Published by my friends at Spagnuolo Law.

The stress test is back in the crosshairs of industry analysts. Earlier this week, CIBC World Markets Deputy Economist Benjamin Tal released a report that attributed an 8% drop in mortgage originations from 2017 to 2018 directly to the federal government’s stress test rules (B-20), which took effect on January 1, 2018. That translates into a $13-$15 billion drop …

It’s pretty clear that the explosive growth in the price of Canadian houses over the last decade was the inadvertent product of an emergency plan to rescue global capitalism in 2008.  There’s more evidence of that in a new book, Firefighting: The Financial Crisis and Its Lessons, published this week by former U.S. Federal Reserve chair Ben Bernanke and two other architects of the …