About Me

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Delta, British Columbia, Canada
I took very early retirement from teaching in '06 and did some traveling in Europe and the UK before settling down to do some private tutoring. As a voracious reader, I have many books waiting in line for me to read. Tell me I shouldn't read something, and I will. I'm a happy, optimistic person and I love to travel and through that believe that life can be a continuous learning experience. I'm looking forward to traveling more some day. I enjoy walking, cycling, water aerobics & and sports like tennis, volleyball, and fastpitch/baseball. I'm just getting into photography as a hobby and I'm enjoying learning all the bits and bobs of my digital camera. My family is everything to me and I'm delighted to be the mother of two girls and the Gramma of a boy and a girl. I may be a Gramma, but I'm at heart just a girl who wants to have fun.

Friday, October 10, 2008

Trust, Canada-style

Canada is taking a proactive step to avoid a situation like the United States of America is currently facing.
The federal government is buying up $25 billion in residential mortgages to give the chartered banks additional cash to issue loans, Finance Minister Jim Flaherty announced Friday. . . extraordinary measure means Ottawa, through the federal government and the Bank of Canada, will have injected a whopping $45 billion in additional cash into the financial system in an effort to counteract the tight credit squeeze that has paralysed markets throughout the world.
Although the market did drop today, Canada isn't facing the same severe problems as other industrialized countries. Our finance minister will be speaking at the G7 meeting in Washington today and will argue for tighter regulations of the kind that has kept Canada's banking system solvent in the midst of this current global crisis.
These measures are aimed at stabilizing the country's troubled lending industry - measures he predicts will prod banks to further lower their lending rates.
To see the entire article click here. Hopefully my next statement from TD Waterhouse will reflect a return of my recent losses.

5 comments:

holly said...

i'd like to borrow some money on behalf of britain....

we (oops) put some money in iceland banks.

leslie said...

Oh NO!!! Holly!!! NO!!!

Poor you!

:(

Bear Naked said...

As of today our retirement savings are down 25 percent.
My husband is talking about going back to work.
I feel physically ill about what is happening.
All our lives we lived within our means, never bought what we couldn't afford and saved saved saved for our retirement and now this.
I feel like crying.

Bear((( )))

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