May 12, 2012

The big banks' big secret

In 2008 Stephen Harper said that Canada has the only banks in the western world that were not looking at bailouts. But a new report says that several banks did need extra money.
May 1, 2012
Canadian Imperial Bank of Commerce in Montreal. Photo: Wally Gobetz/Flickr

Study reveals secret Canadian bank bailout

David Macdonald
The CCPA released my report, "The Big Banks' Big Secret," which provides the first public estimates of the emergency funds taken by Canadian banks.
Apr 3, 2012

Using debt for the common good

Could we have a system where public credit was used for public works, and the common good, rather than to generate private profit, and feed corporate greed? Yes, we could.
Dec 2, 2011

Of bailouts and liquidity shakedowns

The banks were absolutely stabilized, and possibly saved, by extraordinary government interventions. Whether you call that a bailout or a "liquidity injection" is all in the semantics.
Nov 23, 2011

Closing accounts with Wall Street megabanks

Occupy protesters marched on local branches of banks, so participants could close their accounts, and others could hold teach-ins to discuss the problems created by these unaccountable institutions.


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