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Canadians Go Unscathed

Picked it up a few weeks ago on The Bankwatch, FT writes about how many Canadian Banks have remained insulated from the crisis that’s taking a toll on banks around the world. The US President had some good words to say about the Canadian Financial system too: “Canada has shown itself to be a pretty good manager of the financial system in ways that we haven’t always been here in the United States,” Mr Obama told a Canadian broadcaster. Canadian Banks, according to a report by the World Economic Forum have remained the soundest in the world. And two Canadian Banks, Toronto-Dominion and RBC are among only seven banks worldwide that still carry a Moody’s Triple-A Credit rating. More here.

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