Doing his best Martha Stewart impersonation, our Furious Leader has assured the voting public that his government's $25-billion bank bailout is "good for the economy." It's a "good thing" eh Steve? Maybe not quite as good as if the fundamentals of the Canadian economy were really strong and we didn't have to spring for $25-billion to unclog the credit drains but these days good things come in several flavours, all of them bitter.
Steve says he wants to ensure "greater liquidity" for Canadian banks. Does that mean the banks had a liquidity problem? Why, that would mean that the fundamentals of the Canadian economy really weren't strong, eh Steve? You were just screwin' with us, weren't you?
Just think how much better we're going to be when you spring for your next bailout. I'm sure that too will be a good thing for Canada.
I'd like to know a bit more about these mortgages we're buying. You say they're CMHC guaranteed. If the banks are holding mortgages that are 100% backed by CMHC guarantees why would they be desperate to flog those to you, Steve? Are these definitely Canadian mortgages or are these those miserable, subprime derivatives from the States?
Okay, Steve, one more time. Tell us that the fundamentals of the Canadian economy are strong.