Canada's Flaherty expected to announce more help for banks

Canada's Flaherty expected to announce more help for banks

www.cbc.ca

Finance Minister Jim Flaherty has scheduled a news conference for Thursday morning before stock markets open amid speculation that the federal government is ready to take major steps to guarantee loans and bolster the security of bank deposits.

The anticipated measures are aimed at helping Canadian banks weather the storm during the global financial crisis sparked by the collapse of the credit market in the United States.

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Well, looks like things are really starting to catch up with us here in Canada now. Funny considering just three weeks ago our recent re-elected PM told us that our banks were among the strongest in the world and would be able to "wether the storm", of the financial crisis.
Personally for myself I knew we were in for bad time just watching my invested RRSP's drop 25% over the last 8 weeks.

Not to mention our Dollar has been dropping like a rock last week or so, and with Oil prices dropping like a stone and the US really slowing down on what they buy from us. Canada looks to be in some very big trouble here soon.

And here I thought we would be better off, if not ok than most from the looks opf things we are going down that hill just as fast as everyone else.

It truely is sad how so few many people could screw everything up for the entire world it seems.

www.cbc.ca
(visit the link for the full news article)