple syrup all over the current "banking industry" globalony. We are better off today because of it. He deserves credit. Canada, Canadians and the Opposition deserve credit for KEEPING IT REAL. why don't people just give them that credit. Am I off-topic ?
  480. Johnny Tokyo from Bangkok, Thailand writes: Yeah. Without really getting into it with the picayune Mr. Pelican from Denver there, these days I just have to chuckle a bit when ANY American labels anybody else a fraud. Most ironically and in the light of THIS particular G&M article Mr. Pelican actually picks through all the information you've so helpfully provided him and then uses some unfortunate slip of language you may have committed to pin the fraud label on a Canadian. His victory dance follows. Relax Dr. Demento. Sadly, I remember hauntingly similar exchanges with Americans who believe that American geniuses invented penicillin, the automobile and the telephone and even democracy. Hell, it's now pretty well accepted their revered Edison stole his famous light bulb from either a less aggressive compatriot or some poor foreigner (probably a Frenchman) Bolstered by their chat room and forum victories in their own financially floundering jurisdiction the local broad band bully will invariably attempt to get into the big leagues by taking on a Canadian armed with information and facts. Be assured Pelican never really reads your posts or looks for nuance. Nor will he even in the face of irrefutable fact and evidence EVER concede a point. His arguments are just not worth the whiteout stains on his monitor. He just skims, senses your opposition to his preposterous boasts, claims and flawed thought processes and through his miasma of denial crawls around in the gist of what he might think he hopes you are saying and gropes for the first door handle he sees. It's like watching a dog run in his sleep. Eegads, Pelican. I accepted years ago that at best you'd tuck into the musings of Henry Kissinger or Ronald Reagan and think you were getting the iside "really of it all" but really, don't you people even read the papers anymore?
  481. Jack Jones from ttawa, Canada writes: Anybody wonder why this article, dated one month ago, continues to be the most popular on G&M's website ? Looks like Kory and the boys are working overtime to click their way to spin heaven. Won't Stevie be proud.
  482. Doctor Demento from Canada writes: Pelican - you are simply providing links to US practitioners of radiology and nuclear medicine of which there are many. As I have correctly stated, the radiopharmaceuticals they employ come mostly from Canada where they were developed and where they are still made. I know that you have trouble dealing with the fact that Canada surpasses the USA in this field since you seem incapable of admitting that the USA is second to any other country in any area of human endeavour or measureable achievement.

    My original statement was not quite correct as Mr. Szilard pointed out. What I meant is that Canada invented and commercialized the nuclear medicine BUSINESS which did not exist before 1951. While the USA, France and Britain were busy with nuclear weapon development, Canada concentrated on the peaceful uses of nuclear power.

    http://www.mds.nordion.com/about.asp
  483. Doctor Demento from Canada writes: An Aanadian is confronted with the following choice..

    do I honour the fine American tradition of arrogantly trumpetting the fact that no country is better than the USA at anything?

    .. or ..

    do i suck it up, stand tall, and admit that the Canucks have developed a sounder and more robust banking system than that in the USA, particularly since trillions of dollars of my tax money is now being used to prop up failed US banks and financial institutions?

    it's clear from the tone of the posts here that Americans - including Pelican and teddy bear - have chosen to arrogantly trumpet the fact that no country is better than the USA at anything ... even if it means sacrificing some of their principles - and a bit of dignity - in order to do so!

    you Americans have no self respect as a nation. how totally pathetic

    rotflmao . . .
  484. Truth Be Told from Liverpool, United Kingdom writes: This is no longer a broadsheet chat site.

    Instead, it has become a fight ring for Neanderthal bigotry.

    The bigots on one side are scribbling "you Americans have no self respect as a nation" and "these days I just have to chuckle a bit when ANY American labels anybody else a fraud" and "really, don't you people even read the papers anymore".

    Pure bigotry. Nothing else. All Americans suck, that is the message in those comments.

    And the bigots on the other side are scribbling such things as: "If Americans had any idea of the hatred expressed by Canadians, I have no doubt that they would take their business elsewhere."

    Again, bigotry. All Canadians are hateful, that is the message in that comment.

    This stewing animosity of some Canadians against Americans, and vice versa, is very troubling. It is most especially a shame to see such blatant bigotry written by educated people.
  485. Doctor Demento from Canada writes: Truth Be Told from Liverpool, United Kingdom; you make some valid points however this pissing match started with certain bigotted Americans unable to accept the fact that perhaps Canada does something better than they do - to them an untenable concept . . .
  486. teddy bear from United States writes:
    in canada, making generalizations is frowned upon. for example, you don't say that all muslims are terrorists, or that blacks are lazy

    unless if it applies to americans. then it's like a light bulb going off

    god knows i hear it all the time - americans are ignorant, americans are hated across the world etc.

    i have yet to see one single canadian criticize the things canadians say about americans, despite this double standard

    the reason i believe has to do with how canadians express their patriotism - canadian patriotism is almost always expressed with some reference to americans, and how we americans compare unfavorably

    canadians act small. you attempt to make yourselves better than americans, but you diminish yourselves in the process

    this is no generalization - it is the truth. deal with it

    god bless america, everyone
  487. Brian Pelican from Denver, United States writes: Johnny says"He (Pelican) just skims, senses your opposition to his preposterous boasts". Oh, Johnny, my boy, so you dispute, I take it that the inventions (or dominance in certains fields I mentioned are American as opposed to Canadian) - PCs, internet, GPS, majority of large aircraft flying, DNA analysis, medical procedures, entertainment, space travel, prescription drugs????
    I spot a touch of jealousy in these denials. Demented tried and failed to take the position that the field of Nuclear Science was (at first totally, and then backed down to predominantly) a Canadian achievement. Canadians seem to lie to try to support their beliefs that Canada is much more than an economy run by US branch plants and US retail chains. A very sad reflection on a country that was once looked up at, regardless of its relative population.
  488. Brian Pelican from Denver, United States writes: Demented says "My original statement was not quite correct as Mr. Szilard pointed out. What I meant is that Canada invented and commercialized the nuclear medicine BUSINESS which did not exist before 1951." Ah, Demented would have likely backed down form his origianl claim had he not been challenged. Demented works on the principle - inflate Canadas achievements until, or if, someone notices and calls him on it. If not, the fabrication will stand. What a sorry character he is. Name one scientific field in the last 20 years where Canada stands head and shoulders above the US by number of patents currently in force. And don't come here with the relative size of Canada. There are plenty of countries in the world with much lower populations which have inventions or patents which they can say dominate a field
  489. Nobody Here But Us Chickens from Eat Saskatchewan Poultry, Canada writes: Actually, the start of the contention was the headline, where the Denver poster talked about it.

    The headline was "Canada envy, amid a global meltdown".

    And the Denver poster wrote "Any country that has a widely read newspaper that refers to "ENVY" of itself instigates a shake the head."

    And the Denver poster was not alone, because soon after that, Harold from Canada wrote: "I have to mostly agree with Brian Pelican", adding "the headline is misleading - doubtful whether Canada is that far ahead of the game."

    And then the Denver writer expanded the headline comments, saying: "The headline about envy is definitely cringeworthy. I shouldn't imagine any mature person or nation would put out a statement that they are the envy of the world - even if they believed it."

    So the topic to that point was mostly the headline, and whether an editor or nation is mature, that would comfortably choose that as a headline. The Denver fellow's comments were certainly spicy, about whether Canada is mature or not if it is comfortable with such a self-fawning headline. But then again, the headline itself was spicy. And it is a self-fawning headline. There can be no dispute there.

    It was at that point the Winnipeg fellow threw a big fist of bigotry, with: "How odd then that just about EVERY American (including Pelican) likes to refer to the USA as the greatest country in the world - How parochial of them..."

    That comment, stereotyping Americans and calling Americans parochial and associating Americans with oddness, that comment was where the nasty bigotry began against PEOPLE. Before that, as detailed above, the barbs had been focused on the headline and on the countries.
  490. sleazy Silvester from Canada writes: I notice that people are way to generalized about Americans. For the most part many Canadians would feel the same. Unfortunately your G. W. Bush years made your countries elected government a hated world entity. That will slowly go away as your Gov becomes more open minded and less likely to put a gun to some ones head and say 'democracy'; although never entirely. Pelican your 'conversation' mostly with Demento , has a few real points. You however have made some foolish statements, one being Canadians standard of living would drop if not beside the US. Until WW1 Britain not America was top dog. Canada had a secure democracy, strong education system, and a wealth of natural resources. The fact you border us was not the reason for that. You may say that your American inventions increased standard of living but they are all completely Dependant on European thinking and invention. Francis Bacon (British) invented the scientific method, Newton created physics along with many other breakthroughs. If these Idea's were never exported to Americans how would Ford have become and engineer or a man put on the moon. However you have started labeling Demento's beliefs as Canadians trying to lie to build them self up. This is a harsh generalization. The title of the article indicates what I have seen as I went around Europe, people hearing that Canada has a banking system that is intact. When your bank has been nationalized your pensions have been fractionalized this does make you envy a country where these problems are not nearly as bad. There is envy even if only for a short time. The envy really lies in the fact the government safe guarded the banking system when many countries were cashing in on risk with working peoples money.

    Pelican your right to get mad at alot of the negative comments towards Americans, I to think there mindless and offensive. But better to point out peoples faults then take them up just to try to get under the skin of demento
  491. Doctor Demento from Canada writes: Pelican - Canada is the world leader in medical radioisotope supply period. I know that you are ideologically unable to acknowledge that, but self-delusion appears to be your forte.

    "The problems at Petten could not come at a worse time, Atcher said. Several days of MO-99 production were lost last week at the National Research Universal reactor at Chalk River, ON, Canada, when an electrical storm triggered a precautionary shutdown. Lost production from the orderly restart of the reactor caused a shortage of MO-99 in North America last week.

    The NRU reactor covers half the world demand for MO-99 and normally has enough excess capacity to cover the additional need for production if one or several reactors that produce MO-99 are shut down."


    http://www.diagnosticimaging.com/news/display/article/113619/1339591
  492. Joe Citizen from EVERYTOWN, Canada writes: NO THANKS TO STEPHEN HARPER. Stephen Harper has for years advocated the deregulation of banks all over the world. Had he had a majority government here in Canada he, most certainly, would havee deregulated our banks ..... and we would really be in the soup now.

    HARPER INTRODUCED THE 40M YEAR MORTGAGE and invited AIG to Canada to peddle their sub-prime mortgages.

    In reality .... HARPER IS ANTI-STABILITY.

    He shows no shame whatsoever for taking credit for Canada's banking system .... even though everything that he believes in would compromise it's effectiveness.

    HARPER'S A LIAR AND A THIEF.
  493. Brian Pelican from Denver, United States writes: Demented says "Doctor Demento from Canada writes: Pelican - Canada is the world leader in medical radioisotope supply period"

    Really, this link to the Berkeley lab does not indicate that - quite the opposite. Demented again lies to support his spurious position. First it was Canada "dominated" the nuclear medicine field, then when faced with opposition it was Canada was predominant in the field, faced opposition to that, and now he is going for an even more narrow part, that of medical radioisotopes, and even here he is not correct. What a sorry human being. Have you taught your kids to lie for effect??
  494. Get Real from Australia writes: The little news clip is not convincing that "Doctor Demento from Canada writes".

    MO-99 is simply one of about a hundred different radioisotopes used in nuclear medicine.

    And so the fact that Canada produces half of MO-99 worldwide is not in any way proof somehow that Canada is the world leader in isotope supply.

    His comment is like saying that Canada is the world leader in producing all bottled goods in the world as "proven" by the fact that Canada sells more than half of the bottled maple syrup in the world.

    For all I know, Canada is the world leader there, for radioisotopes. But that news clip is certainly not convincing of the claim. It is a maple syrup argument.

    The website of the Radiochemistry Society has a good web page list of all the hundred or so isotopes used in nuclear medicine, called "Medical radioisotopes".
  495. teddy bear from United States writes:
    it's funny how the G&M tries to portray canadian banks as 'the envy of the world', despite the government's public attempts to stimulate lending, to get the banks to lend more

    it's obvious that canada's banks are not as immune from the crisis as the G&M would like you to believe

    canadians will go to any length justify their superiority to anything american... this article - and the unusual length of time it has been made accessible by the G&M - is the latest proof of this

    give it a rest, you people
  496. Leo Szilard Jr from Hungary writes: Part of the problem with some of the radioisotope supplies has been the simultaneous shutting down of plants of various world leaders in the field. The European medical press has been following this extensively in recent months.

    "The High Flux Reactor (HFR) in the Netherlands, one of three nuclear reactors in Europe that makes medical radionuclides, announced on Oct 14, 2008, that it would not restart until mid February. One of the main products affected is 99mTc, formed from the radioactive decay of 99Mo. It is delivered weekly to hospitals as a 99Mo generator that 99mTc is extracted from. The 99mTc supply chain has been hit hard by the unexpected closure of the HFR. The stoppage in late August due to a technical problem overlapped with planned maintenance shutdowns at the other two reactors making 99Mo. To make matters worse, it also coincided with the temporary closure of the Institut des Radioéléments (IRE) in Fleurus, Belgium, one of two plants in Europe responsible for extracting 99Mo from irradiated uranium targets. European production of 99Mo is now up and running again, albeit at decreased strength. Supplies have been supplemented by surplus material from reactors in Canada and South Africa, and sites in France and Belgium. The three European reactors that generate 99Mo already synchronise operating cycles to ensure that at least one is always online. However, the number of days that each reactor operates, and commitments to non-medical projects, means there is little room for manoeuvre. The reactors in Canada and South Africa are not typically involved in the discussions. A Canadian reactor project producing only medical isotopes was cancelled due to design problems. Plans to replace the HFR with a new reactor in 2016 are dependent on co-funding from scientific research grants."
  497. sleazy Silvester from Canada writes: Hey teddy bear, I wish you had all your money in bear stearns. or your portfolio full of citigroup and bank of america. Then you might understand that there is a point when a country that was not risking peoples wealth is (just for a short time) enviable. The Canadian banks do not have billions or even trillions being thrown at them. They are part of the world, so when a world financial crisis hits obviously they are going to be effected.
    you say
    canadians will go to any length justify their superiority to anything american

    But I wonder if you'll ever discover Europe, where there banking system is in real trouble, losing huge amounts of money. The title of the article does not infer superiority to Americans, it instead points out globally many countries whose people don't know if there banks are stable, would, rightly so, be envious of those people who are invested in banks that are still turning profits.

    when you assumed it was a stab at America, this just tells people when news groups talk about the rest of the world you immediately assume there are bad mouthing america.

    The article is still accessible because it is still being viewed by so many people. Most likely a result of many people all over the world seeing what Canadian banking systems did differently. So they can press on there own governments to become more prudent about the banking system
  498. teddy bear from United States writes:
    The article is still accessible because it is still being viewed by so many people. Most likely a result of many people all over the world seeing what Canadian banking systems did differently. So they can press on there own governments to become more prudent about the banking system - Sylvester the Sleazeball

    wow... policy analysis by newspaper article. that's a novel canadian concept. especially when you consider how often canadians here criticize the G&M over its reporting. what else are you going to suggest - solar powered umbrellas?

    your assertion is a blatant rationalization
  499. Doctor Demento from Canada writes: Get Real from Australia writes: "MO-99 is simply one of about a hundred different radioisotopes used in nuclear medicine."

    "Many radiopharmaceuticals use technetium (Tc-99m). In the book Technetium by Klaus Schwochau, 31 different radiopharmaceuticals based on Tc-99m are listed for imaging and functional studies of the brain, myocardium, thyroid, lungs, liver, gallbladder, kidneys, skeleton, blood and tumors."

    Tc-99m is a daughter of Moly-99.

    http://en.wikipedia.org/wiki/Radiopharmacology

    There is no other country that supplies as much nuclear medicine to the world as Canada. I am not bragging - just stating a verifiable fact.
  500. dennis cape from United States writes: Brian Pelican wrote: Ah, Demented would have likely backed down form his origianl claim had he not been challenged. Demented works on the principle - inflate Canadas achievements until, or if, someone notices and calls him on it. If not, the fabrication will stand. What a sorry character he is. ================================= Debating with Demento is like trying to debate with a fart. It stinks and keeps shifting with the wind. Everytime you confront his made-up facts with real facts, he changes his position as if you misunderstood him all along. Recently, I posted a list of lies he's told about America. Every single one he came back and acted like he had actually meant something else. Why not just admit you're wrong? Dr. Demento has no shame. And this thing about being the world's greatest supplier of nuclear isotopes is ridiculous Whatever business you have is because the USA lets you have it. In several instances where the supply has run low due to problems in Canada - voices in the USA threaten to start producing everything we need here on our own in order to make sure the supply isn't threatened. Do you doubt with our nuclear know-how and innovation in this field that only Canada can do this? That's pretty pathetic grasping at straws. I mean your healthcare system is ranked 30th in the world. Why don't you take that little victory (since USA is 37th) and get back into your crib, suck your thumb and be satisfied?
  501. Get Real from Australia writes: Doctor Demento from Canada writes: "There is no other country that supplies as much nuclear medicine to the world as Canada. I am not bragging - just stating a verifiable fact."

    Of course you are bragging! That is exactly what you are doing!

    Be honest with yourself!

    Because this news article is about Canada's banking system, but here you are bragging here about Canada's nuclear facilities!

    Be honest with yourself!

    I see in the Hungary guy's post on MO-99 (the EU makes more MO-99 than Canada does, 45 percent to 40 percent, according to the March 2009 World Nuclear Association update) that, as far as the Europe goes, "the reactors in Canada and South Africa are NOT typically involved in the discussions - a Canadian reactor project producing only medical isotopes was cancelled due to design PROBLEMS".

    Looks like in some of the European medical press that Canada is not quite described as the big man on the block the way that some might like.
  502. sleazy Silvester from Canada writes: Teddy bear says:
    wow... policy analysis by newspaper article. that's a novel canadian concept. especially when you consider how often canadians here criticize the G&M over its reporting. what else are you going to suggest - solar powered umbrellas?
    your assertion is a blatant rationalization

    Teddy bear, using a newspaper to educate yourself on anything is quite common. making pragmatic decisions with that information is being competent. I've read lots of Canadians criticize the G&M, it's pretty much a national past time. Sorry for being rational blatantly, next time I'll try to slide rational thinking in so you don't see it coming
  503. Brian Pelican from Denver, United States writes: What a hoot - the analogy of Demented as akin to a fart!! Yeah, Dennis, Demented puts up trial balloons on Canadian superiority. If no one shoots them down, fine, he considers that a coup. If someone does challenge it, he will argue the point over a number of posts. If that person is persistent, and you really have to be persistent with him as he will try to wear you down, and provides proof Demented is lying (and he does lie, I have no doubt he knows it), as you say, he will repackage his position and try to slide that in in the hope that the repackaging don't be noticed. The man is a pathological liar. God, knows what shape his kids are in if they have learned that this is the norm.
  504. Brian Pelican from Denver, United States writes: Interesting - this story about envy continues after 4 weeks. Today's story on the Vancouver killings closed for comments after 47 posts. G & M - your bias is showing - let's not run a negative story above people being killed while jogging in Vancouver beyond a couple of hours, but sure, let's pretend that the world is envious of Cnada for a few more weeks. How pathetic.
  505. Doctor Demento from Canada writes: dennis cape from United States writes "And this thing about being the world's greatest supplier of nuclear isotopes is ridiculous Whatever business you have is because the USA lets you have it."

    What a typically ARROGANT American attitude - I suppose you arrogant Americans "let" Saudi Arabia produce more oil than any other country does and you "let" Germany make BMWs and Audis.

    Do you have any idea how totally self-absorbed you sound?
  506. dennis cape from United States writes:
    HAHA, I almost wet myself reading Dr. Dementos last post.

    Isn't it time to get back in your igloo Mr. Demento.....I'm sorry, DOCTOR Demento?

    You are a true patriotic Canadian, Sir. Of that there's no doubt.

    Just remember where your place is. HAHAHAHAHAHA!!!!!!

    I'm sorry if that sounded arrogant. It was a bit, I'll admit. But wtf do you expect? Canada is the EQUAL of America?

    Nay, I say. Nay.
  507. Doctor Demento from Canada writes: Get Real from Australia writes: "Of course you are bragging! That is exactly what you are doing!

    Be honest with yourself!"

    I'm not bragging at all - I know the subject well and I KNOW I am correct unlike you and "the Hungarian guy" (forget about the Americans as they wouldn't know the truth if it landed on their toes).

    "North America is primarily dependent on MDSNordion, a Canadian company, for radioisotopes. Based in Chalk River, Ontario, MDSNordion supplies its product with a 50-year-oldnuclear reactor."

    http://www.isotopeworld.com/newsmedia/relatedarticles/464/
  508. Doctor Demento from Canada writes: dennis cape from United States writes "Canada is the EQUAL of America?"

    Of course not. Canada is better than America. The fact that you arrogant Americans and other non-Canadians are still arguing on this month-old thread just proves my point - see how long we can keep it going . . .
  509. jason hemmings from weymouth, United Kingdom writes: it seems that everybody's concern is about economic meltdown! bring it on i say, I think that it will perhaps slow the meltdown of our planet. less co2 emmissions is a good thing for the planet, if we don't stop buying and selling unnecessary goods now so we can have a better car or bigger wide sreen tv there isn't going to be much left of canada as we know it today anyway! so if the planet is screwed! what is the point of money? No matter whose bank it is in?
  510. dennis cape from United States writes: Doctor Demento from Canada writes: dennis cape from United States writes "Canada is the EQUAL of America?"

    Of course not. Canada is better than America. The fact that you arrogant Americans and other non-Canadians are still arguing on this month-old thread just proves my point - see how long we can keep it going . . .
    =======================================

    Canada is better than America? You said it.

    When you need defense, when you need someone to buy your crap, when you need someplace to thaw out your frozen appendages, then we'll see WHO need WHO!!!!!

    You can disappear tomorrow. And we'll get on, as if a breeze blew through the window.

    In your neighborhood, the humor is low, the color is black, the favorites are dead, honor is dead, the center of the theater is measured in meters.

    Who cares?

    Not me.
  511. teddy bear from United States writes:
    canada is basically an inferior version of america.. an america junior

    if canada's banking system were to fail, nobody would care. if the us system failed, the entire world cares

    for anyone to claim that canada is the equal to that of the united states is.. delusional
  512. Doctor Demento from Canada writes: Man - it is AMAZING how envious you Americans are of a small country that just seems to do so many things better than you do. The fact that you can't leave this thread alone just proves my point . . .
  513. MyCanada MyLove from Canada writes: ....

    What's with an article being featured for over a month.
    Are G&M employees invested in bank stocks?

    I've recently returned from Australia/NewZealand
    and my impression is, their state of economy is as good if not better
    than Canada's. It seem as though they are just starting to take
    notice of "technical" recession as Canadians did in September '08.
    Life is still vibrant in Melbourne and the Sunday market along the
    Yarra very lively. Their Formula One Grand Prix in preparation as we
    departed. Quanta Airbus 380, AirCanada can only dream of, are
    impressive. Very nice wine and delightful coffee. Very difficult to find
    thin coffee like TimHorton's. I didn't sense much concern regarding
    their banks ... at least at the street level. Construction holding its own I believe, properties still very expensive, and stable employment
    situation ... unlike massive re/dis/locations experienced in Canada.

    I've noticed a few posters from Australia.
    Hi! ...would you folks care to agree or disagree with my comment?

    Regards MCML
  514. Leo Szilard Jr from Hungary writes: Dr. Demento writes: "I know the subject well and I KNOW I am correct unlike the Hungarian guy".

    What?

    Everything I have written on this board is correct.

    Dr. Demento, with his potty mouth, does not seem representative to me, at all, of the Canadians I have met (who were mostly very nice and down to earth). Maybe for some reason occasional Canadians and Americans have some sort of burned-in bigotry problems of some sort, with each other.
  515. teddy bear from United States writes:
    canadians talk about how the canadian system is a model for the world. yet the government is actively involved in trying to get the banks to lend more

    canadians crow about the supposed soundness of the canadian banking system as inspiring envy. yet you complain about the high banking fees you are charged

    it's obvious that in claiming to be the envy of the world, that you are ditching some of your principles to do so

    canadians are in no position to say that americans are envious

    rather this weak attempt at national pride is indictment of the chronic lack of self respect that afflicts you canadians

    sucks to be you, canada
  516. Doctor Demento from Canada writes: teddy bear - sorry but your envy becomes more obvious with each subsequent post. The fact that you are still posting simply proves my point . . .
  517. mirroring the psychopathic posts from Canada writes: Doctor Demento - sorry but your envy of America becomes more obvious with each subsequent post of yours. The fact that you are still posting simply proves that point...
  518. mirroring the psychopathic posts from Canada writes: The fact that Doctor Demento is still writing on this month-old thread just proves the point - that he is envious of America - see how long we can keep it going... he will deny the obvious of course...
  519. Brian Pelican from Denver, United States writes: What a sorry creature Demented is - an embarrassment to Canada.
  520. teddy bear from United States writes:
    demento is a manifestation of the inferiority complex that simmers in the canadian psyche

    he criticizes americans for being too obsessed with sports... yet he wonders aloud why canada doesn't get more medals when the olympics are held

    he criticizes american culture as being too shallow, too superficial.. yet he watches our movies, listens to our music, reads our newspapers and books

    he criticizes americans for causing much of the world's problems... yet at the same time he, along with the rest of canada, and the canadian media, swoon when obama visits ottawa for a few hours

    demento has to compensate for his inadequacies by standing up to the americans.. inadequacies that are a result being a canadian...

    demento has to stand up to the americans.. even if it means diminishing or demeaning himself in attempts to do so

    what a sad little man demento is
  521. Michael S from Canada writes: Peter Dyck from Winnipeg, Canada writes: A good synoposis of the five banks. Good governance, measured risk taking and a composition of a competent management team along with directors performing and taking their jobs seriously goes a long way to keeping an entity out of the ditch. Let's make a note lest we forget.

    -----------------------
    LOL. You're nuts. These savages (bankers) were foaming at the mouth all through the 90s and early 2000s trying to merge their sorry a--es, only to be blocked by intelligent, prudent fiscal managers like Chretien and Martin and their Liberal Party, who just so happen to know how to govern a country and run an economy. The only reason the banks didn't merge once the pro-merger Stephen Harper Conservatives got into power is because the opposition (Liberals, Bloc and NDP) would have banded together in parliament and blocked any legislation allowing them to merge. We all know the Reform/Alliance/Conservatives of Harper and Manning were also foaming at the mouth in anticipation of one day allowing the big banks to merge.

    So get real man. The credit shouldn't be given to the arrogant, greedy bankers, it should be given to the good guys, Chretien, Trudeau and Martin.
  522. Doctor Demento from Canada writes: I see that Pelican and teddy bear continue to display their envy and obsessive-compulsive defense against any suggestion that Canada does so many things better than the US. I am glad they still continue to post their lies though as it will keep this post going and simply prove my point.

    Keep at it boys. BTW - it looks like the biggest US company, General Motors, is preparing for bankruptcy protection.

    You know what they say "As GM goes - so goes the nation" . . .
  523. mirroring the psychopathic posts from Canada writes: The fact that Doctor Demento is still writing on this month-old thread just proves the point - that he is envious of America - see how long we can keep it going... he will deny the obvious of course...

    Doctor Demento, always in denial about his envy, has an inter-twined obsessive-compulsive insecurity that drives him to post and post - he has already posted over 40 times on just this one board.

    Over 40 times!

    Classic OCD.
  524. Doctor Demento from Canada writes: Keep it going psycho- you seem to be an envious American poser in any event. Let's see how long we can keep this going . . .
  525. Doctor Demento from Canada writes: Anybody who would go back through over 500 posts and count how many I made, but neglect to count Pelican's, obviously has an agenda - and a lot of idle time on their hands . . .
  526. Trev C from Orleans, Canada writes: Demento. Don't take what the Pelican says to too seriously.

    His 'facts' are rarely factual.
  527. Brian Pelican from Denver, United States writes: Trev, baby, point out the factual errors - if you can.
  528. Power Engineering from Crescent Park, Canada writes: Doctor Demento from Canada writes: "Anybody who would go back through over 500 posts and count how many I made (has) a lot of idle time on their hands".

    Is Demento computer illiterate and/or stupid?

    It takes seconds to do such a count on a Mac computer.

    Maybe Demento himself still uses a slide rule... or a pile of rocks....

    Kind of funny, though, Demento, who has obsessively written nearly ten percent of the posts on this board, is now actually trying to accuse others of having a lot of idle time on their hands...
  529. Brian Pelican from Denver, United States writes: Kind of funny, though, Demento, who has obsessively written nearly ten percent of the posts on this board, is now actually trying to accuse others of having a lot of idle time on their hands... \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ Typical of Demented, smoke and mirrors, sleight of hand, now you see it now you don't.
  530. teddy bear from United States writes:
    demento is the kind of person who criticizes americans for being too jingoistic and blindly patriotic..

    .. and yet he gets excited and wets his pants when an I Am Canadian beer commercial - made by americans - is aired on canadian tv

    seeing canadians abandoning their principles to act like the uncivilized neighbors we americans are - over a beer commercial no less - was highly amusing... and illuminating

    inside every canadian, is an american itching to break out
  531. John Gordon from Canada writes: Interesting how many people are too scared to use their real names on this board. It would add a lot of credibility if you did.

    I would imagine you are either wasting time at work and don't want to get caught or you are not at all confident in of what you speak. Based on a lot of the idiotic comments I would guess it is more to do with lack of confidence.

    Other than Brian Pelican of course who is self stated to be in a high power job however hopefully he has the day off as he seems to be obsessed with overindulging us with his absolute ignorance of most everything he types.

    I as well have traveled extensively around the world and can't say I share the same experience as others here. If the main criticism is that we are bad tippers.......I think that is something we can live with.
  532. B V from Canada writes: Hey Teddy Bear from the U.S.
    It is very easy for a Canadian to become an American. All we have to do is get fat, eat with our mouth open, lower our IQ and turn into a schoolyard bully.
    Believe it or not Teddy Bear, there is life outside of the trailer park, and the notion that Canadians want to be Americans is so sad it is laughable.
  533. B. Gillison from North York, Canada writes: Question: What is the difference between a bigot and the guy named "B V from Canada"?

    Answer: Nothing.
  534. Smoking Man from Dyslexic side of the moon, Canada writes: Not to long ago when I was a slave (someone with a job) I worked in Canada and the USA, To tell you the truth, I did not find one bit of difference between the two, the vast majority of Americans and Canadians have very little brain matter between their ears, The small majority are very bright in both countries. I worked with many software developers from INDIA who had an abundance of certificates and degrees and code so long as you told them what to do, figuring out the hard stuff proved to be difficult for them. The old school coders Canadian or US where good, not to many of us left.

    So why all this bickering folks. USA vs CANADAIAN mirror image.
  535. B V from Canada writes: B. Gillison --- ouch, you really nailed me there. good one. You certainly set me straight.
  536. teddy bear from United States writes: It is very easy for a Canadian to become an American. All we have to do is get fat, eat with our mouth open, lower our IQ and turn into a schoolyard bully

    Believe it or not Teddy Bear, there is life outside of the trailer park, and the notion that Canadians want to be Americans is so sad it is laughable - BV


    you know something - canadians watch our shows, listen to our music, read our books and... eat our food

    obesity is not something isolated to the US only... it's something common in canada too

    google.com/hostednews/canadianpress/article/ALeqM5gmQaJxub2FAUvxeECFyXD6tPrsZw

    i don't judge canadians by what they say, but i judge them by what they do... and canadians are getting fat. by their own volition

    you said all canadians have to do to become american is get fat. well it's happening... and further proof that, inside every canadian is an american itching to burst out

    god bless america everyone
  537. Doctor Demento from Canada writes: U.S. Bank/mortgage/insurance/ financial company failures in 2008: 30

    Canadian Bank/mortgage/insurance/ financial company failures in 2008: 0

    Canada wins. America is envious . . .
  538. B. Gillison from North York, Canada writes: What are you Doctor Demento, like eleven years old?

    Because if you are not, I would fear for your sanity.

    "America is envious?" Sure, and like nations have emotions. And, further, like "America" is represented by a few twits there typing on a Globe chat board.

    Yo-oiks. Give yer head a shake.
  539. Doctor Demento from Canada writes: Keep the thread going boys. What's your problem?
  540. teddy bear from United States writes:
    demento likes to harbor this notion of superiority of canadians to americans

    he believes americans are ignorant, unlike canadians who happen to be better informed about world affairs and foreign cultures. god knows i hear that from canadians all the time

    .. yet he asserts that americans are jealous of canada, because of the canadian banking system

    yes, those ignorant americans, who know nothing about anything foreign, are jealous of canadian banks. the very same americans, that canadians often complain are ignorant about canada

    think about this for a second

    demento's hypocrisy is stunning. he's a flaming hypocrite - he can't put two statements without contradicting himself

    what an idi0t
  541. blue sea from United States writes: Going back over the past bunch of posts, it seems that this article's comment board has devolved into a tit-for-tat squabble that does no rational reader any service. That said, it is REALLY ODD to me that this article has managed to remain about the most popular one at the G&M for over a month now. Are Canadians STILL clicking on this article in these huge numbers after some 40-odd days? Are they re-reading this thing, completely entranced by the title that implies that Canada has generated global envy (not "admiration" or "respect", mind you, but actual envy). Someone earlier suggested that people around the world are clicking this article, but a general search of Google News' top hits, from a variety of national versions, don't pull this article. Frankly, I'm suspicious. I've never encountered at any other newspaper a piece that generated endless readership like this one supposedly does. Either G&M is somehow keeping this thing artificially alive, or Canadians are secret glory hogs who have found a written reason (this article) to indulge themselves endlessly. God forbid Canada discovers a cure to cancer, if only because we'd never ever hear the end of it. One thing is for sure, I can tell you people are NOT reading this article after 5 weeks because of the comment board, which has become a joke.
  542. Doctor Demento from Canada writes: blue sea from United States asks "Are Canadians STILL clicking on this article in these huge numbers after some 40-odd days? Are they re-reading this thing, completely entranced by the title that implies that Canada has generated global envy (not "admiration" or "respect", mind you, but actual envy)."

    Seems to me that there is an equal number of Americans continuing to read this CANADIAN thread - mesmerized by the fact that Canada's banking sector could be so much better than the USA's and so worthy of their envy . . .
  543. Brian Pelican from Denver, United States writes: What a pathetic creature Demented is. I think he actually believes the twaddle he speaks. How a person can live their life the way he does based purely on who and what nation he THINKS is envious of him and his country - beats me. Must lead a sad life if that is what it is based on.
  544. Doug T. from Nelson, Canada writes: I'm not surprised by upturn in banking industry. My web page mutual fundwealth has posted financial services equity mutual funds as a top performance fund for the past couple weeks.

    Doug T.....The mutual fund guy
    http://www.mutualfundwealth.com/
  545. Robert Loblaw from Canada writes: This story is over a month old. Why is it still running?

  546. Prsn Nep from Canada writes: How is it possible that this story is still the most viewed on G&M?!
  547. Brian Pelican from Denver, United States writes: Prsn Nep from Canada writes: How is it possible that this story is still the most viewed on G&M?! \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ I guess because the G & M realises that Canadians want to read time and time again that they are envied - by whom I don't know - but I am sure that doesn't matter, one can always dream
  548. j boland from United States writes: Actually, what Canada still has it what the US always had for a long, long time.

    Then, once upon a time, in the US of A that old wolf in donkey's clothing said "Let's be nice and fair and equitable and make those evil banks lend money to people who can't afford them. Those poor folks are not poor because they made stupid personal decisions but because of the double evil capitalists everywhere."

    And so, the legislators sworn to represent all the people decided to ignore all the people to help out those who were down on their "luck." And thus good intentions began the downfall of the US banking system.

    Actually it was not good intentions at all, but an ideology of envy and destruction and crime, to buy votes for all those donkey guys.

    And so it happened, and now Grandpa bear whispers to the little bears of the time long ago when the land was full of people who worked hard and enjoyed freedom, whispering so that big brother can't hear.
  549. j boland from United States writes: ...is what...
  550. teddy bear from United States writes:
    canadians enjoy engaging in a kind of mental masturbation

    anything that portrays themselves in a favorable light, especially in comparison to americans, will get a lot of attention

    nothing is off limits... it could be living standards rankings by some UN study group.. it could be some beer commercial (my name is joe)... or it could be something as utterly arcane as the merits of the banking system

    canadians will eat this up and remind anyone willing to listen about how great they are... because someone said so!

    canadians are such sheep. baa baa
  551. Brian Pelican from Denver, United States writes: Headlines in Canada today:

    1.Search continues for missing girl
    2.CanWest hit by writedown, imperils loan terms

    3.Welcome to the he-cession
    4.18-year-old can seek custody of brothers in brainwashing battle
    5. Why Quebeckers should be worried
    6.18 years, overbudget, still no hospitals
    7.Ottawa faces pressure to align with U.S. on green plans
    8.The layoffs keep coming
    9.March retail sales fall

    Wow, a lot of reasons not to envy Canada
  552. Bobcat 64 from Halifax, Canada writes: I love Americans who come on and bash Canadians. Yes we are all so envious of Americans. Oh to be like you. I lie awake every night wishing that I was not a "sheep" from Canada - NOT. Sorry I would much prefer to live in a Country where murders are still front page news and that I can still go out and get a mortgage and a loan if I need it and because I qualify for it. The Auto industry is in shambles because of the mismanagement of Americans with their holier than thou attitude. You have a sense of entitlement and that is what got you in the mess your in. Please clean up your own backyard before you come into mine and start making offensive comments.
  553. Brian Pelican from Denver, United States writes: Oh, and I love you too. And what kind of grammar is this NOT at the end of a sentence - is that Canadian lexicon or just poor English - maybe both. Poor baby - you hate it so much that Canada is so dependent on the US branch plants and US retail chains. What would Canada be without the US - God knows. No wonder 80% of Canadians are pressed against the US border looking south for their daily bread. Yes, Canada is sooooooo special - in your minds.
  554. Taking Tea from Love that Red Rose, Canada writes: Bobcat from Halifax, if you scroll up and read the post (06/04/09 at 11:22 AM) you will see that it was Doctor Demento from Canada who turned this board into a slug-fest of bigotry against people.

    It is like with a pig to sh-t, with Doctor Demento to this crap.

    As noted in that earlier post:

    "It was at that point the Winnipeg fellow threw a big fist of bigotry, with: "How odd then that just about EVERY American (including Pelican) likes to refer to the USA as the greatest country in the world - How parochial of them..."

    That comment, stereotyping Americans and calling Americans parochial and associating Americans with oddness, that comment was where the nasty bigotry began against PEOPLE. Before that, as detailed above, the barbs had been focused on the headline and on the countries."
  555. Brian Pelican from Denver, United States writes: Taking tea - a breath of fresh air. The santimonious attitudes of many Canadians on these boards drive me crazy - always protraying Canada as something so special that is only apparent in their minds
  556. Sigmund Freud from Austria writes: Taking tea writes that "it is like with a pig to sh-t, with Doctor Demento to this crap".

    I disagree with that analysis in the case of Doctor Demento.

    It is more like the manipulative man with the antisocial personality disorder, who begins by rushing running in to a crowded party with his pointy elbows held up. And when fist fights follow, from the surrounding men who hit back because he has just smashed their jaws hard with his pointy elbows, the man acts all shocked and innocent and surprised, pretending he is just an innocent bystander guy who cannot believe how aggressive the party folks are.

    It is pretty classic behavior for antisocial personality disorder, actually, a disorder that has been well characterized over the years.
  557. L M87 from Calgary, Canada writes: Before we pat ourselves on the backs, I would just like to point out that the Canadian banking industry was moving towards a zero down mortgage. There may have been some of those products available. there definitely were 5% down products with amortizations stretched out forever. Not as risky as we saw in the states, but still pretty darn close. In a couple of years, those products will be coming up for renewal. If the banks require an appraisal of those homes and if prices don't recover, we'll see some foreclosures.
  558. Roger Egert from somewhere, Canada writes: blue sea from United States writes: ...... Are Canadians STILL clicking on this article in these huge numbers after some 40-odd days?......

    -----------------

    Excuse me?

    From the looks of it apparently American readers are. And that's pretty sad state of affairs.

    Awww, miss the attention? Disbelief?
  559. Jean Fiskel from somewhere, Canada writes: That last film review was off the mark.

    Because, excuse me?

    Twenty-three of the last thirty-eight posts were from folks from Canada.

    That is, most of the posts were from folks from Canada.

    Roger messes up sometimes. Crap, he hated "Flashdance" for crying out loud. How can anyone hate all that fine scenery and super sound?
  560. Brian Pelican from Denver, United States writes: "At the very start of the Great Recession, way back in September, British Columbia was a bit like a rubber-necking driver arriving at a nasty collision intensely interested in the pileup, but not directly affected. Now, the rubber-neckers have gone on to have their very own collision. The employment picture from Statistics Canada yesterday now puts B.C. at the centre of the Canadian recession, as the construction industry folds in on itself". \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ I just love it!!
  561. Bobcat 64 from Halifax, Canada writes: Brian Pelican, are you still here.

    Taking tea - a breath of fresh air. The santimonious attitudes of many Canadians on these boards drive me crazy - always protraying Canada as something so special that is only apparent in their minds

    ...........................................................................................................

    I know Americans are never santimonious. Americans are forever portraying themselves as being something so special. One thing I have over you is it really is only in your mind. The world does not agree with your perception of yourself. Hate to tell you bud but the world does portray us as being superior to you in terms of being real. Can't wait for the grammar lesson for using the word bud....
  562. Bobcat 64 from Halifax, Canada writes: Taking Tea from Love that Red Rose, Canada writes: Bobcat from Halifax, if you scroll up and read the post (06/04/09 at 11:22 AM) you will see that it was Doctor Demento from Canada who turned this board into a slug-fest of bigotry against people. It is like with a pig to sh-t, with Doctor Demento to this crap. As noted in that earlier post: "It was at that point the Winnipeg fellow threw a big fist of bigotry, with: "How odd then that just about EVERY American (including Pelican) likes to refer to the USA as the greatest country in the world - How parochial of them..." That comment, stereotyping Americans and calling Americans parochial and associating Americans with oddness, that comment was where the nasty bigotry began against PEOPLE. Before that, as detailed above, the barbs had been focused on the headline and on the countries." .......................................................................................................... I don't believe that all Americans are as arrogant and self-righteous as Brian Pellican, but I also will defend Canadians from these ridiculous comments. Yes I am incredibly proud to be Canadian, despite the uneducated comments from those from the States. When Americans become as educated about Canada as we are about the States than I may think diffently.
  563. David any from Loon-A -Tick, Canada writes: End this thread. What is the point?
    End it.
    The End................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
  564. Doctor Demento from Canada writes: The fact that we have still have continuous posts from Americans like Pelican, teddy bear and boland just proves that the article is correct. Americans are extremely envious of our banks. If they weren't, they wouldn't keep extending the longevity of this thread . . .
  565. Brian Pelican from Denver, United States writes: Demented doesn't like the portrayal of his supposed holiness by a few Americans who have cottoned on to his getup. Yes, the few American posters are enough to keep this thread in top spot? As Canadians would say at this point - NOT. Count the posts and see if the G & M are honest about this receiving the most posts. About as honest as Demented.
  566. Doctor Demento from Canada writes: Keep going Pelican; apparently you are too stupid to realize that you are proving my point - rotflmao . . .
  567. Brian Pelican from Denver, United States writes: rotflmoao Oh dear, Demented uses slang used by the typical adolescent. Impressive!
  568. Doctor Demento from Canada writes: Keep it going Pelican - with each subsequent post you continue to prove my point . . .
  569. Brian Pelican from Denver, United States writes: I do, Demented, how so?
  570. Doctor Demento from Canada writes: My pseudonym is Doctor Demento not "Demented". Unless you want me to refer to you as Birdbrain, I suggest you rethink your stupidity . . .
  571. Brian Pelican from Denver, United States writes: Ah, Demented, avoids the question - you are demented though, aren't you????
  572. Doctor Demento from Canada writes: Well I guess I am glad that birdbrain has continued this thread . . .
  573. Brian Pelican from Denver, United States writes: We are glad that Demented is glad
  574. Canadian born liberal-conservative Muslim from Ottawa, Canada writes: Our American friends are right. Canadians have such an inferiority complex that it is so embaressing. Why is this article the 3rd most popular article right now after over a month? I was at Newark airport when I overheard a conversation from two Saskatchewan teenagers bragging to an American about how Saskatchewan has the most uranium in the world and how a Canadian invented basketball. OMG. Weird Canadians.
  575. teddy bear from United States writes:
    you canadians not only have an inferiority complex that burns inside.. you harbor a moral arrogance*, an arrogance that you supposedly modest canadians are *eager to express

    canadians unreservedly blamed america for september 11, believing we brought it upon ourselves, inciting hatred that led to the awful events on that day

    god knows you canadians were smug at the time thinking we don't have to worry about terrorist attacks up here .. hell this attitude was even articulated and reported on the news

    .. then bin laden come out of his cave, list the countries hostile to al qaeda, of which canada was mentioned as one of them. and this was before canada got involved in afghanistan

    so much for your moral superiority

    you canadians like to articulate your place in the world... you're well liked, respected abroad, and have a peacekeeping and humanitarian reputation... unlike those americans, who are arrogant, ignorant, and hated everywhere. god knows i hear that all the time

    .. and then canadians find out, to their dismay, that a terror cell had been set up in vancouver, and then dismantled. of course, canadians continue to blame americans for unrest in the world, the cause of which is undoubtedly belligerent american policies!

    so much for your moral superiority

    it goes to show you, canadians are among the most insecure, yet arrogant people on the face of this earth

    i don't know how you guys live with yourselves

    if you want respect, recognize that you have to earn it. public displays of ignorance and arrogance, supposedly at our expense, just won't cut it

    god bless america everyone
  576. teddy bear from United States writes:
    so yeah...

    i have to agree with pelican - the sanctimonious, holier than thou attitude of canadians is totally moronic

    if there ever has to be a case of institutionalized stupidity, this has to be it
  577. Brian Pelican from Denver, United States writes: Thanks guys - you said it all. I need to stop posting with that idiot Demented. It is a total waste of time as he is at the extreme end of the Canadian arrogance you mention. What is more - not only is he deluded - he lies knowingly to make his "case".
  578. mark berry from writes: Canadians and Americans are pretty much the same. Except Canadians have a better healthcare system, better educational system, less crime, less pollution, a higher standard of living and are liked around the world. But, otherwise the same.
  579. teddy bear from United States writes: Canadians and Americans are pretty much the same. Except Canadians have a better healthcare system, [SNIP]

    when canadians say that health care is better in canada, they don't really explain in what way it is better

    sure, everybody is covered. but that's not the whole story

    what does it really mean when people are left hung out to dry by a system unable to provide timely care for those suffering from debilitating conditions?

    being made to wait two months for treatment of cataracts is inhumane... having to wait two months to get an MRI for your knee, simply because it's not deemed to be life threatening, is utter nonsense. what if the choice of rehab or physiotherapy depends on the result? what about the risk of aggravating the condition while waiting for treatment?

    also for advanced diseases, people invariably seek treatment through private sources (e.g. the united states), because the canadian system is unable to provide it

    making people wait for treatment, most of whom by the way can afford insurance anyways, is not the answer

    saying health care is 'better' is another one of the mindless platitudes that canadian humanoids spew, without giving any real thought as to what they are saying

    and they say canadians are more intelligent than americans? yeah right - intelligent canadians my butt
  580. Bobcat 64 from Halifax, Canada writes: This will actually be my final comment because I find it incredibly frustrating talking to uneducated, backwater, losers. Teddy Bear please have a great night sleep knowing you are so incredibly wonderful because you are an American. Have a great sleep knowing that people on the wrong sides of the track are dying because you as an American have decided that having money has defined you as a much better person that those that do not. Congratulations, you are the envy of the world. Congratulations that you are so far in debt that you have managed to impact everyone, in every part of the world. Congratulations that your fellow Americans are living on the street because YOUR BANKS, screwed up. Sorry bud, but I do care about my fellow Canadians, I do care if they are impacted by lack of healthcare, or lack of housing. I know that is foreign to you, but not in my city, not in my Province and certainly not in my Country. Sleep well dear friend.
  581. Brian Pelican from Denver, United States writes: Oh, Bobcat - p!ss off with your holier than thou attitude - that is what people find so detestible about Canadians. Their only news is from CBC which trumps up any negative story on the US. If there is a poverty issue or cheap housing in say Detroit, it is extrapolated throughout the country. I have lived in both countries for an extended period of time and I find Americans to be a far more charitable group of people than Canadians who are largely just good with the mouth about how wonderful they are. The Americans who post here are not here to denigrate Canadians per se, but are here to put down the more arrogant posts by Canadians who are so wrapped up in themselves. No wonder when the recent poll was conducted in the UK and people were asked what reminded them of Canadians and Canada - 80% of them said nothing - nothing, came to mind when Canada came up. Americans don't have to try to build themselves up - they know who they are in the world
  582. Brian Pelican from Denver, United States writes: mark says "mark berry from writes: Canadians and Americans are pretty much the same. Except Canadians have a better healthcare system, better educational system" \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ My @ss, Mark. 85% of Americans have health insurance in some form or another, either through their employers, medicare, medicade or personal insurance. Of the remaining 15% a sizeable portion are illegal. There are some hard luck cases without doubt, but Canadians love to extrapolate those cases as being the norm. Helps them justify their astronomical taxes. What the hell are they going to do when a national health care plan is fomulated here that rationalizes medical care like it is in Canada. Move on to the next thing about how they are superior. I know a number of Canadians who have said the national plan plan is fine until you get sick - then you hunt for specialized care. What about dental care not covered in Canada - would do wonders for the many Canadians you see who could finish off corn on the cob with one bite with their splayed teeth. What about prescription drugs also not covered until you are 65 in Canada - are those a luxury? Why don't you bugger off until you really have a plan that is the "envy of the world". You sure don't have it yet - and that is from personal experience
  583. Doctor Demento from Canada writes: Brian Pelican from Denver, United States writes "Oh, Bobcat - p!ss off with your holier than thou attitude - that is what people find so detestible about Canadians."

    Actually it is Americans who are pretty well detested around the world, not Canadians - Pelican apparently hates himself because he claims to be a Canadian.

    Ugly American is a term that didn't arise by accident . . .
  584. Doctor Demento from Canada writes: Brian Pelican from Denver, United States writes "No wonder when the recent poll was conducted in the UK and people were asked what reminded them of Canadians and Canada - 80% of them said nothing - nothing, came to mind when Canada came up."

    Birdbrain keeps bringing up this poll which proves that Canadians are not disliked in the UK. In another poll 75% of Brits believed that George Bush was more dangerous than Osama bin Laden . . .
  585. Brian Pelican from Denver, United States writes: What is really amusing is that when Demented comes up with a list of standalone Canadian companies, he produces the following - Bombardier, New Flyer Industries, AECL, Research In Motion, Dofasco, Stelco, SNC, Golders, Agra, Palliser, Kitchencraft, HBMS, Great West Life, Investors Group, INCO, Canadian National Railways, Canadian Pacific Railways, Air Canada, Standard Aero, Zellers, The Bay, Canadian Tire . . . " That's it for a G7 country??? 2 railways, an airline about to enter bankruptcy, an insurance company, a couple of steel manufacturers, the maker of buses, the maker of kitchen cabinets, an aircraft engine REPAIR company, the maker of a cell phone, 3 department stores. About the only one engaged in leading edge technology is Bombardier and they are so heavily subsidised by the Canadian government that it is doubtful they could survive in the private sector on their own. It is laughable and the real big gaffaw is that it is put forward with pride. My God, wonders never cease!
  586. teddy bear from United States writes:
    bobcat

    it's funny how you try to lecture us on our health care system

    canada's Dirty Little Secret is that its health care system is actually a two tier* system... a *two tier* system despite claims and misinformation perpetuated by your government and the liberal media

    ever wonder why one never hears of recently injured NHL players like daniel alfredsson or dion phaneuf being put on waiting lists? it's because they're serviced by *private
    medical interests

    a two tier system has existed for a long time in canada... a two tier system where ordinary people are served by the public system, and the millionaire athletes - and the well to do - are served by the private system... without the waiting lists ordinary people have to put up with

    you have to love the irony - canadians here are telling us how inhumane the american system of health care is...

    canadians like bobcat64 have to be the biggest, dumbest, and most ignorant hypocrites to lecture americans on our system of health care... you would do well to look at the injustices of your country first before telling us about ours

    the moral arrogance of canadians knows no bounds. bobcat is just the latest example of this
  587. Doctor Demento from Canada writes: Wow - I never realized that some Americans were so jealous of our peaceful little country - it blows my mind . . .
  588. Brian Pelican from Denver, United States writes: Yeah, we are jealous of a country with the pathetic list of standalone companies you provided. Canada -so peaceful with the US standing alongside. Your fellow compatriots must wonder why you don't shutup you are such an embarrasment to them with your silly posts and claims
  589. Doctor Demento from Canada writes: Keep it going birdbrain - to quote a famous American "Go ahead - make my day" . . .
  590. A. Northbridge from Canada writes: Americans have been bragging about anything at anytime ever since I can remember.
    Americans would come over to their cottage here from Detroit with their biggest of everything and yuck it up about coming into a backward country of country bumpkins.
    Now I find out that all these big toys they had were all on borrowed money which has mostly fallen apart.
    I've travelled through the States and found it was a most beautiful country. At the same time when travelling through the awesome states of Kentucky and Tennesee I've seen some major derelict areas to a degree I have not seen in travelling across Canada.
    We need to stand above all of this and develop healthy relationships which will last forever.
    When Canada finally has something obvious to brag about with it's sound banking system then Americans should be glad for us instead of these degrading remarks. I'm sure that most Americans wouldn't make these kind of remarks.
    God Bless Canada, the true north strong and free.
  591. Brian Pelican from Denver, United States writes: I've seen some major derelict areas to a degree I have not seen in travelling across Canada.

    \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ Really, Northbridge, how about your First Nation tribal areas. I have personally seen incredible poverty, degradation and helplessness. Tell me another?
  592. teddy bear from United States writes: Americans have been bragging about anything at anytime ever since I can remember. Americans would come over to their cottage here from Detroit with their biggest of everything and yuck it up about coming into a backward country of country bumpkins

    oh god

    i find that canadians have this irresistible urge to brag to americans about canada their wonderful country

    better health care. better schools. better international reputation. and now banks... i hear this crap all the time from canadians

    who are you to say that americans are guilty of bragging?

    hypocrite!
  593. A. Northbridge from Canada writes: The first nations do have many problems because they live within a reservation system. The reservation system has never worked and will never work.
    There are many success stories within withing our native Canadian culture as I'm sure there is within yours. The successes is what we build on and move on.
    I'm proud of our Native Canadians and the determination to preserve their heritage. The reservation system gives them many things but this doesn't seem to help them to move on into an integration into the main work force.
    I'm sure you have similar situations in your country with your first nations people but also with the ghetoized African American culture from which there is no escape.
    In the end we are no so different.
  594. A. Northbridge from Canada writes: To Teddy Bear I say: All I can say is to reflect the truth of most Americans, 80% not only brag but put down Canada. Believe it, it really happens because we are the receiving end of it.
    I can't see that we brag about our health system. We do pay for it in Ontario, 800 dollars through the income tax system and indirectly through our taxes. Yes, there is a two tier system to a certain degree. There are long waiting lines for some treatments. Yes we complain that it's not such a great system at times. But I've never really bragged about it to Americans. Americans have certainly told me that they wished they were not payin so much for theirs. 300 plus bucks a month is a lot.
    But in the end from the poorest to the richest the heart attack victim will be brought in for the right treatment.
    My son was in emergency at an Alabama hospital and he got class a treatment with very professional people. At the same time the cost came to over 3000 dollars for a straight forward emergency visit. It's a cost thing. Maybe you can tell me how you deal with this instead of ranting.
  595. Brian Pelican from Denver, United States writes: I'm sure you have similar situations in your country with your first nations people but also with the ghetoized African American culture from which there is no escape. In the end we are no so different \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ It is so ghetoized that we are the nation with an African American head of state - somehow he "escaped" as did his wife, both of whom went to Harvard. Canada???
  596. A. Northbridge from Canada writes: Secretly we don't mind if American come over and brag about their country.
    We do need your tourist dollars and we want to make you feel welcome.
    At the same time try not coming over from Buffalo New York in the month of June with snow skis on your car.
  597. Doctor Demento from Canada writes: Brian Pelican from Denver, United States writes "how about your First Nation tribal areas. I have personally seen incredible poverty, degradation and helplessness."

    "First Nation tribal areas"??? I assume birdbrain means indian reservations.

    There are just as many poor American natives. I personally have witnessed the poverty at indian reservations in South Dakota and New Mexico - and it is second to none. The Billy Jack movies were American not Canadian - once again Pelican is clutching at straws . . .
  598. Brian Pelican from Denver, United States writes: A. Northbridge from Canada writes: To Teddy Bear I say: All I can say is to reflect the truth of most Americans, 80% not only brag but put down Canada. Believe it, it really happens because we are the receiving end of it. \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ Frankly, Northbridge, i don't believe you. Americans have no need to brag - they live in the economic powerhouse of the world, it's only superpower, and the inventor of the PC you are currently using, the internet you are currently using, GPS which your airways use, DNA, which your police use, medical technology and procedures which your hospitals use, spacecraft which your astronauts are occasionally invited to travel on, entertainment which is on your televisions and moviehouses - and these are all recent, let alone the other inventions which you take for granted. Citing these is not bragging - just stating facts, unlike your bretheren like Demented, who blather about matters of inconsequence.
  599. A. Northbridge from Canada writes: To Pelican: Yes Praise God but not all African American are so lucky. I'm sure you realize that. I'm sure you realize the hate that's still there for African Americans in the southern states. This I've experience first hand.
    By the way, stop bringing your guns over here. It's killing us.
  600. Doctor Demento from Canada writes: Brian Pelican from Denver, United States writes "It is so ghetoized (sic) that we are the nation with an African American head of state"

    Something that Pelican did everything in his power to prevent, and a president who Pelican despises, as opposed to Dubya who was just right for birdbrain . . .
  601. Doctor Demento from Canada writes: Pelican once again claims that the USA invented DNA. What an ignorant knob the man is - and clearly very envious of Canada . . .
  602. A. Northbridge from Canada writes: To Pelican: Only half of what you say is even close to the truth. Canada is at the fore front of computer technology.
    The Canadaarm for the space shuttle is 100% Canadian technology.
    Our Nuclear generating system, a 100% Canadian technology is the best in the world. Many countries are on the waiting list for this. The American nuclear generating system is flawed when it comes to safety.
    Buy ours it's safer.
    The tar sands we have is a technology not even found in your country.
    I could go on and on but then I would be bragging like you just admitted to doing with your ranting.
  603. Brian Pelican from Denver, United States writes: By the way, stop bringing your guns over here. It's killing us. \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ Northbridge, your drug trade in Vancouver and elsewhere, attracts the purchase of guns (we don't "bring" them over), your gangsters buy them. Guns don't work very well without a human hand operating them - just remember that. The Vancouver street murder rate which is up 75% this year over last is not Americas fault as you no doubt would put it. When are Canadians going to grow up and deal with their own problems instead of blaming someone else - oh, they made me do it. It is a pathetic cop-out and as soon as Canadians learn that, they MAY develop a country of their own that is not dependent on the US. However, given the childishness I see on these boards, I am not that hopeful.
  604. Brian Pelican from Denver, United States writes: DNA TECHNOLOGY Dr. Leroy Hood ended up in Seattle partly because his academic superiors in California thought he was too much of a gizmo guy to fit in with his colleagues in biology. Today, Hood will be honored for developing the gizmo that launched a revolution in biology -- the automated, computerized DNA sequencing machine that made the massive Human Genome Project possible. Hood The 64-year-old bullheaded but soft-spoken scientist is in Boston to receive the 2003 Lemelson-MIT Prize for invention and innovation. The award, sponsored by the Massachusetts Institute of Technology, recognizes Hood for his role in creating the critical tools needed to decipher the human genetic code. "This is an acknowledgement of how important information technology is to the study of biology today," he said. "Biology is, at its heart, a digital science." Hood came to the University of Washington in 1992 from the California Institute of Technology in Pasadena, Calif., to help build up the medical school's expertise in genomics and recruit new talent. He left the UW in 2000 to form a non-profit, private research firm in Seattle called the Institute for Systems Biology. Located at the north end of Lake Union, Hood's institute is focused on developing more precise gene-based approaches to treating and preventing disease. Without automated sequencing technology, deciphering the 3 billion base pairs in the DNA that make up the human genome would have been impossible. Hood and his colleagues, who collaborate with scientists at the UW and the Fred Hutchinson Cancer Research Center, are especially interested in applying their techniques to studying how proteins function dynamically within the body.
  605. A. Northbridge from Canada writes: Pelican: You got it all wrong again.
    These guns are being exported across the border by your gun factories and being put in the hands of not only criminals but ordinary people.
    Please keep these guns in your own country where it's normal to carry a gun.
    In Canada we can safely brag that it's not normal to carry a gun.
    Keep your guns on the other side of the river.
    I've seen the mega gun sale expos.
    It's sick.
  606. A. Northbridge from Canada writes: Frederick Banting from Canada developed insulin.
    Again I could go on and on and brag like you are but then you say you are not really bragging.
    Give it up already.
  607. Doctor Demento from Canada writes: Pelican apparently meant that Americans were the first to use DNA profiling in forensics - not that DNA was invented by an American as he claimed.

    Of course Pelican is WRONG as usual.

    DNA profiling was developed in 1984 by British geneticist Sir Alec Jeffreys, and first used in forensic science to convict Colin Pitchfork in the 1988 Enderby murders case.

    I am anxiously waiting Pelican's retraction and apology . . .
  608. A. Northbridge from Canada writes: You say "Biology is, at its heart, a digital science."
    What an odd statement.
    I thought Biology was a cellular science.
    Duh
    You can apply digital to almost anything.
    Duh
  609. A. Northbridge from Canada writes: I think Pelican is copying and pasting stuff from the internet in general without really thinking what he is doing.
    Give it up Pelican.
    Your ranting and raving in a non sensical manner is a discredit your many good fellow American citizens.
  610. Doctor Demento from Canada writes: Pelican keeps harping about the "high" murder rate in Vancouver. In 2008 Vancouver's murder rate was 2.41 per 100,000 which is lower than any major US city with the exception of Honolulu. Denver had a 2008 murder rate of 8 per 100,000 - where would you rather live . . . ?
  611. Doctor Demento from Canada writes: A. Northbridge; Pelican is quite a troubled individual. He automatically ASSUMES that all significant inventions and scientific breakthroughs were made in the USA and he refuses to admit that other countries do some things better than the US does. He clearly suffers from some form of obsessive-compulsive disorder . . .
  612. Brian Pelican from Denver, United States writes: A. Northbridge from Canada writes: Pelican: You got it all wrong again. These guns are being exported across the border by your gun factories and being put in the hands of not only criminals but ordinary people. \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ You don't get it do you. Did you finish high school? Because you are not coming across that way. Do you realize how pathetic you sound? Americans "put" guns in the hands of ordinary Canadians? Well, let's see - they walked up to innocent Canadians who resisted with all their power but they managed to "put" the guns in Canadians hands. Poor babies - they didn't know what was happening and lickety split they had a gun which they didn't want and didn't pay for - they got the guns for free. That all sound about right to you. Grow up and get out from under your motherr's skirt, for Christ sake. I sure hope you don't have any children who need to learn about personal responsibility because you certainly haven't.
  613. Brian Pelican from Denver, United States writes: A. Northbridge from Canada writes: Frederick Banting from Canada developed insulin. \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ Well, whoop-de-doo. When was insulin invented - 1922 - yes, almost 90 years ago!! is that the most recent major invention you can come up with?? There was a time when Canada was a country of substance - like right around 1922 - but since WW2 -forget it. It is now inhabited with indiduals who claim that Americans are "putting" guns into unsuspecting Canadians hands. Give me a break!!
  614. Doctor Demento from Canada writes: Brian Pelican from Denver, United States writes "Do you realize how pathetic you sound?"

    A. Northbridge doesn't sound anywhere near as pathetic as Pelican - birdbrain lied about the development of DNA profiling . . .
  615. A. Northbridge from Canada writes: Using Christ's name in vain at this Easter time is your last hurrah.
    What a sensless dribble.
    I'm 10-4 over and out.
    I have to go on the treadmill, workout and do some good.
    Thanks to Dr. Demento for some good insight.
    God Bless Canada, the true north strong and free.
  616. Brian Pelican from Denver, United States writes: But, my boy, Vancouver's homicide rate is up 75% so far this year. that puts it at almost 5 whereas denver's is falling. Another 75% increase would put it over 8. Poor baby.
  617. Brian Pelican from Denver, United States writes: Northbridge, run off and blame someone else if you trip on your @ss as you fall off the treadmill.
  618. Brian Pelican from Denver, United States writes: Seems Demented can't read. One is never so blind as he who will not see. Are you also afraid someone will "put" a gun in your hand - poor baby
  619. Doctor Demento from Canada writes: Brian Pelican from Denver, United States writes "is that the most recent major invention you can come up with??"

    1966 - instant mashed potatoes
    1986 - helicopter firefighting bucket
    1950 - first commercial jet airmail
    1960 - bone marrow compatibility test
    1946 - paint roller
    1930 - pablum
    1937 - electron microscope
    1938 - self-propelled combine harvester
    1976 - Ardox spiral nails
    1991 - Imax movie system
    1994 - Java programming language
    1973 - UV degradeable plastics
    1980 - Trivial Pursuit
    1933 - TV camera
    1946 - walkie talkie
    1950 - heart pacemaker
    1951 - Cobalt-60 bomb
    1952 - electric wheelchair
    1999 - BlackBerry smartphone
    1957 - electronic music synthesizer
    1957 - automatic postal sorter
    1983 - B&W film colourization
    1959 - Jolly Jumper
    1955 - TV instant replay
    1964 - Wonderbra
    1930 - electric organ
    1929 - snowblower
    1989 - discovery of cystic fibrosis gene
    1959 - alkaline battery
    1960 - polyethelene gargage bag
    1978 - canola
  620. Doctor Demento from Canada writes: So Pelican - about DNA being "invented" in the USA - anything to add loser.

    Vancouver is a far safer city than Denver and that is a fact . . .
  621. Brian Pelican from Denver, United States writes: Ah, amazing, they all stopped 30 years ago - my case rests. See my post at 10.16 on DNA. Poor baby. Someone given you a gun yet - i don't think you will answwer - too stupid a comment by your compatriot to believe
  622. Doctor Demento from Canada writes: Brian Pelican from Denver, United States writes "Ah, amazing, they all stopped 30 years ago - my case rests."

    Are Harvard MBAs all as bad at math as Pelican?
  623. teddy bear from United States writes:
    why do canadians always make a big deal about listing inventions invented by canadians

    listing canadian inventions is like wetting your pants - it's only a big deal to you, and nobody else cares
  624. Doctor Demento from Canada writes: Brian Pelican from Denver, United States writes "See my post at 10.16 on DNA."

    You mean the one that has NOTHING AT ALL to do with the development of DNA fingerprinting used in forensics which was invented by an Englishmen, Sir Alec Jeffreys.

    As usual you are wrong, wrong, wrong . . .

    http://www.answers.com/topic/alec-jeffreys
  625. Doctor Demento from Canada writes: teddy bear from United States asks "why do canadians always make a big deal about listing inventions invented by canadians"

    We generally don't, but when Americans like Pelican question the ability of Canadians to invent anything since 1922, a list is called for.

    Why are you both so envious of Canada?
  626. Brian Pelican from Denver, United States writes: Doctor Demento from Canada writes: Brian Pelican from Denver, United States writes "See my post at 10.16 on DNA." You mean the one that has NOTHING AT ALL to do with the development of DNA fingerprinting used in forensics which was invented by an Englishmen, Sir Alec Jeffreys. As usual you are wrong, wrong, wrong . . \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ How about a few more wrongs - wrong, wrong, wrong. is that enough? Poor baby. How about this "Without automated sequencing technology (invented by Leroy Hood), deciphering the 3 billion base pairs in the DNA that make up the human genome would have been impossible' Not used in finger printing??? Poor baby
  627. Doctor Demento from Canada writes: Pelican - are you really that stupid? Deciphering the human genome was a completely different project than inventing genetic profiling and was only able to be done through a long INTERNATIONAL effort. You claimed in your 9:55 post that the USA invented DNA technology "which your police use". I have proven tht statment to be a complete lie.

    Of course you are far too small (and American to boot), so I know you will never admit to being wrong.

    Poor baby . . .
  628. teddy bear from United States writes:
    canadians inventions basically fill niche applications

    canadians are deluding themselves if they think canada is a hotbed of innovation... it's not

    canada is still primarily a resource based economy
  629. Brian Pelican from Denver, United States writes: Demento baby, perhaps DNA finger printing was invented by a Brit - sure wasn't a Canadian now was it??? Yes, Canada's last "great" invention was - tralala - the canola in 1978 according to you. Wow!! However, certainly Leroy Booth's invention was a major development - again "little Canada" as you describe it, wasn't involved - right, they invented the canola in 1978 and the wonderbra in 1964 - sure right up there with the Human Genome project.. poor baby. Now go out into the streets of Winnipeg - maybe some American will "put" a gun into your hand as your friend Northbridge says they will. You may try to resist it, but it will happen. Poor Canadians - the Americans are so in charge of you - they can "put" guns in your hands
  630. Canadian born liberal-conservative Muslim from Ottawa, Canada writes: Oh lordy, why did you show a big list of Canadian inventions?

    INSENSITIVE PEOPLE! Do you have no respect for yourself? No shame?

    No citizens from any country act the way we do. If they are insulted, they have no need to bring up stupid facts or inventions to back them up. Jealous, insensitive PEOPLE:

    Scenario: In NYC

    American: Wow, that's a tall building
    Canadian: Ohh, the CN tower is way taller than that. Its the tallest building in the world. Its like 10 times bigger than that. Blah. Blah. Blah

    --------------------

    Scenario: In a busy US highway

    American: Man, why is there so much traffic right now?
    Canadian: Ohh, the 401 in toronto is like 50x more busier than this. Its the busiest highway in the world. Blah. Blah. Blah
  631. teddy bear from United States writes:
    it's not just inventions canadians have to recite

    one time we were sitting at a table in vegas, and there was a canadian... he would trumpet the fact that he was .. canadian

    but that's not all

    he would go on and inform the table of all the people of famous performers who were canadians... did you know that celine dion is canadian? betchu didn't know that or another example did you know that shania twain is canadian? betchu didn't know that

    can you imagine what it would be like if i started saying things like madonna, she's been around for a long time... gotta admire her longevity. she's an AMERICAN performer

    canadians are the only people who insist on acting out in this strange way... listen nobody cares that burton cummings is canadian for fks sake

    you canadians need to get over your pitiful inflated sense of self importance. grow up
  632. Doctor Demento from Canada writes: Brian Pelican from Denver, United States writes "Demento baby, perhaps DNA finger printing was invented by a Brit - sure wasn't a Canadian now was it??? "

    I never claimed it was a Canadian. It was a Brit - and definitely NOT an American as you falsely and arrogantly claimed. It is very sad to see you make such a fool of yourself . . .
  633. Doctor Demento from Canada writes: Brian Pelican from Denver, United States writes "Canada's last "great" invention was - tralala - the canola in 1978 according to you."

    Does Pelican have any comprehension skills at all? I listed many Canadian inventions since 1978 - the last ones on my short list being the BlackBerry in 1999 (which your president is a huge fan of), although the first Ebola vaccine successfully used on a human was invented in Winnipeg over the past few years.

    Go ahead and keep deluding yourself that Canada is a remote backwater of farmers, fishermen and foresters - your ignorance becomes you . . .
  634. Brian Pelican from Denver, United States writes: Oh, go suck a few Easter eggs, you parading fool of a a man. I am sure your compatriots are delighted to have to speak for them. To refer proudly to the manufacture of a cell phone as a noteworthy achievement by a G7 nation is beyond belief.
  635. Doctor Demento from Canada writes: Anyone who thinks that the BlackBerry is just another cellphone is an idiot - an idiot who is incredibly envious of Canada . . .
  636. teddy bear from United States writes:
    why do canadians insist on engaging in mental masturbation over the blackberry?

    rimm did not pioneer touch screen technology... it's been around for a long time, apple only recently popularized it with its use on its iphone.. before the blackberry

    the blackberry uses wireless cell phone technology - technology based on existing standards developed by europeans and americans

    rimm's handsets are PDAs... hardly novel, because the PDA as a concept that was first introduced and popularized by palm, with their devices

    the claim that the blackberry is a novel canadian invention is just another example of the utter nonsense canadians spew about their inventions...
  637. Doctor Demento from Canada writes: Why do SOME Americans feel compelled to denigrate amazing Canadian technological breakthroughs like Java programming language and the BlackBerry? You can rest assured that had the Blackberry been an American invention they would be proclaiming it the greatest thing since sliced bread.

    I am utterly intrigued how envious they are of Canada and the things that Canada does so well . . .
  638. teddy bear from United States writes: Why do SOME Americans feel compelled to denigrate amazing Canadian technological breakthroughs like Java programming language

    because engaging in pissing contests over who was responsible for inventing a certain programming language is... in one word, RETARDED

    you don't see the danes bragging about inventing c , or the dutch boasting about inventing python do you?

    of course not

    the reason for this is because canadians are petty and think small, and your obsession over java is just the latest example of this

    claiming that the inventor of java is canadian is like wetting your pants - it's a big deal to you but in reality, nobody else cares
  639. Doctor Demento from Canada writes: teddy bear from United States writes "engaging in pissing contests over who was responsible for inventing a certain programming language is... in one word, RETARDED"

    Apparently teddy bear has the wherewithall to realize that he is RETARDED since it is he who is engaging in a pissing contest . . .
  640. Joe Citizen from Everytown, Canada writes: Why is this article still running ? This, certainly, must be some kind of record. Is Stephen Harper paying for this ?

    I know that Little Stevie likes to take credit for the fact that Canadian Banks didn't collapse in spite of the fact that he has a history of being totally in favour of deregulation of any kind and that he promoted the deregulation of banks all over the world and if he had .... had .... a majority government here in Canada he, most certainly, would have deregulated our banks causing an even greater catastrophie here.

    Harper did introduce the ridiculous 40 year mortgage here in Canada .... and he wanted AIG (Corporate Welfare Kings) to come to Canada to peddle their sub-prime mortgage.

    Little Stevie is pathetic and desperate for some sense of achievement to peddle to the public. Someone told me recently that because Harper had once ridden on a bicycle that he (Harper)later claimed that he had invented the wheel.

    BANANA REPUBLIC NORTH.
  641. Brian Pelican from Denver, United States writes: Little Stevie is pathetic and desperate for some sense of achievement to peddle to the public. Someone told me recently that because Harper had once ridden on a bicycle that he (Harper)later claimed that he had invented the wheel. \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ That's the kind of thing demented regularly peddles
  642. Brian Pelican from Denver, United States writes: Angry West Coast Canuck from Canada writes: The Canadian passports are a joke. 5 years validity? Give me a break! Getting one is quite easy, if you can get to one of the passport offices. Good luck getting one outside of Canada though. At least other countries treat their citizens as the REASON they have international consulates. Canada just treats its citizens as scum, barely worth mentioning. Witness how they treat the guy in Sudan. That's normal behaviour for the Canadian government.

    Sometimes I'm ashamed to be Canadian. We're a 3rd world nation pretending to be 1st world, playing with the big boys. When all we are is a colony of the more industrialized nations, bowing to their every whim as our government continues to be run by encephalitic monkeys.
  643. Doctor Demento from Canada writes: Brian Pelican from Denver, United States writes "That's the kind of thing demented (sic) regularly peddles".

    Actually it is what birdbrain peddles. He is the one who blatantly lied that DNA fingerprinting was developed in the USA when it was not - but regardless his continued presence on this thread is testament to his obsessive-compulsive envy of all things Canadian . . .
  644. Brian Pelican from Denver, United States writes: Dawn from Minnesota from Minnesota, United States writes: My heart goes out to the people of Manitoba who were flooded out of their homes. The Red River was a real problem this year. I have "sandbagger hands" from helping out in Fargo-Moorhead. Take care of yourselves up there in Manitoba. According to weather reports, Spring-like weather is on its way. :) \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ I seem to recall demented making the point that manitoba had the infrastructure to ensure that manitobans were safe from all natural disasters. Seems not
  645. teddy bear from United States writes:
    i have met people of numerous nationalities and different cultures...

    .. of all countries in the world, canada is the only country that i've come across where its people make a point of bragging about their banks

    in france people are proud of the cuisine, for the chinese it's their long and storied history, for the germans it's their musical tradition... in canada it's their banking system - with a national headline to boot!

    canadians are a strange bunch of people
  646. Doctor Demento from Canada writes:

    Too bad Americans aren't able to brag about their banks - roflmao . . .
  647. teddy bear from United States writes:
    the only reason canadians are the only people in the world who would make a point of bragging about canadian banks is... because they have nothing else to brag about

    canadian history is hardly awe inspiring.. more like yawn inducing

    there is no cultural tradition whatsoever to speak of in canada... after all, people have a hard time telling canadian culture from american culture, with all the movies, music and books you canadians import from america

    even a lot of canadian inventions were invented in the united states, because those who are smart enough leave canada for the US, and recognize canada for what it is - an economic and technological backwater

    having to play second fiddle to the united states is canada's destiny, for better or for worse

    god bless america everyone
  648. Doctor Demento from Canada writes: teddy bear from United States writes "The only reason canadians are the only people in the world who would make a point of bragging about canadian banks is... because they have nothing else to brag about"

    No it's because we aren't Americans who feel that they have to constantly declare to the world that their country is the greatest on the planet and that all other nationalities should bow in praise to how great they are and thank them for everything they have invented and everything they do for us all out or the goodness of their hearts - roflmao . . .
  649. Jose Va from Ottawa, Canada writes: Hey Teddy Bear,

    Why don't you check your history.

    Canada is the only country in the world that has never lost a war.

    Canadians invaded the US, and even burned the White House. We had a drinking party while it was burning, then thought it was boring and you Americans had enough, and we left.

    ____________
    teddy bear from United States writes:
    "the only reason canadians are the only people in the world who would make a point of bragging about canadian banks is... because they have nothing else to brag about

    canadian history is hardly awe inspiring.. more like yawn inducing"
  650. teddy bear from United States writes:
    i've been making observations about canada and the strange people who happen to inhabit this country in a number of posts

    i know - beyond any doubt - that what i've said is true

    it must be true, if the only thing canadians can do is point something out about americans (or america itself) in response, instead of addressing the issue directly

    you canadians make an for interesting study in psychology. the capacity for self denial by humans is well known.. but for canadians, it's apparently limitless!

    lol
  651. blue sea from United States writes: Jose Va's comment is unbelievably insulting and should be sickening to Americans if this is what counts for Canadian pride. It also dredges up a chapter of North American history when Canada was VERY THOROUGHLY a British colony -- therefore, this event that makes seemingly so many Canadians so proud (I say this because I've heard this one repeatedly before) is actually a British one, first of all, and one that occurred under revolutionary times, secondly. In other words, it has NO BEARING on anything happening in the 21st century. I came back to this tread because it's an amazing sociological (at least pathological) study in what brings out the worst in people from supposedly the two friendliest nations on earth. But it's starting really to get out of hand. The problem with anonymous comment boards is that there's no liability for your comments. If you go out of your way to bait and flame, the worst the offended person can do is try to get back in a similar fashion. Hence we see the use of sarcasm and logical fallacies to try to get an upper hand. Had this argument been made in a bar, the police would've already shown up to break up the fist fight between Dr. Demento, teddy bear and brian pelican. But at least it would have closure. This @$% thread needs to be shut down because otherwise there will NEVER be closure, these 3 will keep going at each other's throats, egged on mostly by Demento's childish baiting and teddy bear's regrettable brush-painting of all Canadians as navel-gazing U.S. wannabes. Only pelican strikes me the sole reasonable commenter here, and he's had to dumb down his arguments to the knuckle-scraping level of Demento and his wingman Bobcat64. EVERYONE PLEASE GIVE IT UP. Jose Va owes every American reading this thread an apology. It's one thing to brag about bank balance sheets, another to take glee in trying to destroy another nation's capital. I guess he's not one of those famously peace-loving Canucks, right?
  652. In For The Long Haul from Canada writes: My understanding is that .6% of Globe and Mail readers actually post commentary on this site. Amazing how that .6% captures 100% of the infantile, ignorant and pompous idiot readers on both sides of the border. On behalf of all reasonably intelligent Canadians and Americans, keep your inane comments to yourselves and SHUT THE HELL UP!!!
  653. teddy bear from United States writes:
    oh please

    canadians have made it a national pastime to criticize americans. the only thing is that it isn't criticism, it's patriotic

    you know exactly what i'm talking about - people love reciting, ad infinitum, statements like gee we canadians are well respected worldwide and have a positive image, unlike those arrogant and ignorant american bullies ..

    hardly a thing can be uttered without comparing yourselves favorably to us americans. who are you to complain about me painting all canadians with one brush?

    hypocrite

    for canadians to object to the things i say here - i say to you that you are idi0ts

    what goes around comes around. deal with it
  654. Joe Citizen from Everytown, Canada writes: Did you mention that Stephen Harper invented the wheel ? The banks and Canadians can thank Jean Chretien for their economic stability.
  655. Doctor Demento from Canada writes: blue sea from United States writes "Only pelican strikes me the sole reasonable commenter here"

    There goes your credibility blue sea. How tight are you wrapped in the Stars and Stripes . . . ?

    It truly amazes me me how worked up Americans get when Canadians display a tiny bit (compared to Americans) of patriotism . . .
  656. In For The Long Haul from Canada writes: Teddy Bear, I lived and worked in Chicago and New York for 8 years in the 90s and virtually all the Americans I dealt with or those that became friends were tolerant, worldly and highly sympathetic to other nationalities and cultures. Your ignorant rantings about Canadians simply prove my original point and I thank gooodness you and your views are held by only an extremely small portion of the USA public, most of which are probably your immediate friends and neighbours in whatever backwater hole you live in.
  657. teddy bear from United States writes:
    i have lived in canada for several years, and i have never seen anyone as myopic and hypocritical in its behavior towards americans as canadians

    for example, carolyn parrish's outbursts mocking americans only generated a muted outcry amongst canadians

    parrish's generalizations, if applied to any other group, would be branded as ignorant and racist .. an ignorance and racist attitude that is blinded by the latent anti-americanism that simmers in canada

    yet i have not heard one single instance of that description applied to parrish... indeed she was still popular for a long time

    it's amazing how some canadians can be presumptuous and arrogant enough to apply that label to me

    you are such sniveling and petty hypocrites
  658. Billy Demento from Manitoba, Canada writes: Canadians are better than Americans because we have the right amount of patriotism.

    It is no wonder that Americans are hated all over the world. Americans have the wrong amount of patriotism, they have too much.

    I know that Canada is great because I know that Canada is better than America.

    That is why the world envies my great country of Canada.

    It is good for us to celebrate that other countries envy Canada. It is no good to be the best country in the world unless other countries are envious.

    That is all part of healthy Canadian patriotism, to bask in the knowledge that the whole world envies Canada because we are so great.

    Billy Demento
    Age 9
  659. Billy Demento from Canada writes: Canadians are better than Americans because we have the right amount of patriotism.

    It is no wonder that Americans are hated all over the world. Americans have the wrong amount of patriotism, they have too much.

    I know that Canada is great because I know that Canada is better than America.

    That is why the world envies my great country of Canada.

    It is good for us to celebrate that other countries envy Canada. It is no good to be the best country in the world unless other countries are envious.

    That is all part of healthy Canadian patriotism, to bask in the knowledge that the whole world envies Canada because we are so great.

    Billy Demento
    Age 9
  660. Billy Demento from Manitoba, Canada writes: Canadians are better than Americans because we have the right amount of patriotism.

    It is no wonder that Americans are hated all over the world. Americans have the wrong amount of patriotism, they have too much.

    I know that Canada is great because I know that Canada is better than America.

    That is why the world envies my great country of Canada.

    It is good for us to celebrate that other countries envy Canada. It is no good to be the best country in the world unless other countries are envious.

    That is all part of healthy Canadian patriotism, to bask in the knowledge that the whole world envies Canada because we are so great.

    Billy Demento
    Age 9
  661. Billy Demento from Manitoba, Canada writes: Canadians are better than Americans because we have the right amount of patriotism.

    It is no wonder that Americans are hated all over the world. Americans have the wrong amount of patriotism, they have too much.

    I know that Canada is great because I know that Canada is better than America.

    That is why the world envies my great country of Canada.

    It is good for us to celebrate that other countries envy Canada. It is no good to be the best country in the world unless other countries are envious.

    That is all part of healthy Canadian patriotism, to bask in the knowledge that the whole world envies Canada because we are so great.

    Billy Demento
    Age 9
  662. Billy Demento from Manitoba, Canada writes: Canadians are better than Americans because we have the right amount of patriotism.

    It is no wonder that Americans are hated all over the world. Americans have the wrong amount of patriotism, they have too much.

    I know that Canada is great because I know that Canada is better than America.

    That is why the world envies my great country of Canada.

    It is good for us to celebrate that other countries envy Canada. It is no good to be the best country in the world unless other countries are envious.

    That is all part of healthy Canadian patriotism, to bask in the knowledge that the whole world envies Canada because we are so great.

    Billy Demento
    Age 9
  663. Billy Demento from Manitoba, Canada writes: Canadians are better than Americans because we have the right amount of patriotism.

    It is no wonder that Americans are hated all over the world. Americans have the wrong amount of patriotism, they have too much.

    I know that Canada is great because I know that Canada is better than America.

    That is why the world envies my great country of Canada.

    It is good for us to celebrate that other countries envy Canada. It is no good to be the best country in the world unless other countries are envious.

    That is all part of healthy Canadian patriotism, to bask in the knowledge that the whole world envies Canada because we are so great.

    Billy Demento
    Age 9
  664. Sally Demento from Manitoba, Canada writes: Billy is right.

    Canada is like yummy piece of candy that the world is jealous of.

    America is like poo-poo.

    Everybody loves candies.

    Everybody hates poo-poo.

    Sally Demento
    Age 4
  665. Sally Demento from Manitoba, Canada writes: Billy is right.

    Canada is like yummy piece of candy that the world is jealous of.

    America is like poo-poo.

    Everybody loves candies.

    Everybody hates poo-poo.

    Sally Demento
    Age 4
  666. Sally Demento from Manitoba, Canada writes: Billy is right.

    Canada is like yummy piece of candy that the world is jealous of.

    America is like poo-poo.

    Everybody loves candies.

    Everybody hates poo-poo.

    Sally Demento
    Age 4
  667. Sally Demento from Manitoba, Canada writes: Billy is right.

    Canada is like yummy piece of candy that the world is jealous of.

    America is like poo-poo.

    Everybody loves candies.

    Everybody hates poo-poo.

    Sally Demento
    Age 4
  668. Tucker Demento from Manitoba, Canada writes: Yay Canada, we are the best.

    I was going to make a list of all the great inventions Canada invented that America did not invent.

    But I see that somebody else up above has already nicely done that.

    We are so great! And everybody in the world loves us!

    It is like being god to be a Canadian. That is what it is like when the whole world loves you, it is like being a god.

    It is no wonder the world is so jealously envious of Canada!

    I am proud of that. We are the best!

    And when you compare lists of all the good Canadian accomplishments to lists of American stuff, we have done so very well!

    Tucker Demento
    Age 11
  669. Tucker Demento from Manitoba, Canada writes: Yay Canada, we are the best.

    I was going to make a list of all the great inventions Canada invented that America did not invent.

    But I see that somebody else up above has already nicely done that.

    We are so great! And everybody in the world loves us!

    It is like being god to be a Canadian. That is what it is like when the whole world loves you, it is like being a god.

    It is no wonder the world is so jealously envious of Canada!

    I am proud of that. We are the best!

    And when you compare lists of all the good Canadian accomplishments to lists of American stuff, we have done so very well!

    Tucker Demento
    Age 11
  670. Tucker Demento from Manitoba, Canada writes: Yay Canada, we are the best.

    I was going to make a list of all the great inventions Canada invented that America did not invent.

    But I see that somebody else up above has already nicely done that.

    We are so great! And everybody in the world loves us!

    It is like being god to be a Canadian. That is what it is like when the whole world loves you, it is like being a god.

    It is no wonder the world is so jealously envious of Canada!

    I am proud of that. We are the best!

    And when you compare lists of all the good Canadian accomplishments to lists of American stuff, we have done so very well!

    Tucker Demento
    Age 11
  671. Patricia Demento from Manitoba, Canada writes: I am so proud of Canada!

    The headline says it all: "Canada envy"!

    We are so great!

    This newspaper article is only six weeks old. It should be the top story for years!

    Even though most news articles are closed to comments after a few days!

    This one is six weeks old! Keep it up!

    Look at Canada! The world envies us! We are so great!
  672. Patricia Demento from Manitoba, Canada writes: I am so proud of Canada!

    The number one top headline says it all: "Canada envy"!

    We are so great!

    This newspaper article is only six weeks old. It should be the top story for years!

    Even though most news articles are closed to comments after a few days!

    This one is six weeks old! Keep it up!

    Look at Canada! The world envies us! We are so great!
  673. bagoverhead guy from Canada writes: While our banks have done well through this crisis, due in part to we suckers, er customers paying them through the nose for decades, I question much of what Canadian industry is not doing to grow business around the world.

    I've recently re-read a shocking book on the sad history of Canadian companies efforts to grow business outside this country, and the U.S.

    "Why Mexicans Don't Drink Molson" is a must-read if you want to peer into the future, or lack of, for many Canadian companies.

    Props to the banks...it will be interesting to see if they take this opportunity to grow their brands in other parts of the world where banks need the kind of expertise shown by our handful of well run banks.
  674. In For The Long Haul from Canada writes: Teddy Bear, how are your moronic ravings "you are such sniveling and petty hypocrites", "for any of you to disagree with what I say here-means you are idiots" and "god bless America", etc. any different than those of Caroline Parrish? Your attitude is what brought down the Roman empire, ended British world dominance and was the downfall of the short-lived Third Reich. So much for the American empire, you egotisical, arrogant, myopic, self-indulgent, ignorant and selfish prick. You are indeed the village idiot and a waste of oxygen. To reiterate my initial comment, SHUT THE HELL UP! I am reporting you to US Immigration so they can check for a green card as you are obviously from another planet.
  675. Bob F from Canada writes: Here is a quick message to all of our "Genius" Bankers.... Immediately scrub of all of your Email servers!! You may be claiming that you had the business intelligence to avoid this situation but I hardly doubt that. I am sure that you were trying to get into this sub-prime mess just like everyone else and merely avoided it more out of luck and lazyness than intellingence.
  676. Doctor Demento from Canada writes: Teddy bear's pathetic and long-winded attempt at sarcasm further proves just how envious he is of Canada and Canadians. He truly has no idea that being the most powerful or richest nation on Earth doesn't make you the greatest nation . . .
  677. Bobby Demento from Canada writes: Yes, the American's pathetic and long-winded attempt at sarcasm further proves just how envious he is of Canada and Canadians.

    And well they should be envious and jealous of Canadians. We are great.
  678. Tucker Demento from Manitoba, Canada writes: Absolutely yes, the American's pathetic and long-winded attempt at sarcasm further proves just how envious he is of Canada and Canadians.

    And well they should be envious and jealous of Canadians. We are great.
  679. Doctor Demento from Canada writes: Keep it going teddy-bear. Your obsessive-compulsive disorder apparently knows no bounds.

    I see the economic news out of the US is dismal again today . . .
  680. Brian Pelican from Denver, United States writes: If there is anyone who has OCD it is our Demented. Everything that he is close to is first rate - even Winnipeg - maybe that is because he is there. Anybody who agrees with him is an intellectual giant, because he thinks he is - it all rubs off, you see. Anybody who disagrees with him is a fool because how can you disagree with a genius without being a fool. Only those who are envious of Canada are informed. Those who are not are idiots because the genius thinks all should be envious of Canada. Canada's inventions drive the world's medical and scientific fields - without them we would all be living in medieval times. HEAR YE, HEAR YE, CANADA IS THE ENVY OF THE WORLD. Anybody who disagrees shall be shot
  681. Doctor Demento from Canada writes: Pelican - you are soooooo envious it is pathetic. You would love Canada's banks to fail like many of those in the U.S. have already done because of poor U.S. regulatory oversight and reckless risk-taking by the millionaire executives of these poorly-run AMERICAN companies.

    Unfortunately for you it isn't to be.

    Why are Canadians so much more sensible than Americans . . . ?
  682. Sally Demento from Manitoba, Canada writes: Yes, why are Canadians so much more sensible than Americans?

    That is a very, very good question.

    The American's pathetic comment proves just how envious he is of Canada and Canadians.

    And well they should be envious and jealous of Canadians. We are great.
  683. Patricia Demento from Manitoba, Canada writes: Yes, I also am so proud of Canada!

    The number one top headline says it all: "Canada envy"!

    We are so great!

    This newspaper article is only six weeks old. It should be the top story for years!

    Even though most news articles are closed to comments after a few days!

    This one is six weeks old! Keep it up!

    Look at Canada! The world envies us! We are so great!
  684. Doctor Demento from Canada writes: Patriotic Americans are hilarious. They are genetically unable to acknowledge that perhaps, just perhaps, when all the evidence points to it, that Canada does some things better than the US.

    The World Economic Forum states that Canada's banks are better than those in the USA - but their jealousy won't let American acknowledge or even better LEARN why that is the case so that they might improve their own flawed system . . .
  685. Renee Olson from Edmonton, Canada writes: Paul Martin saved our behinds; however Mr. Flaherty and Mr. Harper managed a major f-up in just a brief period. Just wait a couple of years when the AIG backed MTG's in Canada start defaulting....
  686. The Last Honest Conservative from Western, Canada writes:
    "Canada envy, amid a global meltdown"

    Isn't that what the cowardly Harper claimed before he purouged ............. and adopted Dion's budget.
  687. teddy bear from United States writes:
    actually... the supposed soundness of canadian banks is not a result of some unique policy or foresight, despite the claims of certain people here

    as part of the fallout from the great depression, american regulators curtailed american banks in the types of risk they could take to generate revenue (of course, over the decades, these rules were gradually loosened leading to the present situation)

    present day canadian banks are much in the same situation as american banks were in the years following the great depression

    it just goes to show you that even now, canada is still am imitator of the united states. if it's been done by a canadian, it's likely an american has done it already
  688. Brian Pelican from Denver, United States writes: Demented is hilarious - good reason for us all to be hilarious. Is he rotflao yet? If not, that childish response from him will shortly be forthcoming. He is the only adult I know who uses such adolescent terms. He says Americans are incapable of acknowledging that Canada does some things better than the US. No, that is not it - he constantly blathers that Canada does everything better than the US. I would love to hear from him where the US does things better than Canada but I know that he would probably choke on a response so I don't expect one.
  689. A C from Canada writes: The major reason that we think Canada Banks are good, is that we are kept in the dark with no transparency.It hasn't got out yet and Mr. Harper wants it kept that way i.e. How many of these banks follow governmental legislation in all of their well written acts?They do as they please and their is zero oversight,compliance and enforcement.The county is full of Madoffs,they are all disguised as banking and investment registered representatives!
  690. teddy bear from United States writes:
    A C

    wow... what you wrote was actually... intelligent

    nearly seven hundred posts written into this thread, and this is first time i have seen something (that's written by someone besides me) with any semblance of intelligence... which goes to show you that the G&M readership are basically idiots. but i digress

    i agree one hundred percent with your point about transparency

    we all know what financial condition american banks are in, because we publish things like foreclosure numbers. in canada, there is no such data readily available

    and canada experienced a boom in real estate valuations too... who knows what condition canadian banks are really in?
  691. Doctor Demento from Canada writes: teddy bear from United States writes "present day canadian banks are much in the same situation as american banks were in the years following the great depression"

    The difference is that Canadian authorities have maintained stricter regulations on Canadian banks whereas the US regulators have been asleep at the wheel.

    NINJA mortgages would never have been allowed in Canada - it is what makes you envy us . . .
  692. Doctor Demento from Canada writes: Brian Pelican from Denver, United States writes "He says Americans are incapable of acknowledging that Canada does some things better than the US. No, that is not it . . . "

    OK Pelican - I'm calling your bluff. Admit that Canada's banks and banking system are more sound than that in the USA - after all that is what the World Economic Forum concluded . . .
  693. teddy bear from United States writes:
    let us be clear - how many bad mortgages are on canadian banks books is a complete mystery. there is absolutely no information available from official sources

    for anyone to claim that canadian banks are healthy without this information... is like having george w bush claim iraq had WMDs without proof from UN inspectors in 2002

    i find it totally ironic that canadians would end up being so very much like the person they revile... george w bush

    lol what a bunch of hypocrites
  694. Goth Demento from Manitoba, Canada writes: The Americans envy us and are jealous of us.

    And that is good, that the Americans are jealous of us.

    But it is not enough.

    I want more than just envy from them.

    I want humiliation.

    Yes, humiliation.

    Americans, let me see you mouth the words. Let me see you say "Canada's banks and banking system are more sound than that in the USA".

    I want to see your lips say those words. Please say them for me. Please, please, yes, yes, oh please.

    I want to see you humiliated. Envy and jealousy are not enough any more. I want more arousal than that.
  695. Goth Demento from Manitoba, Canada writes: The Americans envy us and are jealous of us.

    And that is good, that the Americans are jealous of us.

    But it is not enough.

    I want more than just envy from them.

    I want humiliation.

    Yes, humiliation.

    Americans, let me see you mouth the words. Let me see you say "Canada's banks and banking system are more sound than that in the USA".

    I want to see your lips say those words. Please say them for me. Please, please, yes, yes, oh please.

    I want to see you humiliated. Envy and jealousy are not enough any more. I want more arousal than that.
  696. teddy bear from United States writes:
    here is a link that points out the lack of transparency in the financial and housing sectors - a link from the G&M no less

    note that this link will scroll off the page, so take care in copying and pasting it

    theglobeandmail.com?query=transparency foreclosure

    it's funny how the globe and mail would talk about envy in one article, and undermine its conclusions in another !

    what's even worse is that there are canadians who are too dumb to question what they are reading. and they say americans are ignorant? speak for yourself

    hypocrites!
  697. Doctor Demento from Canada writes: There are valid legal reasons why houses in pre-foreclosure in Canada are not listed by the banks. Court proceedings are taking place and in Canada a home owner has the opportunity to sell the house and settle prior to the foreclosure actually occurring. Figures are only available for those houses that reach the foreclosure stage, which is only about 5% of the total.

    Instead Canadian banks publish mortgage delinquency rates for statistical purposes and these are readily available to the public. In January the mortgage delinquency rate in Canada was 0.36%. Compare that to the US where the mortgage delinquency rate at the end of 2008 was 7.88% which is 22 times higher and you start to see why Canada's banks are in such a good position. On top of that all mortgages in Canada that were obtained with 10 to 25% down payment are FULLY INSURED through the Canada Mortgage and Housing Corporation, which is owned and backed by the government of Canada.

    I know that as an American it must be tough for you to see how much better Canada does in this area, let alone admit it . . .

    http://tinyurl.com/dfbwgu
    http://seekingalpha.com/article/124590-u-s-mortgage-delinquency-rates-setting-more-records
  698. Brian Pelican from Denver, United States writes: Demented you are skipping the question - I said you would choke on it. I asked where America does things better than Canada. You just can't do it. My case rests.
  699. Doctor Demento from Canada writes: Big-beaked birdbrain - OK I'll answer your silly question. The USA betters Canada in the following areas:

    1. The US spends far more of its wealth on developing weapons of mass destruction than Canada does.
    2. The opportunities for employment in the prison system are much greater in the US than in Canada.
    3. The brain-washing of schoolchildren into instilling a blind patriotism and belief than the their country is second to none and the primary source of good in the world is done far better in the US than it is in Canada.
    4. The US does a far better job of interfering in the affairs of other countries around the world than Canada does.

    Did you read the part about the mortgage delinquency rate being 22 times higher in the US than it is in Canada . . . ?
  700. William MacIntosh from Liverpool, United Kingdom writes:
    Dr. Demento writes: "The brain-washing of schoolchildren into instilling a blind patriotism and belief than the their country is second to none and the primary source of good in the world is done far better in the US than it is in Canada."

    That is utter and unadulterated poppycock!

    It is about a four-way tie in the world, as far as that type of "brain-washing of schoolchildren into instilling a blind patriotism" goes.

    And Canada is absolutely in that top four, tied with France and the USA and Russia.

    And I have little doubt that Dr. Demento himself is the product of the Canadian education system, based on the goodies he has written, mad keen, on this board in his (about a hundred?) posts.

    You see, the thing is, people are always blind to this, when they themselves are the products of one of those four country's education systems.

    But others can easily smell them a furlong away!
  701. Doctor Demento from Canada writes: MacIntosh you fool - I received much of my early education in the UK where I was born . . .
  702. William MacIntosh from Liverpool, United Kingdom writes:
    Your family took you away to Canada when you were a wee lad, then?

    Well, I guess that was our gain!

    The Canadian education system rubbed off on you, nonetheless - you spent your college years on campuses there, to be sure, and probably grades before that as well. You wear it all, in your goodies on this board.
  703. Doctor Demento from Canada writes: MacIntosh - you haven't a clue. I passed my 11 plus in the UK and went to grammar school for 3 years prior to moving to Canada. I can see that as a Brit you are uninformed of the insane patriotism that is instilled in Americans from the moment they are born until they die. I have friends (university professors) who went to work in the US but returned home to Canada when they saw how their kids were being brainwashed in the American school system. The only history/ geography they learn is focussed on the US. I have no idea about patriotism in France or Russia, but to equate the US with Canada shows that you are ill informed . . .
  704. teddy bear from United States writes:
    the only information we have on the number of subprime loans in canada is provided by the banks, and not by the government

    such a source can hardly be considered independent.. companies have an interest in boosting shareholder equity (and thus executive compensation).. and companies have lied before about the state of their finances (can you say nortel) to deceive the public

    as it stands right now, it is a major leap of faith to say that canada's banking system is sound. it might be, but we have no way of knowing for sure

    canadians asserting that the banking system is 'sound' and is the source of envy abroad, is exactly like saying there were WMDs in iraq in 2002, before the UN inspectors could confirm that this was the case

    it's funny how people can protest george w bush's visit to calgary, when a lot of you ended up acting the same way as he has!

    stupidity is not inherently american - it is something in plentiful supply in canada too. stupidity and hypocrisy, to boot

    lol
  705. Doctor Demento from Canada writes: teddy bear from United States writes: "the only information we have on the number of subprime loans in canada is provided by the banks, and not by the government"

    Hmmm - and where do you think the US government gets information on foreclosures - the tooth fairy . . . ?
  706. Doctor Demento from Canada writes: teddy bear from United States writes "canadians asserting that the banking system is 'sound' and is the source of envy abroad, is exactly like saying there were WMDs in iraq in 2002, before the UN inspectors could confirm that this was the case."

    The UN weapons inspectors under Hans Blix were almost at the point of final confirmation that there were no WMDs in Iraq when they had to leave because Dubya had convinced Americans that Iraq had to be invaded for "America's safety" - pretty poor example if you ask me . . .
  707. teddy bear from United States writes:
    when a house goes into foreclosure, there's a certain ripple effect that occurs... certain events are triggered

    for example when a home forecloses, the transfer of title goes from the owner to the bank, and noted by city officials (the city keeps track of ownership for tax purposes)

    the point is that there is an audit trail left by the process of foreclosure that the US government uses to keep track of foreclosure numbers... numbers which could easily could be gathered by the canadian government, but isn't for some reason

    these numbers are NOT pulled out of thin air or provided by the tooth fairy, as suggested by some idiot here... i won't mention names, but i think we all know who i am talking about

    what a babbling fool
  708. Doctor Demento from Canada writes: As stated previously, there are legal and privacy protection reasons for not listing foreclosure proceedings in Canada until they are finalized. The mortgage delinquency rate is a PRECURSOR to the foreclosure rate and provides an earlier indication of the trend in mortgage foreclosures.

    It is obvious that teddy bear is unwilling to accept the fact that the mortgage delinquency rate in the USA is 22 times higher than it is in Canada - which is a good indicator of how much more dire things are for US banks than they are for Canadian banks.

    Rather than admit that Canada's banks are strong vs. those in the US he prefers to remain in denial . . .
  709. teddy bear from United States writes:
    demento is full of sh-t

    publishing foreclosure numbers is not a violation of privacy... saying that x owners have foreclosed doesn't impinge on anyone's privacy by exposing the identities of anyone

    a statement like 5000 owners have foreclosed is not a violation of anyone's privacy. give me a break

    i am amazed that there are people would take this much time and effort to make up the amount of bullsh-t demento has, to avoid losing face.. in an anonymous message board

    lol what a loser
  710. Doctor Demento from Canada writes: Like I said - teddy bear is in denial.

    So why are 7.88% of US mortgages deliquent when only 0.36% of Canadian mortgages are delinquent . . . ?
  711. Doctor Demento from Canada writes: "According to the Canadian Bankers Association, there were 0.36% of mortgages in arrears (three or more months of payments defaulted) in January 2009 compared to 0.27% in the same month last year. In comparison, the delinquency rate for mortgage loans on one-to-four unit residential properties in the US was 7.88% in the fourth quarter of 2008, according to data from the Mortgage Brokers Association."

    http://www.mortgagebrokernews.ca/news/mortgage-defaults-a-concern-for-canada-imf/34512
  712. Doctor Demento from Canada writes: teddy bear from United States writes:

    "i am amazed that there are people would take this much time and effort to make up the amount of bullsh-t demento has, to avoid losing face.. in an anonymous message board"

    No bullsh-t - just facts which is what ticks off patriotic Americans like teddy bear - who spend just as much time as me in a vain attempt to disprove that Canada's banking system is better than the one that is failing in the USA - except he is on a forum in another country . . .
  713. Brian Pelican from Denver, United States writes: Demented - I think you are really living up to your name. How you can rave on and on with people you don't know and will never meet is totally beyond me. I think you have major mental issues and I am fairly sure these have screwed up your life and anybody around you who have associated with you. I asked my wife who is a clinical psychologist to read this thread today and she has confirmed that you would appear to have a severe anti-social personality disorder or potentially a borderline personality disorder. She was particularly intrigued with your listing of where you perceive the US to be better than Canada (all negative) and believes this is a good example of a personality disorder where people see the world around them in extremes - it is either good or bad. She recommends that you get professional help soon if you already haven't
  714. Doctor Demento from Canada writes: Pelican - any clinical psychologist who:

    a) would marry an insecure OCD person like you, and
    b) claims to be able to make a medical diagnosis on the basis of a web forum post,

    isn't worth a pinch of salt.

    I gave you 4 areas in which the US does better than Canada. Let me see your list . . .
  715. Last Minute Review from Canada writes:

    Brian Pelican states that Demento "would appear to have a severe anti-social personality disorder".

    That diagnosis was already noted by Sigmund Freud days ago, who wrote in detail, way above on this board, "It is more like the manipulative man with the antisocial personality disorder, who begins by rushing running in to a crowded party with his pointy elbows held up. And when fist fights follow, from the surrounding men who hit back because he has just smashed their jaws hard with his pointy elbows, the man acts all shocked and innocent and surprised, pretending he is just an innocent bystander guy who cannot believe how aggressive the party folks are. It is pretty classic behavior for antisocial personality disorder, actually, a disorder that has been well characterized over the years."

    Demento's defense, against Pelican and Freud here, is very weak. He argues against the idea of being "able to make a medical diagnosis on the basis of a web forum posts". In actuality, when psychiatrists train, they use case study books in which just a couple of paragraphs of information are given about a hypothetical patient, from which to propose their differential diagnosis. In contrast to that brevity, Demento has written tens of thousands of sentences over the years from which to develop one's differential diagnosis, with hundreds of sentences on just this board alone.

    And, based on Demento's writing, that diagnosis (of traits in the antisocial personality disorder spectrum) have come up several times.
  716. Brian Pelican from Denver, United States writes: Last Minute, you are correct that psychologists and psychiatrists are trained to respond with limited input. How a person acts, but also their style of writing and their written content discloses how they see the world - inflexibility, extreme denial, distrusting and unforgiving are hallmarks. Demented displays all these in his postings.
  717. Doctor Demento from Canada writes: Wow - the envy kings are now working on a bizarre psychological profile conspiracy. Even though nobody has been able to disprove any of my statements we now have a couple of amateur Sigmund Freuds blathering statements about my state of mind.

    Never mind that it was Pelican who, over a year ago while still living in Toronto, took every chance he could to criticize Canada, Canadians and the Canadian political and social system while providing the USA as the nikrvana that every other country on Earth should aspire to.

    So Pelican - where is you list of areas where Canad does things better than the USA? Based on the difference in delinquency rates between our two countries, do you think that issuing mortgages may be one of them?
  718. Doctor Demento from Canada writes: Last Minute Review from Canada writes "Demento has written tens of thousands of sentences over the years from which to develop one's differential diagnosis".

    a) How would you know that?

    b) What does that have to do with your nonsensical contention that a clinical psychologist could make an accurate diagnosis on the basis of a single post totalling 7 brief sentences?
  719. Doctor Demento from Canada writes: Here is an example of Pelican's derangement. On another thread today concerning a plunge in US home construction in March, Pelican made the following post: "Are you kidding - they always run out of happy spin once the Canadian stories are out and reporting of the US stories begins. They know their audience - Canadian seem to like getting the rosy view whether it is true or not - especially if it is positioned, conveniently, alongside a US story with negative spin. It supports the "envy" theory".

    The "negative spin" "envy theory" conspiracy that Pelican accuses the Globe and Mail of is completely non-existent as it turns out that the story in question was straight off the AP wires. In fact I provided a FoxNews link that proved that the headline and story were identical to that in the G&M - but don't count on Pelican to ever admit that he was wrong. He has been conspicuously absent from that thread ever since - he is nothing but a deranged hypocritical sociopath . . .
  720. Brian Pelican from Denver, United States writes: I am afraid with three posts in a row, our Demented friend is proving the psychological assessment of him. A sad soul he is.
  721. Doctor Demento from Canada writes: Avoiding direct debate again Pelican - what are you so afraid of . . . ?
  722. Brian Pelican from Denver, United States writes: Frankly, I'm tired of you. You are rather boring.
  723. Doctor Demento from Canada writes: Tired of losing the debate . . . ?
  724. Doctor Demento from Canada writes: Americans like Pelican and teddy bear are very slow learners, but it looks like they finally figured it out - lol . . .
  725. Joe Citizen from Everytown, Canada writes: NO THANKS TO STEPHEN HARPER ..... ALTHOUGH I AM SURE THAT HE WILL TRY TO TAKE CREDIT FOR IT. HE'S RUNNING AROUND THE WORLD CHAMPIONING THE BANKS OF CANADA AS IF HE GAVE BIRTH TO THEM. THE TRUTH OF THE MATTER IS THAT THE CANADIAN BANKS WOULD HAVE COLLAPSED AS WELL IF HARPER HAD BEEN ABLE TO DEREGULATE THEM ..... BUT FORTUNATELY HE DID NOT HAVE A MAJORITY GOVERNMENT. FOR THE PAST FEW YEARS HARPER WAS CHAMPIONING THE DEREGULATION OF BANKS AROUND THE WORLD. HE INTRODUCED THE 40 YEAR MORTGAGE TO CANADA AND INVITED AIG TO PEDDLE THEIR SUB-PRIME MORTGAGES UP HERE. IF THERE IS A WAY TO LIE ..... STEPHEN HARPER WILL FIND IT !
  726. Grampa Canuck from Belleville, ON, Canada writes:

    It looks like several of the multi-posters here need to get a life.

    I'm referring to the ones that seem to think that their country is what makes them valid human beings. What makes you a valid human being is what's in your heart and in your head, not the arguable merits of one's country.

    I lived the first 26 years of my life in Oregon, and have lived the other 39 years of my life in Canada because, to me Canada was a more appealing country. This does not mean that the U.S. is a bad country, or even an inferior country. In many ways the Pacific N.W. is a very wonderful place to live, and enjoy it very much when I go back to visit my Brother in Oregon. I also enjoyed very much the telecom consulting work I did down the Eastern seabord and the wonderful folks down there I worked with.

    I feel proud to have dual citizenship in two of the most wonderful places in the world with some of the most wonderful people in the world.
  727. Brian Pelican from Denver, United States writes: It is so sad that the G & M feels the need to resurect this envy story - it is really incredible that a G7 country would trade on envy of itself - definitely cringeworthy. The fact that the Canadian economy has fallen by 7.3% in the 1Q is apparently being swept under the rug here. Well, I guess this reflects on the fact that Canada is a US branch plant and US retail chain economy - no thought or innovation in that.
  728. a jewish man from United States writes:
    people were dancing in the streets, in bliss and delight, when the canadian men's olympic hockey team won its first gold in fifty years

    fast forward to 2009, and the canadian banking system is supposedly sound

    yet the reaction of the very same canadians is a lot more subdued - despite claims that the canadian system is a source of envy

    this article is a seriously contrived - and failed - attempt at arousing
    patriotic sentiment

    not even the gold medal, with all the excitement it created, had a running headline for nearly sixty days (this article was published in early march)

    get it into your head. nobody is jealous - and for canadians who claim people are envious.. you.. seriously.. need.. to.. see.. a.. shrink
  729. sleazy Silvester from Vancouver, Canada writes: Pelican and Demento get a life! there's 100's of posts by you 2. No wonder the article is still being shown you 2 are in here everyday clickin on the stupid thing. Just find another article to do this on so this stupid 'envy' article can be put to the grave. This article is like a subliminal Conservative ad, ' Canadian conservatism makes us so enviable' Thats just ridiculous, the Liberals decided not to let the Canadian banks buy up in the Bond & securities market. After it they were probably kickin themselves when they saw the profits the other countries were taking. But now they think there so wonderful. It's all BS and you 2 help to keep it on view so just stop it!!!!
  730. Doctor Demento from Canada writes: Pelican just doesn't get it. While the REMAINING US banks are undergoing "stress" tests, all of Canada's banks are continuing business as usual. If I lived in a country in which banks were going out of business and floundering and the banks in the neighbouring country were in good shape, I would certainly be envious.

    What gives . . . ?
  731. sean smith from Canada writes: What a pile of propaganda. Harper has bought up $125 Billion in toxic debts but this isn't a bailout because we already cover these private corporations losses. This isn't "capitalism" this is corporatism where governments are merely the piggy banks for the corporations who are then free to keep the profits and shaft the people.

    And our banks aren't "conservative" by choice. They are regulated which until a year ago, they fought tooth and nail to end decrying it as "socialism". The only thing that held both neo-lib and neo-con governments in check was whenever they were preparing to cave into the banks the people rose up in anger.

    Its time people focus on the greatest theft of our nation's future wealth in its entire history by these bankster and their puppets in Ottawa. It is they and not the working class that needs to start being on the defensive.
  732. Brian Pelican from Denver, United States writes: Canada's banks are the ENVY of the world, but I see that the BOC is talking about massive stimulus. Canadians think they are sooooo special. No, its not the conservatives who are pushing this envy thing - its all Canadians.
  733. Doctor Demento from Canada writes: Brian Pelican from Denver, United States writes "Canada's banks are the ENVY of the world"

    Finally he admits it . . .
  734. Doctor Demento from Canada writes: Brian Pelican from Denver, United States writes "I see that the BOC is talking about massive stimulus."

    $US32 billion massive? Not compared to the $787 billion US stimulus package contained in the American Recovery and Reinvestment Act of 2009 which doesn't include the $trillon bailouts already taken from the pockets of US taxpayers - but that's OK Pelican apparently enjoys being fleeced . . .
  735. CARLOS MAHABIR from Hamilton, Canada writes: Canadian banks continue to be second tier institutions- marginal on the world economy. They have not played any role in the management of the present crisis.

    Canadian banks continue to do well partly because foreign competition is severly restricted. The Canadian banking system may be good for a branch plant, commodities-driven economy but cannot be replicated in USA whcich has a more open financial system.

    Canada should honour its free trade agreement with USA and open its financial system to foreign competition.

    The Candian banking regulations are also very lax- BRe -X scandal and a major terrorist/drug money laundering haven with ties to many Carribean jurisdictions
  736. a jewish man from United States writes:
    huh?

    saying that other people are jealous of canadian banks is like saying

    canadians are jealous of the US dollar, because it is worth more, or canadians are jealous of fortune 500 companies, because there are more american companies are often bigger than what you find in canada, and make more money

    if canadians are going to use banks as an excuse to justify their belief that they are a source of envy... then canadians a strange bunch of people.

    what a bunch of weirdos you canadians are
  737. Doctor Demento from Canada writes: CARLOS MAHABIR from Hamilton, Canada writes "Canada should honour its free trade agreement with USA and open its financial system to foreign competition."

    The financial system in Canada IS open to foreign competition. Citibank, Capital One and MBNA credit cards are sold to Canadians and ING has a very successful Canadian banking operation. Quite honestly Canadians would not want the kind of banks that Americans use operating in Canada. 25 US banks went under in 2008 and 27 US banks have ceased operation in the first 3 1/2 months of 2009. No Canadian banks have failed at all . . .
  738. Doctor Demento from Canada writes: a jewish man from United States writes "saying that other people are jealous of canadian banks is like saying canadians are jealous of the US dollar, because it is worth more, or canadians are jealous of fortune 500 companies, because there are more american companies are often bigger than what you find in canada, and make more money"

    Not at all. The Canadian banking system has been proven to be sounder than that in the USA, where banks are in extreme distress, with many large ones bailed out by taxpayers and many others having already failed. This has been recognized by the international banking community and Americans are obviously jealous and/or in denial that a small country like Canada could do things so much better . . .
  739. You (a jewish man, from United States) wrote:
    yes... you canadians are weird

    i'd be more jealous if found my girlfriend cheating on me, than having me realize that the canadian banking system was sound

    give me a break
  740. Doctor Demento from Canada writes:

    Envious Americans like a jewish man continue to prove my point beyond all doubt - and they continue to keep this thread alive.

    Unbelievable . . .
  741. a jewish man from United States writes:
    on my google chrome, i did a search for 'demento' and came up a count of two hundred and eighteen hits!

    two hundred and eighteen hits, for this topic alone!

    would a normal adult would come in here and post over a hundred times?

    demento obviously isn't getting enough parental supervision...
  742. CARLOS MAHABIR from Hamilton, Canada writes: Doctor Demento: Yes but foreign banks are severely resticted they are Schedule II banks.

    Frankly, Canadian banks have also been irresponsible - CIBC(yes
    massive losses, faxing confidenatial info to a garbage dump),
    Bre-X, Livent and Olmpia & York.

    The Canadian banking system is good for Canada- a branch plant economy , commodities-driven. It wolu never be replicated in USA

    ANd yes - two solitudes exist in Canadian banking - very few Francophines bank with Canadian banks- they bulit thier own
    "la Caisse"
  743. Doctor Demento from Canada writes: would a normal adult search to see how many posts other posters have made?

    would a normal adult even care?

    a jewish man isn't normal - he's just jealous of Canada's stable banking system . . .
  744. Brian Pelican from Denver, United States writes: What a pathetic sad and empty life demented must lead. I can't imagine he has any friends - looking at his posts, who would want to come near.
  745. Socialism Forever from Etobicoke, Canada writes:

    FROM THE SOCIALIST PROJECT E-BULLETIN, APRIL 27 2009:

    "Quoting a study published on February 18 by the International Monetary Fund (IMF), the French weekly Le Point calculated that Canada ranks third in the world in terms of percentage of GNP allocated in public aid to national banks."

    "Canada's program amounts to 8.6% of GNP, ahead of the USA which is at 6.3%. Disguised in Canada as a market transaction, the Canadian aid package is nonetheless a form of government bank bailout, and by international standards, a huge one at that."
  746. Doctor Demento from Canada writes: Socialism forever - complete poppycock. Provide the IMF reference if you want any traction . . .
  747. Grampa Canuck from Belleville, ON, Canada writes: a jewish man from United States writes: on my google chrome, i did a search for 'demento' and came up a count of two hundred and eighteen hits!
    __________________________________________

    Do you mean you used your Google Chrome web browser to access the Google search engine, whereupon you did a websearch on Dr Demento's handle?

    It now looks like you're trying to challenge his record.

    Anyway, why don't your try some real factual analysis and add some intelligent comment to this thread?

    Signed,
    Grampacanuck
    Born and raised in the Good Ol' USA!
  748. G. Cerveaux from France writes:

    But no, to the contrary, it is the situation as what was described by the Socialism Forever writing, that it is the Canada that is spending a lot of tax money to help the banks.

    It is the Demento who is the one who is not in the right. He sounds like the bad man who is the face for the Canadian banking bourgeoisie.

    He asks for reference, it is right there in the French Press, Economie section of Lepoint:

    "A en croire une étude du FMI du 18 février, le Royaume-Uni a déjà consacré l'équivalent 20 % de la richesse nationale au sauvetage de ses fleurons bancaires. Le Canada, 8 %, et les Etats-Unis, 6 %, un chiffre qui peut sembler faible rapporté à un PNB de 14 000 milliards de dollars, mais qui représente tout de même 1 000 milliards de dollars en valeur absolue."
  749. a jewish man from United States writes:
    Do you mean you used your Google Chrome web browser to access the Google search engine, whereupon you did a websearch on Dr Demento's handle

    no, silly

    google chrome is a browser. you can search for a word on a page and it will return the number of hits... it's a very easy and quick thing to do. three seconds is all it takes

    i did it because i noticed demento was spamming - creating FIVE or SIX consecutive posts with the EXACT same content - repeatedly and i wanted to see how much of this he had been doing

    i strongly suggest you stay out of these boards lest you make yourself even dumber than you already have

    by the way - number of times the name demento is mentioned in here is now two hundred and twenty six (226)

    lol @ demento. what a fool. a man with a child's maturity. or simply just a child
  750. Doctor Demento from Canada writes: a jwish man from the USA is incredibly jealous of Canada's sound banking system compared to the calamatous system that is on the verge of collapse in his own country.

    jewish man's continued presence on this tread and his pathetic ad hominem attacks are proof positive.

    BTW - many of the posts containing the name "demento" were not by me but by a low-life slimy and envious imposter (probably jewish man himself) who really does have a lot of time on his hands. . .
  751. Tim Bryson from Canada writes: I recall back in the 90's, when globalization was seen as inevitable, when any form of state oversight was seen as a sign of insufficient testosterone. The ones calling Canadian banks weak were all the business lobby groups and the National Citizens Coalition. Where are they now?
  752. Doctor Demento from Canada writes: G. Cerveaux from France writes "He asks for reference, it is right there in the French Press, Economie section of Lepoint"

    No the reference isn't provided at all - simply some partisan journalistic hearsay . . .
  753. My Beard Matches My Bong from West of Yonge, Canada writes:

    Who is this bank mouthpiece Demento, and why is he so against the people?

    The tax bailouts of Canada's banks have been all over the smart press here.

    The community paper here, called "Basics", just ran an expose on this last week, called "Canada's Bank Bailout 275 Billion dollars and Counting".

    It spelled out how "in late 2008, the Canadian government injected 75 billion into the Canadian banking system in order to buy up unstable mortgage debts held by the banks".
  754. My Beard Matches My Bong from West of Yonge, Canada writes:

    And it also spelled out how "with a nearly total media blackout on the decision and thus no opposition to check this unprecedented transfer of wealth from the public to the rich, the back room dealings were taken to new levels in early 2009 as Canada's banks were pushing for more bailout money. The Conservative government passed the 2009 Federal Budget which approved an additional 200 billion in bailout money."

    Demento sounds like some far right zealot working for the banks and trying to keep the truth from the people.

    Demento should wake up, the people are on to his tricks. He cannot cover up the massive tax bailouts to Canada's banks that have been taken from our pockets.

    It is right there in the smart press, around the corner and around the world. The progressive journalists at Basics and at the Socialist Project and in France know what they are talking about.
  755. Roger Egert from somewhere, Canada writes: a jewish man from United States writes:

    ........ what a bunch of weirdos you canadians are

    -----------------------------

    well apparently, not as much as you guys. lol

    At least we don't need to watch our backs when walking down the street. Eh?

    Btw, what's with all the anti-canadianism? Miss the limelight?
  756. Stephen Bosch from Calgary, Alberta, writes: You know, I'm basically a left-of-centre guy, but when somebody says something like this:

    "Canada's program amounts to 8.6% of GNP, ahead of the USA which is at 6.3%. Disguised in Canada as a market transaction, the Canadian aid package is nonetheless a form of government bank bailout, and by international standards, a huge one at that."

    ... I cringe.

    "Disguised as a market transaction" -- what does that really mean, exactly? Can you explain?

    Here's what the Bank of Canada has done: it provided "financing against collateral". That basically means I provide you funds in exchange for a claim against the asset. If the assets are actually worth something -- and the assets of the Canadian banks are -- then, in the event of default, you take possession of them. (I should point out that default here is very unlikely.)

    In some parts of the world, that's called a loan. I guess that's a "arket transaction."

    What it's not, however, is a bailout.

    Say you're the Bank of Canada, and you're looking at the large Canadian banks. They're all solvent, but because credit markets are frozen, nobody will lend to them, because nobody is lending to anybody. Do you sit on your hands and let them collapse because they can't stay liquid? Or do you act as the lender of last resort (which, by the way, is supposed to be your job as the central banker)?

    All banks depend on lending to operate and to maintain liquidity. The cash isn't just sitting there to be called up on command (and the bank management would be called incompetent if it had everything in cash).

    This is why the hoi-polloi isn't running the Bank of Canada. A little bit of knowledge is a very dangerous thing.
  757. Doctor Demento from Canada writes: My Beard Matches My Bong from West of Yonge, Canada writes "The community paper here, called "Basics", just ran an expose . . ."

    Oh so we are all supposed to believe that the dribble printed in an obscure left-wing rag is somehow relevant . . .
  758. Join the Socialist Voice Support Marxism in Canada from Burnaby, Canada writes: A discussion page on the Globe and Mail that is dominated by shills and stooges of Canada's banking industry. Who knew?

    Qu'elle surprise...
  759. Silver Standard (We need Tariffs and an end to Globalism) from Canada writes: Why is this thread still here?
  760. a jewish man from United States writes: many of the posts containing the name "demento" were not by me but by a low-life slimy and envious imposter

    considering that you did absolutely nothing to disown the origin of the posts, and considering that the posts were consistent with your opinions, it's obvious that you were the one doing the spamming

    seriously - spamming is a really, really lame thing to do. and as you can see it hasn't changed anyone's opinion

    by the way, you're up to two hundred and thirty seven (237). keep it up, you'll soon hit three hundred

    lol
  761. Doctor Demento from Canada writes: a jewish man from United States writes "considering that you did absolutely nothing to disown the origin of the posts, and considering that the posts were consistent with your opinions, it's obvious that you were the one doing the spamming"

    You were likely the one posting the various spams under fake pseudonyms such as Billy Demento, Sally Demento, Tucker Demento, Patricia Demento, Bobby Demento, Goth Demento. What a waste of space you envious Yanks are . . .
  762. Gord Lewis from Canada writes: Silver Standard (We need Tariffs and an end to Globalism) from Canada writes: Why is this thread still here?
    ____________________________________________________

    Indeed, it keeps popping back up to the top of the list. Gloating is quite unseemly, G&M.

    Oh, and demento, whoever you are, give it a rest. You are managing to lower the already low standard of these threads.

  763. Brian Pelican from Denver, United States writes: How a mature sane person can constantly refer to others as envious of him/his country with a straight face is totally beyond me. As I have said this demented must lead a very isolated life
  764. winston blowhard from Oshawa, Canada writes: Great to see some positive news. Canada is doing well because Canadians are just better in a lot of ways. Our auto industry was doing well, our plants were recognized as the best in the world. We are being dragged down by the American plants. G.M. and Chrysler would be wise to resist the UAW demands to pull out of Canada or we will form our own companies. To wit,. the government and unions want to buy a chunk of G.M.. The U.S. auto industry could not compete with a Canadian auto company.
  765. Joe Citizen from EVERYTOWN, Canada writes: NO THANNKS TO STEPHEN HARPER. IF HE HAD HIS WAY THE BANKS WOULD HAVE BEEN DEREGULATED AND WE WOULD BE IN THE SOUP WITH THE REST. STEPHEN HARPER HAS BEEN PROPOSING THE DEREGULATION OF BANKS AROUND THE WORLD FOR THE PAST THREE YEARS.
  766. Doctor Demento from Canada writes: Clearly Pelican is not a mature sane person - what other reason could there be for him prolonging this thread which he claims to have an extreme distain for . . .
  767. Dick Garneau from Canada writes: Time to blame Harper and those Conservative thinking folks.

    Being in first place, the only way to go is down.

    And there is even talk of no budget deficit.

    We need a Coalition to get us out of this mess.
    .
  768. Mike Glatt from Canada writes: So far the CDN banks have stood up rather well versus a lot of their competitors. The important words being " so far". It is early on in the retraction phase and our industries and consumers are only starting to feel the pain. If I am correct and perhaps someone else can confirm this, but it is my understanding the CDN banks do not securitize a lot of their loans. If this is the case, they potentially could get killed as defaults mount moving forward. They are protected by CMHC on the mortgage lending side but the balance of their lending is at serious risk (especially commercial real estate). It would be great to have a better breakdown of the banks lending activities to see where the monies have gone to be able to make a better assessment of potentially how bad it could get. The only good news right now is the banks cost of funding (at least from deposits) is next to nothing which means whatever lending they are doing is being done at huge spreads but that isn't likely to last. My only hope is that they are not taking on additional risks in other sides of their business in order to make up for losses which have occurred elsewhere. Way too early to pass judgement on how good we are.
    Accting rule changes have not hurt either.
  769. Brian Pelican from Denver, United States writes: Demented seems to hae lost all originality - he is now drawing from my posts. Another sign of an isolated individual
  770. Doctor Demento from Canada writes: Pelican's continued postings only serve to prolong this thread even longer.

    Keep it going big-beaked bird brain . . .
  771. Helping Others Seek Help from Provincial Health, Canada writes:

    Psychiatrists currently accepting new patients in Selkirk, Manitoba:

    Dr. J. Smitherman
    131 Mancester Ave. Suite 25

    Dr. R. Lakewski
    301 Greenwood Ave.

    Psychiatrists currently accepting new patients in East St. Paul, Manitoba:

    Dr. B. B. Aaron and Dr. G. Aaron Inc.
    25 Hoddinnot Road

    Psychiatrists currently accepting new patients in Winnipeg (northeast):

    Dr. H. Atkinson
    104 Springfield Road No. 104

    Dr. V. Kinkaid
    104 Springfield Road No. 106
  772. Doctor Demento from Canada writes: I believe there is a far greater need for a psychiatrist in Denver . . .
  773. EU Football from United States writes: Nice,Canada has overregulated banking system...Wow!!!
  774. Doctor Demento from Canada writes: EU Football from United States writes "Nice,Canada has overregulated banking system...Wow!!!"

    Actually Canada has a well regulated banking system - clearly superior to that in the USA . . .
  775. CARLOS MAHABIR from Hamilton, Canada writes: Canada has had its share of fiascos -BReX, Olympia & York, Livent,

    The banks are reuglated here as foreign competition is stifled.
    However, wheb it comes to fraud, money-laundering- very few white-collar crimes are persecuted here as in the USA.

    Canadian banks have not supported Canadian business with
    oevrseas exports being assumed by EXport Development Corporation
    (federal govenrment)

    The result: very few globally oriented companies

    THis is country facing de-industralisation - it has a manufactuing crisis
    and even natural resource companies being bought by foreigners
  776. Brian Pelican from Denver, United States writes: I would agree with you Carlos, other than digging stuff out of the ground and felling trees, there is very little Canada does that is independent of the US branch plants and US retail chains that it runs in accordance with US bosses' wishes. If it were not for its border with the US it would be the equivalent of a Portugal
  777. Kothar Rumbleg from Canada writes: How is it this thread is still up and running after all this time? My computer memory can barely open the comment section it is that long!
  778. Brian Pelican from Denver, United States writes: It is open because the G & M want it to be open.
  779. Canadian born liberal-conservative Muslim from Canada writes: This has got to be one of the most humiliating things I've seen in my life; this forum. Who the fck cares if Canadian banks are more "safer" than American ones? Why would Americans be jealous of us? I can bet you the name of this very country doesn't strike the mind of Americans more than once a year yet a Canadian probably thinks about America 10 times a day. If people were just stopping clicking on this article, this early March article would cease to exist. It's early May now and this article is still in the top 3 popular articles. Canadians have an inferiority complex and it's disgusting. This "inferiority" complex is also exhibited by the Norwegians and New Zealanders but I am not suprised at all considering big brother Sweden and Australia makes them so jealous and insecure. Same with Canada. Who is Canada's big brother? You guessed it correctly.
  780. a jewish man from United States writes:
    canadians made it a national pastime to mock george w bush.. and the americans who were dumb enough to vote for him - twice

    then when bush failed to mention canada at a speech on terorrism there was a big stink over that... and colin powell had to soothe some ruffled feathers over it by meeting up with john manley and announcing at a press conference that all was hunky dory!

    this is a CLASSIC case of the canadian inferiority complex

    awkward, self-conscious, unsure of oneself, yet rebellious against authority. this describes the mindset of an adolescent

    it also describes that of canadians... a nation acting collectively like a bunch of children. i am 100% serious

    canadians still have a lot of growing up to do
  781. Alex Black from New York, United States writes: a jewish man: Go back under your bridge, troll.

    Anyways, the map-thing in the article says that the Namibian banking system is more sound than the American one.

    You know there is something wrong with your country when some backwater African desert nation has a sounder banking system than yours does.
  782. a jewish man from United States writes: jewish man: Go back under your bridge, troll

    and if there's another term that can be used to describe canadians, it's that canadians are masters at self-delusion

    when confronted with a reality that is discomforting, canadians will simply pretend that it doesn't exist. your post is just another example of this
  783. Corey Canadian from Canada writes: Whoa! Jewish man posted twice.
    He must really have a point.
    Or...
    Maybe jewish man is upset over how much money he's lost due to the economic termoil that his country created and wants to take it out on somebody that's not doing as poorly.
    That, my friends, is an inferiority complex, and very childish.
    It's like when you got a new toy as a child and another child proceeded to tell you how it wasn't that great, to diminish it.
    Grow up jewish man, seriously.
  784. Roger Egert from somewhere, Canada writes: Right on!
  785. Akbar Tofeh from Afghanistan writes:

    I am having Canada envy amid a global meltdown.

    I am so envious of Canada that it hurts when I swallow.

    That is how envious I am.
  786. Stephane Valdimir from Albania writes:

    Me too, I also am so envious of Canada that it hurts when I swallow.

    That is how envious I am. That is how much Canada envy I have.
  787. Mumik Al Saad from Algeria writes:

    Myself, I am having a moderate amount of Canada envy amid a global meltdown.

    But my sister, she is so envious of Canada that she has pain when she swallows.
  788. Jose Pintella from Argentina writes:

    You just can not know how much Canada envy I am having amid a global meltdown.

    My Canada envy is much stronger than the other writers.

    I am so envious of Canada that it hurts when I swallow and also when I am breathing in deeply. It hurts like a knife in my aorta, that is how much Canada envy I have.
  789. Barry James Macky from Australia writes:

    Good day, mates.

    Me, I am so envious of Canada that it hurts like a kangaroo had kicked me in the skull.

    I wake up with deep Canada envy amid a global meltdown. I have had this for about nine weeks now, ever since this news story was put in this paper.

    It is like a fire in my skull, that is how intense my Canada envy is.
  790. Christian Krupp Theissen from Baden Hauffen, Austria writes:

    What is what?

    You do not know the depths of it.

    I have so much envy of Canada that I have not been able to eat struedel in two months, ever since this news article was first shown here.

    I get this burning pain in my stomach every day, that is how much Canada envy I have amid a global meltdown.

    I am so envious of Canada that it hurts to wake up each day. My Canada envy is so severe that it cuts like a saw dripping with vinegar that stings.
  791. a jewish man from United States writes:
    here's another example of the canadian inferiority complex

    canadians squirm at loud overt displays of american patriotism. for example, when the olympics are broadcast on US television, canadians roll their eyes at the sights and sounds of the celebration of american olympic triumph

    and then in the 2008 olympics, canadians are in anguish over canada's medal count - zero - over the first week of competition... and then when canada got its first gold medal, canadians erupted in joy and in celebration. god knows the CBC gave one stinking medal thirty six hours of non stop coverage..

    ... coverage which by the way is devolved into the same american phenomenon canadians were sneering at only shortly before!

    lol

    you can call me a troll, but that doesn't change the fact of the matter... underneath that placid exterior is the Canadian Inferiority Complex

    i've seen so many examples of this kind of behavior exhibited by canadians. it's even more funny when canadians deny something that is so obvious to anyone with half a brain!

    lol
  792. pole cat from Canada writes: Lmao a jewish man your right as is some of the above posters but those are our liberals we love them but they can be difficult at times lol.
  793. Corey Canadian from Canada writes: OK. You win! You win!
    I'm far too insecure in my nationality to take you on.
    Canadians are like candles held up to the sun when compared to Americans.

    Just remember...

    http://carcino.gen.nz/images/index.php/00b9a680/463c5922

    :)

    Have a great day!
  794. a jewish man from United States writes:
    not only are canadians afflicted with an inferiority complex, canadians are mired in an existence full of ENVY and JEALOUSY

    on the one hand, canadians decry americans' greed and obsession with money and material gain..

    .. yet the very same canadians line up in droves when the jackpot for the lotto 6/49 gets big, lest they risk missing out on the chance to get lucky... lured by ads with the slogan can you imagine...

    ... the very same canadians who ASPIRE to be just like those sinful, material obsessed, money grubbing, selfish americans!

    canadian envy is alive and well in canada - make no mistake about it - and it will be around for a LONG time

    lol
  795. Karen Harris from Galiano Island, Canada writes: why is a 2 month old story still most popular... get your I.T. person at the Globe to check how this is being manipulated, please.
  796. Shades of Grey from Canada writes: karen harris, I couldn't agree more. This comes across as a self-congratulatory, Canadian embarrassment. Globe, please yank this story.
  797. a jewish man from United States writes:
    if there's another trait that can describe canadians, it's also that they are very INSECURE

    on the one hand, canadians are firm in their belief of superiority to americans... canada - a kinder, more tolerant, more diverse, and more progressive society, compared to that of america, etc etc...

    fast forward to this article, and it is still the most popular TEN weeks after its initial publication

    this REEKS of insecurity - it's as if canadians can't get enough of the idea that those inferior americans may be jealous!

    it totally reminds me of the simpsons... with homer and his perfect neighbor flanders, and then when homer (canada) has reason to think he's outdone flanders (USA), homer gloats and gloats and can't get enough of it!

    lolol..
  798. Alfredo Stroessner the III from Canada writes: HAHAHAHA!!! Most entertaining thread the G&M has ever had! Thanks to all of those who participated and made me laugh for a good solid 20 minutes!! :) Ya, I'm a Canadian, I love my country, frankly I don't give a $h!t about banks as long as my money is secure, I have American family and friends and have travelled throughout the good ole' USA and have met many wonderful people over the years down there. Likewise I've met many Americans travelling through Canada who loved every part of it. The one thing we all had in common was that each of us were so very greatful to have been born and raised in freedom and stability, where there was always plenty of everything, where we never knew the carnage and brutality of war, mass slaughter or the destruction of entire cities. Get along all of you! We're not supposed to agree on every little thing and nor do we have to share the same world view, but we're the lucky ones! All of us regardless of what side of the line we live on. Each of us can thank our lucky stars we weren't raised in a filthy slum or a refugee camp where starvation and death are a daily occurance. Remember growing up when your cousins from out of town would visit? You'd always think them to be a little weird or slighly different, but in the end it was all good and everyone got along just fine. God Bless Canada, God Bless America.
  799. Hillbilly Bob from now living in the city!, Canada writes: a jewish man from United States writes:

    "if there's another trait that can describe canadians, it's also that they are very INSECURE"

    "what a bunch of weirdos you canadians are"

    ---------------------------------------

    In any given article, all you ever do is insult Canadians.

    I suggest that you are neither a Jew - or an American. You are an anti-semite who want's to make Jews & Americans look bad by posting stupid ideas & labeling yourself as one of them.

    I see they at least taught you to read & write in that madrasah.
  800. Is there anybody out there from Saltspring Island, Canada writes: It's been 2 months now, we can stop reading this over and over.
  801. Patrick Mitchell from Edmonton, writes: Oh this one it truly a classic! Thanks to all the 'writers' from the world-over who described their bodily pain due to Canada-envy. The tears in my eyes make it difficult to type. I am hoping with enough posts we can keep this article going right through to Canada Day - it would be most appropriate. At that point, the Americans will be so envious, we may very well be able to walk right into the White House and take it over without force (this time we will not burn it down - I promise). Thank God Canada Envy is treatable. Heaven forbid anyone catch Alberta Envy. Move over H1N1.
  802. a jewish man from United States writes:
    from wikipedia's definition of the phrase Inferiority Complex

    ... It is often subconscious, and is thought to drive afflicted individuals to overcompensate...

    FACT: canadians have, on more than one occasion, resorted to SPAMMING this message board by making five or six CONSECUTIVE posts claiming that americans are jealous of canadian banks. want proof? scroll up

    another excerpt:

    ... Unlike a normal feeling of inferiority, which can act as an incentive for achievement, an inferiority complex is an advanced state of discouragement, often resulting in a retreat from difficulties...

    FACT: people here have also called me out a troll, instead of facing up to the unpleasant possibility that what i'm saying is true. considering that canadians love criticizing americans, the canadian inability to allow americans to reciprocate amounts to a glaring confession

    and if people object to my generalizations, consider this: this story has been in the top five of the most popular links in the last two months... TWO MONTHS! obviously, this notion of being the object of envy is a source of gratification for long suffering canadians

    canadians DO suffer from an inferiority complex - this much is obvious

    you guys are a textbook example - right down to a tee

    lol
  803. Roger Egert from somewhere, Canada writes: Akbar Tofeh from Afghanistan writes:

    ........I am so envious of Canada that it hurts when I swallow.
    ------------------------------

    Does it hurt when you void too?

    Maybe because you're full of it? Just a thought. lol

    But if so, you should take a laxative, two asprines, and call the doctor in the morning. Or try removing your head from in there.

    lmfao
  804. Trev C from Orleans, Canada writes:
    Good to see that Pelican and this 'Jewish' guy still care enough to write.

    Not a big stretch that our banks are better capitalized.

    My friend in Arizona and I bought houses at about the same time in 2004.
    I needed to put down 25% or pay soimewhere around 3.5% insurance on a $120k house.
    He was given 105% of a $350k mortgage.

    Mine is worth $145k now and his is worth less than $250k.
  805. a jewish man from United States writes: you know something... canada reminds me of stuart smalley smalley is the guy on Saturday Night Live who has issues with insecurity (among other things) and, as a form of therapy gives himself the following recitation every day _I deserve good things. I am entitled to my share of happiness. I refuse to beat myself up. I am attractive person. I am fun to be with. I'm going to do a terrific show today! And I'm gonna help people!_ _Because I'm good enough, I'm smart enough, and, doggonit, people like me!_ i bring up smalley, because it's obvious this story and headline is a form of therapy for canadians it's the only reason why this story would be among the MOST POPULAR for the past EIGHT WEEKS. canadians come here to read - and reread - this story about canadian banks supposedly being the envy of the world, as a form of gratification i (or any normal person for that matter) can't imagine reading a newspaper article over and over again for _eight weeks_.. and counting. wow canadians are eating this up, and obviously getting affirmation by reading (and rereading) this story about canadian banks. seriously - you guys are a bunch of head cases... it would be funny if this was a joke lol
  806. Jim Hester from Canada writes: Dear, a jewish man from United States.

    Perhaps you are right but if we were a confident people - like yourself and your countrymen - we would be up to our ears in trillions of dollars of debt for the next 50 years.

    I prefer to see Canadians as quietly confident and as a nation of only 33,000,000 living next to the highest profile nation in the world sometimes its nice to know that we don't have to live in the elephant's shadow.
  807. Trev C from Orleans, Canada writes: a jewish man from United States writes: you know something... canada reminds me of stuart smalley smalley is the guy on Saturday Night Live

    ----------------------------------------------------------------------

    You're funny. Ever been to another country?

    Most don't need to run propoganda 24x7 to remind its citizens that it's the 'greatest' country in the world.

    I like parts of the US and used to live there for a while but I've been to a few that I liked better.

    It's too bad that people like you don't realize what a great country the US used to be and how far it's fallen. Many strive to gain what you've been given as a birthright. You are either too dumbed down to get it or wasting your time on another countries new sites trying to talk down to its citizens to make yourself feel good.

    Don't bother replying you have nothing to say that anyone wants to hear.
  808. a jewish man from United States writes: You are either too dumbed down to get it or wasting your time on another countries new sites trying to talk down to its citizens to make yourself feel good

    you complain about my talking down to canadians? yawn

    canadians have done the same thing to americans for ages. the only thing is that in canada, this kind of talk is dressed up as patriotism, because canadians will use any opportunity to compare themselves favorably to americans

    what goes around come around. deal with it
  809. marlene stobbart from High River, Canada writes: What wasn't recognized is, "Any manager from low to high level works extremely long hours - more so then any other type of corporation. Canadian Bankers by the time they are 45 have aged ten additional ten years. Productivity at all level is required - particularly with both the Royal Bank and the TD bank. Further, the various chartered banks are quite different in their culture, believe it or not.
    Canada's banks were indeed fortunate in the past for having Canadians at the helm; they were less prone to take risks and were far more cautious. The calculated venture into the US was, in view of the crash, badly timed, even so, the Canadian banks are more solid then any others. So, those who have complained - be grateful your money is still intact.
  810. Old Timer from Timmins, Canada writes:

    So the Canadian above says to an American: "You are wasting your time trying to talk down to another country's citizens to make yourself feel good".

    Now there is he pot calling the kettle black!

    CBC's Rick Mercer on Canadian TV made a fortune with his very popular "Talking to Americans" schtick.

    And all the Canadian viewers did feel good, laughing at all the Americans.

    Pot, meet kettle, kettle, meet pot.

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