There was no alarm to be sounded around the world or in Canada because the market was functioning. We did, as regulators, talk about the complexity we were seeing and the fact that triple-A-rated instruments were being created out of other things. We were questioning whether that was appropriate, but we were focusing on risk to banks. I think when it comes to the banking sector we have a good story to tell, compared to some other countries in terms of the solidity of banks.
On June 16th, 2008. See this statement in context.