What Accounts for the Genius of the Canadians?

Canadian Banks are well capitalized and poised to take advantage of opportunities in this financial crisis because of common sense.  Over the past 15 years, as the US and Europe were loosening regulations on their financial industries, the Canadians refused to follow suit.  Canadian banks are typically leveraged at 18 to 1, compared with US banks at 26 to 1 and European banks at a frightening 61 to 1.  Guess which country, alone in the industrialized world, has not faced a single bank failure, call for bailouts or government intervention in the financial or mortgage sectors.  Yup, it's Canada.  According to Newsweek Feb. 16/09 issue, in 2008 the World Economic Forum ranked Canada's banking system the healthiest in the world.  This is extremely good news for us - "don't you feel a whole lot better about being Canadian".

John O'Leary

John O'Leary

Managing Broker
CENTURY 21 Wenda Allen Ltd., Brokerage*
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