Confederation Life and RBC

Too big to fail this in part is why the federal

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Unformatted text preview: con)nue to rise and that people would con)nue to pay their mortgages. They were wrong. U.S. Sub- prime Mortgage Crisis •  The U.S. Financial Crisis Inquiry Commission reviewed the crisis and in early 2011 determined that: –  The crisis was avoidable. –  Failure in oversight by the Federal Reserve contributed to the crisis. –  Breakdowns in corporate governance and taking on too much risk for short term financial gain occurred. –  Excessive borrowing by consumers and excessive spending furthered the downward spiral. –  Government failed to see the signs and act accordingly earlier. –  A breakdown in accountability and ethics contributed. Key differences in the American and Canadian Banking systems •  In Canada the federal government had the power to regulate and charter banks. •  T...
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This note was uploaded on 01/26/2014 for the course LAPS ADMS 1010 taught by Professor D.jurkowski during the Winter '10 term at York University.

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