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September 12, 2011


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Erik Gerding

To play devi's advocate: what if, instead of fighting regulatory capture, we try to make it work. What if we admit that big banks are naturally going to be cozy with regulators? Under certain circumstances, this gives regulators better information and additional tools -- like moral suasion -- to influence big banks.

Some commentators attribute the concentration of banks in Canada to the success of Canadian regulators in heading off subprime investments by banks. Is there any validity to this, Christie?

I've always wanted to ask you the big question: "Just how did you Canadians avoid the crisis?" Is there soemthing about the regulatory environment or process in Canada that gave it an advantage?

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