This essay started out as the role of social media in the 2016 election — and I have a solution for that. But the essay mostly talked about the conditions leading to the 2008 recession. So I’m a little confused. Maybe this is part of a series.
Canadian banks were regulated and thus could not issue silly mortgages. Hence their exposure to bad loans was not high. No Canadian banks failed; no taxpayer dollars went into propping up a Canadian bank. In fact, a couple of Canadian banks went south of the border where there was a little banking vacuum.
USA hasn’t learned from teh Canadian example. Banks remain unregulated — so we should expect another self-induced recession.