The Canadian Solution

"Canadian banks are typically leveraged at 18 to 1--compared with U.S. banks at 26 to 1.
Published Feb 7, 2009
From the magazine issue dated Feb 16, 2009"

The legendary editor of The New Republic, Michael Kinsley, once held a "Boring Headline Contest" and decided that the winner was "Worthwhile Canadian Initiative." Twenty-two years later, the magazine was rescued from its economic troubles by a Canadian media company, which should have taught us Americans to be a bit more humble. Now there is even more striking evidence of Canada's virtues. Guess which country, alone in the industrialized world, has not faced a single bank failure, calls for bailouts or government intervention in the financial or mortgage sectors. Yup, it's Canada. In 2008, the World Economic Forum ranked Canada's banking system the healthiest in the world. America's ranked 40th, Britain's 44th.

I could go on. The U.S. currently has a brain-dead immigration system. We
issue a small number of work visas and green cards, turning away from our shores
thousands of talented students who want to stay and work here. Canada, by
contrast, has no limit on the number of skilled migrants who can move to the
country. They can apply on their own for a Canadian Skilled Worker Visa, which
allows them to become perfectly legal "permanent residents" in Canada—no need
for a sponsoring employer, or even a job. Visas are awarded based on education
level, work experience, age and language abilities. If a prospective immigrant
earns 67 points out of 100 total (holding a Ph.D. is worth 25 points, for
instance), he or she can become a full-time, legal resident of Canada.

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