The disease is spreading all over the globe and fast! Is there a island of free market left somewhere?

From the article:
ensure that higher borrowing costs donít crimp lending.
I am sorry, but what is wrong with lower prices? I want lower prices when finally decide to buy my house. Oh I forgot: it means lower taxes for them.

BTW, Canada's GDP is roughly 1/10 of the US. So this "repo" from the banks is relatively just as big as Paulson's bailout.


Canada Purchases C$8 Billion of Mortgages From Banks

By Greg Quinn

Jan. 14 (Bloomberg) -- The Canadian government bought C$8 billion ($6.46 billion) of mortgages from banks, as part of a program to buy as much as C$75 billion of the securities and ensure that higher borrowing costs donít crimp lending.

Canada Mortgage and Housing Corp., a state-run agency, announced the purchase today on its Web site. The transaction is aimed at helping banks fund new loans to consumers and businesses. Finance Minister Jim Flaherty tripled the amount the government was willing to buy.

Continued Here:
http://www.bloomberg.com/apps/news?p...g&refer=canada