The banks are begging to be regulated. "stop us from lending so irresponsibly" they are pleading to Flaherty. "We can't stop ourselves. While the other guy is pushing debt, we have to do so too, or our bonuses will suffer".
Flaherty says he won't have anything to do with it. He is a free-marketeer after all, see what they did to the Wheat Marketing Board. Unless of course you are the CMHC.
Carney witnessing the catastrophe of debt he has helped unleash is begging both sides to - please show more restraint.
Now consumers have their say. Don't lend us so much! They have this sweet naive notion that the banks who are lending them the money are somehow working in their best interests.
Will no-one accept responsibility??