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Re: The Bankers take over.............
Should work out just FINE!
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Re: The Bankers take over.............
Or as it will be:-
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Re: The Bankers take over.............
"...The bridle fell into disuse for a few decades. Now it’s making a comeback. During the last few years, Canada, Norway, Sweden, Hong Kong and Singapore have imposed various limits on housing loans. Australia, too, is considering such curbs. Last June, the Bank of England asked lenders to limit higher-risk mortgage credit to 15 percent of total. U.S. Federal Reserve officials have warned banks on their swelling portfolios of high-risk debt..."Originally posted by Mega View Post
It wasn't our near useless Central Bank that "imposed limits on housing loans" in Canada. It was the Federal Government Finance Ministry, who belatedly rolled back, in a very small way, some of the excesses it allowed in the mortgage market to "fight the financial crisis" in 2008/09.
At least the Finance Ministry recognizes there is a problem. The Bank of Canada continues to be completely two-faced about it, insisting there is no housing bubble in Canada in the face of overwhelming evidence to the contrary. I have come to the conclusion that the Bank of Canada are disciples of Alan "Bubbles are Invisible" Greenspan.Comment
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