Despite the misleading description in this Globe article the Tories are now going to buy some mortgages held by the banks and you can be sure they are not the most secure ones.
A plan originally earmarked for Friday morning would see the government assume some mortgages currently held by the banks by giving them to the Canadian Mortgage and Housing Corp., a Crown corporation.Apparently Harper and Flaherty have just discovered that some urgent action might be required after all and that the crashing stock markets are not necessarily, just good buying opportunities.
Last week Harper had argued that the economy is strong enough not to require urgent action, and that the stock-market plunge was a buying opportunity.
Apparently that messaging has come to an end, however, as the Conservatives try to appear more sympathetic in helping put an end to the turmoil.
As the election campaign comes to its conclusion, Mr. Harper has argued that Canadians should re-elect the Conservatives because they are the steadiest hand in guiding the turbulent economy.
Nope don't really think so Steve.
Like the majority of Canadians I’m not quite as confident about your abilities as the Globe is.
I don’t think your misleading, laissez faire attitude, your last minute platform (did you really not think that you needed one), or the loose lipped remarks by your finance minister about two Canadian banks has instilled much confidence throughout the rest of the world either.
The Canadian dollar is in free fall at 86 cents US.
Steve, do us one last favor here, and keep Flaherty away the from the economy until Tuesday when we elect some steadier hands and tighter lips.