Remember back before the “there will be no recession or deficit” election when Harper mused about the excellent buying opportunities? Well he thinks he finally found them. .. err well for Canadian banks that is. The PM’s latest bout of market savvy was reported in the FT:
Canada’s banks should capitalise on the relative strength of their balance sheets by acquiring assets in the US and other countries, Stephen Harper, Canada’s prime minister, told the Financial Times on Monday….
Mr Harper indicated Canada’s banks could lead an eventual charge toward consolidation, and said he would support such efforts as “an opportunity for Canada to expand its role in the world financial sector”.
“I’m not going to try running banks, but I hope our banks will see this as an opportunity to build the brand – the country’s brand, their own brand – and to expand their scope and profitability over time,” Mr Harper said.
That’s the ticket! An over bloated financial sector in Canada. Just the kind of globally stretched, politically corrosive on the body politic, economic crap producing juggernaut that Canada needs as the cornerstone of its economy going forward.
Because it turned out to be such an impressive success for the UK and the US right?
I particularly like the line: “I am not going to try running banks.” Buddy, if you can not imagine running a bank why do you imagine you can run a country?
Who is this pie-eyed chruch mouse and why is he our PM?
Relentlessly Progressive Political Economy 