Mr. Speaker, first of all, I would like to offer our sincere condolences to the family of former Speaker of the House, Gilbert Parent.
If the hon. member were to look closely at the transcript of that interview, he would see that I was speaking specifically of the mortgage sector. In the United States tens of billions of dollars are being spent to deal with the problems in the mortgage sector. We do have a cyclical downturn in our mortgage sector but nothing that requires a massive government bailout package for that particular sector.
Notwithstanding the economic difficulties, that is one of the many strengths this country has over the United States.