> Canadians will conflate that into 'the banking industry shouldn't be touched' -- even though there's only six banks and they charge more in fees than American banks. (Which is saying a lot.)
There is a bigger picture here. Our fees may be more (I have no idea), but our interest rates are higher for deposits most of the time. You're not considering any other factors for the higher prices. Personally, if our banks are making a lot of money, not putting everyone in the poor house and offering some of the best financing rates and deposit interest rates in the world, why do they need to be touched? I don't understand the motivation to make changes to something that isn't broken. The banking industry will never be perfect. If you're hoping for this utopian world of low/no bank fee, open market, low interest, high deposit interest, I think you're going to be disappointed to find out that it doesn't exist. Proof of such is in abundance.
> And god forbid anyone say anything against the CMHC, which is a secretive time-bomb more leveraged than Fannie Mae ever was.
CMHC also needs restructuring, but again, not deregulation. Why do we have it in our heads that corporations are less evil than the government? The government and corporations should exist with a set of regulations so that decisions made are for the benefit of the world, not just investors. The government and corporations both fail miserably without intervention and debate. It's not okay for the CMHC to be in secrecy, but it's also not right for Fannie Mae, either.
> for all we know, our housing crisis might still be ahead of us.
> But hey, at least it's not America!
Come on, really?