Comments on: Bank business lending down for 5th consecutive month http://www.wellingtonfund.com/blog/2009/06/30/bank-lending-down-for-5th-consecutive-month/ News, Views & Purviews Fri, 03 Feb 2012 02:44:40 +0000 http://wordpress.org/?v= hourly 1 By: Sean Vrbica http://www.wellingtonfund.com/blog/2009/06/30/bank-lending-down-for-5th-consecutive-month/comment-page-1/#comment-1712 Sean Vrbica Wed, 01 Jul 2009 06:20:31 +0000 http://www.wellingtonfund.com/blog/?p=2456#comment-1712 It's down again because Canada's banks are way too damn conservative - and this 'recession' of sorts has made them even worse. Sure, our system has fared better than many others over the years, but at what cost? An overall lack of innovation. If Canadian banks became more accepting of risk and took chances on up-and-coming businesses or even newly formed startups, I guarantee Canada would move up in the OECD Innovation rankings (at last check, we were 13 out of 17). It’s down again because Canada’s banks are way too damn conservative – and this ‘recession’ of sorts has made them even worse. Sure, our system has fared better than many others over the years, but at what cost? An overall lack of innovation.

If Canadian banks became more accepting of risk and took chances on up-and-coming businesses or even newly formed startups, I guarantee Canada would move up in the OECD Innovation rankings (at last check, we were 13 out of 17).

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