| One of the enduring mysteries of the financial crisis was how Canada managed to avoid it. There have been various arguments about the structure of its banking system, but I didn't find many of them convincing; they all seemed to basically be lists of ways that the Canadian banking system differs from America's.
And it does differ, in significant ways, but the analysis was far too US centric. Many of the features cited as its crisis prevention are shared by systems in other countries that did have housing bubbles and banking crisis crises. It's not as if Canada had discovered some amazing new way of regulating banks; its methods were at best different in degree, not in kind...............................................Full Article: Source
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