When Boring = Great

John Lorinc profiles Mark Carney, the governor of the Central Bank of Canada. While the rest of the developed world’s banks are on life support, Lorinc writes that Canada’s financial system “has sailed through this crisis with its international reputation almost unscathed.” Carney is also a vocal advocate for increased regulation of the financial sector and is one of the primary architects of the G20′s regulatory reforms. [%comments]

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  1. Sibylla says:

    What a strange definition of “the developing world” you have…

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  2. Alan says:

    “While the rest of the developing world’s banks”…

    Is this based on a new definition of ‘developing’=that which does not stagnate/shrink?

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  3. michael webster says:

    I expected much more out of John Lorinc. This is a well written article, but doesn’t begin to scratch the surface of the real debate: was Canada well prepared or simply lucky to be late to the sub prime party?

    Lorinc is an excellent reporter, but this is not vintage stuff.

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  4. Mike says:

    Australia similarly unaffected.

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  5. Phil H says:

    Australia’s banks are fine, too…

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  6. Royston says:

    There are many areas in which Canada’s banks are actually LESS regulated than banks in other countries. This lack of regulation (or over-regulation in other countries) also helps to keep Canada’s banking system strong.

    There’s a big difference between “more regulation” and “better regulation”. There are some areas where banks need to be regulated, and other areas where they need to be left alone.

    http://online.wsj.com/article/SB124165325829393691.html

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  7. Sean says:

    Canada has long been rated the top country in the world for bank strength and stability.

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  8. fil says:

    We were late to the dot-com boom too.

    The bursting bubble gave us barely a hiccup.

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