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October 08, 2008

Rewarding greed and stupidity

John Bird and John Fortune explain how markets really work (via Ace). Canadian Flea-readers should be advised several groups might risk being brought into hatred and contempt in the course of their analysis.

On an equally serious, if less satirical, note; some questions and answers on the Canadian economy. David Akin assures us Canadian banks were either too small to have participated in the sub-prime farce or were prevented from doing so by regulation. Consequently, Canada's direct exposure to the mess is not what it is for our cousins south of the border. In the medium term, our resource and manufacturing sectors may suffer but in the short term events may work out well for the aforementioned Canadian banks; the US Federal Reserve may be enlisting them as investors.

Posted by Ghost of a flea at October 8, 2008 08:01 AM