British financial analysts and politicians are full of cosy noises about what a sensational place is Canada. Right you are, old boy. A blog post by Liz Phillips of the Telegraph (London) casts this appreciation of our economy in the glow of the Royal Visit. But really, it’s a matter that is both complicated and simple. Complicated if bankers lose their heads. Simple if they don’t. In the end the first principle of banking is: Don’t lend to people who can never, ever pay you back. The second principle is, well, read the first principle.
