Canadian's of course!
In an article in Newsweek, there's a long discussion about why Canada has weathered this financial storm so well. There's the first headline:
"Canadian banks are typically leveraged at 18 to 1–compared with U.S. banks at 26 to 1"
Well, that disagrees with this chart that I filched off the New York Times a couple of weeks ago that reckons American banks are typically leveraged only 12 to 1 … but hey, we're talking Canadian so the numbers are always bigger, a bit like the mountains and the moose.
Anyways, in the article the author Fareed Zakaria, Editor for Newsweek International, rabbits on about how Canada didn't let regulations loosen, didn't create a false housing bubble, didn't allow mass immigration and did focus on keeping budget surpluses in reserve.
So yes, there's a few things that speak volumes for Canada but there's no point in rubbing our noses in it is there?
OK, so maybe there is … the World Economic Forum state that Canada is the safest banking system in the world.
Meanwhile, I quite enjoyed reading the 60 or so comments on this piece, such as Harryology's:
"U billingual frozenbutts r funny guys… U have no power,no glamour,nobody cares about u, even the terrorists don't bother to bomb u because u r insignificant … a sort of 'Mexicans on ice'."
Nothing like international diplomacy is there?
p.s. thanks to Bryan Foss for the tip on this one