Because this was making the banks look very bad from the get go.
PING!
“Too many drugs?”
A radical leftist with far too much hubris.
That is redundant, I know.
More likely that it would cause the opposition parties to want to go an election, regardless of whether they had money or leaders.
Maybe someone woke up to find a moose head in their bed, eh?
If you examine the law (how it was designed)...it was left entirely to the bank to act (no judge, no prosecutor paperwork, etc).
I suspect that around the 2nd/3rd day of this...some clients said fine...we are going to court for breach of promise, with the original paperwork done to get an account. The banks probably went to the government and said ‘what have done to us’.
It gave powers to bank, which they never asked for or wished for.
Now that protestors bank accounts will be unfrozen, it will be much easier for them to withdraw their money and invest elsewhere.
The left is schizoid. Either they do things and never consider the ramifications further out than 5 minutes, OR they are doggedly trudging along to implement some 50 year plan to install socialism or destroy traditional values.
I haven't heard about this - but then again, American mainstream media is bad, and when it gets to foreign countries, its complete and utter propaganda. Canadian state-run media is certainly avoiding the topic also
Kanadian banking is now branded as untrustworthy and will be reduced to transaction processors.
Has there been a run on banks, either physical or just doing electronic transfers to non-Canadiam banks? Or is this just our side being hopeful that those supporting Trudeau will be punished?
How does this stop the banking crisis? If my funds were frozen and then unfrozen, does anybody think I’d leave my funds in the bank?
It’s amazing how leftist can’t see how bad this looks to everyone else.
And how bad this is for everyone else doing business in,or with, Canada.
Please Lord let this be true and the actions of free oppressed people be seen and heard. Let this change those hardened hearts and bring peace and respect for their citizens.
They always overstep. ALWAYS.
“their dopey decision caused a financial crises in the Canadian banking system.”
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How so? I mean in real terms - was there a run on bank deposits or the like? I hadn’t heard about any blowback of consequence.
I can’t imagine the financial institutions give a whit about looking bad - scruwing people over is feature, not a bug, for them.
Bank runs have a way of causing politicians to back down.
Come on, what do they know about banking. Only as much as it takes to cause a collective stroke in the Canadian economy.
There are costly court challenges that would have been losses for banks.