We Canadians just love believing fictions about ourselves especially when they allow us to climb up on high and sneeringly look down on others from a position of perceived superiority.
Well we can now officially add to our long list of delusions the fiction that Canadian Banks were not "bailed out" during the financial crisis. This is yet another example of a lie when repeated often enough, perversely becoming accepted as reality.
The "Best banking system in the world" in fact received at least $236 billion from the Canadian and US governments in bail out funds, of that total Canada chipped in $125B and the US $111B
One could argue whether or not they needed to be bailed out,however the fact that they were is a reality.The mere fact that our money was used to shelter these institutions from the consequences of their risky and perhaps fraudulent practices was in my opinion criminal, particularly so if one chooses to believe that they didn't actually need to be bailed out at all.