So I am wondering if anyone has the real facts on what our Government here in Canada is actually going to do to "backstop" loans to Canadian businesses - meaning cover the losses in the event of insolvency or bankruptcy, as has been mentioned several times in the media
If there is detailed information out there, I have not found it.
But i am not good at this google thing I guess......
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the government isn't very good at making things google-able. it seems all the 'endangered' business sectors (auto, banks, agro, housing) are already lining up and squaring off for this - and likely requires a face-to-face with govt. certainly no bailouts or backstops for the music/broadcast media industries. that much is already clear (they all supposedly fall under the 'poorly managed company' heading. as for small business? highly doubtful...
ReplyDeletehttp://caiti-online.blogspot.com/2009/01/td-banks-ceo-proffers-up-government.html
http://www.budget.gc.ca/2009/home-accueil-eng.asp