Bank bailout claim pure propaganda
by David Akin
It sounds like a wonderful conspiracy theory: Banks get secret bailout worth $114 billion during the 2008 recession!
Bailout discovered by the Canadian Centre for Policy Alternatives.
In fact, this is all hooey. There was no bailout of our banks. The government did, in 2008, set aside $200 billion to help all Canadian businesses and households hit by the global credit crunch and banks were the tool the government used to help us all out.
Taxpayer money was never at risk of being lost and, in fact, taxpayers are making a tidy profit with the credit crunch assistance program. Read more…