by Jerry O’Driscoll
No, I’m not offering up a delayed report on the Olympics. But I am following up on earlier post on why Canada avoided a banking crisis.
In today’s (March 19) Wall Street Journal, AEIs Alex Pollock provides an important piece of the puzzle. Canada avoided a housing crisis, the progenitor of the U.S. banking crisis. It did so by having sounder banking and housing policies. Above all, it had no Fannie Mae & Freddie Mac.
Canada isn’t a free-market paradise. But it beats the U.S. in banking and housing policies. I commend Alex’s article to you.