You have a point there. But I don't think CANADIAN taxpayers bail out banks, that is more of an American practice. Our banks seem to be well run, and from the experience of just getting a small mortgage when I upgraded real estate and finding out first hand how closely I was examined before being approved for a mortgage (even thought I was more than covered by my own investment portfolio) I doubt very much is that problem will occur very often in Canada. Any cash you have over and above about $1000 you have to prove where it came from as they are so leery about laundered money now. Cash is no longer King. Just try buying a house with half a million $ cash....................................:lol::lol::lol::lol::lol::lol::lol:
I'll have to find the exact article - but the Canadian taxpayer DID bail out the banks - well, we bought the "risky" mortgages from the CHMC at the tune of $1 B or $10 B or something like that - to "improve liquidity" for the banks.....