Thursday, October 23, 2008

Jim jumps in to action

Our finance minister Jim Flaherty should be starting his news conference about now, before the financial markets open where it is assumed he will finally:
  • Guarantee loans made by banks to other financial institutions
  • Raise deposit insurance levels (currently capped at $100,000)
I guess Jim's original plan of continually reminding us that the Canadian banking system is the best in the world isn’t working out as well as expected since the TSX lost over 550 points yesterday and the dollar dipped below 80 cents US.

Hey Jim, I was just starting to warm up to your original plan...

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