This is an article that I found very interesting to read when I first came across it. The article looks at the Canadian economy, more specifically the Canadian banking system, and compares it to the banking system we have here in the United States.
I personally found it very interesting especially with the state of our economic state of our country. This article gives a good example that I believe our government should look at and try to take idea from to strengthen and stabilize our banking system.
Here are a few key quotes:
the Canadian dollar — the “loonie” — which is up more than 55 percent against the U.S. dollar in the last ten years.
you can’t have a healthy economy if you have a sick financial system. The fact is that the Canadian banking system has not suffered a serious crisis since the 1930s. Compare that to the pattern of rapidly recurring crises that have rocked the U.S. banking system since the 1980s.
Canada ranked a lowly 18th out of 21 industrialized nations in the share of its banking market held by foreign banks.