Saturday, March 22, 2014

God save the Queen

Thanks to her ability to appoint the members of Canada's upper house (Senate), rather than their being elected by Canada's populist electorate, the country was spared the financial crisis that hit the USA in 2008-09. And, that's been traditional in Canada for almost two centuries now, says Charles Calomiris in an informative, short audio interview with Romesh Vaitilingam, from

Well worth the 23 minutes it takes to listen, if you want to know why the Canadian banking system provides more credit to its citizens, without all the crises Americans have had to weather, right next door. But, Housing Cause Denialists will want to hide their ears.

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