The Oil Drum: Canada

Looks interesting out there today, noticed that gold had spiked sharply to about 744 up aprox 10$ , looked at the DOW and it was rapidly heading south because of oil price rises and that old standby culprit, profit taking;)

When reading that news at Yahoo I noticed this comment in a minyanville article,

In October of 1987 the market crashed. Real estate was strong, the economy was firm, but the dollar was an issue. In 1929 when the market crashed the dollar was strong and the economy was firm. What’s wrong with the current picture:

* The Fed is creating all the money that’s fit to print.
* Real estate is suffering worst decline in a generation.
* The dollar is making forty-year lows.
* The economy is soggy and may be on the verge of tanking.

http://www.minyanville.com/articles/1929-crash-Great+Depression-1987-Ben...

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This should stir things up a bit. Is is the securities commission that has to assure transparency or is that some delusion I have?

In a lawsuit filed in federal court in Manhattan, the Teamsters Local 282 Pension Trust Fund alleged the New York company's ratings of bonds backed by subprime mortgages -- including bonds packaged as collateralized debt obligations -- were materially misleading to investors concerning the quality and relative risk of those investments.

http://globaleconomicanalysis.blogspot.com/

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From this article above: Stalemate threatens Montreal rescue plan for ABC

Simply put, the source said, the only way for the logjam to end is for the federal government to step in and take control. If that doesn't happen, the consequences for the Canadian economy could be dire, he said.

What would the govt need to do here? Pass the hat?