Canadian Banks Not Run By Crazy People

http://www.bloomberg.com/news/2010-09-09/canada-banking-system-is-world-s-soundest-economic-forum-says-in-survey.html

When people think of Canada being 1^st in the world in some category, we think immediately to hockey, which we should always be 1^st in, but for the 3^rd straight year Canada’s banking sector has been ranked has the worlds soundest.  In the time of bank failures and bailouts it should be a source of pride to be ranked as the soundest banking system in the world.  This can be seen as a thumbs up to the regulation of a countries baking system, and a lesson to our neighbours from the south that treat government regulation like the plague.  It’s not like our banks didn’t suffer, they did have to write off billions of dollars, but they did not have to get bailed out by the government.  Many citizens are concerned that the Canadian government has had to go into deficit but they have to be thankful that the government didn’t have to bailout banks like the US government did, if that had occurred the deficits would have been a lot larger.  As Canadians we can be proud that our banks are run by people that aren’t crazy, and thanks to that our money is safe.