A policy of procrastination on bank mergers
While the Canadian government dithers on producing new guidelines for bank mergers, says Tory Sen. David Tkachuk, foreign-merged banks are making substantial inroads into the Canadian marketplace.
At a November 2002 Liberal fundraising dinner in Toronto, Prime Minister Chrétien said in an off-the-cuff remark to the bankers in the room that, "Maybe if you are nice, you never know." (Reported in the National Post on Nov. 30, 2002.)
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