Mr. Speaker, my answer, simply, is that Percy Crawford, who established the rescue plan in connection with the whole issue of banking papers, said that the impact of the system would have been no different had it been a centralized system. The OECD considers the Canadian system second in the world in terms of its reliability.
In the financial crisis, however, this is not where the problem lies. We must establish how those responsible made the investments. The bottom line is that the brokers accepted a product that was unacceptable. This situation was repeated worldwide, where there were centralized systems and where there were decentralized systems.
Still, in this matter, Mr. Crawford, the person who succeeded in coming up with a solution to avoid a totally negative fallout, a leading light in Canada, said that a centralized system would not have improved the situation in any way.