American versus Canadian banking systems

[stef_tm]

Op Ed in the NYT
http://www.nytimes.com/2009/02/28/opinion/28tedesco.html

False dichotomy. Plenty of banks did not do subprime loans; e.g. American Credit Unions

eta we should have let the banks fail, imnsho.

Comments

[revdrmarsh.livejournal.com]

I totally agree that we should have the banks fail. Then other banks will pick up the assets and do something with them. Instead of just paying those who failed in a spectacular way.

[curiouseve.livejournal.com]

Basically, I agree with you. Bad business should not be rewarded with government bailouts.

That's like spending your retirement money and then counting on your rich sister to support you when you're older.