Mr. Speaker, if the two bank mergers go ahead, the two large megabanks will have 70% of the banking assets in this country.
It would take about 100 banks in the United States to have 70% of the banking assets in that country. I submit this is obscene concentration.
In the name of democracy, is the minister now prepared to establish an all party parliamentary committee to study these two mergers and give Canadians a chance to say their peace?