Mr. Speaker, the Prime Minister constantly reiterates that the Canadian economy is coming out of the recession thanks primarily to the regulations that govern our banking institutions. There was a time when the Conservative Party was calling loudly for deregulation of the banks. In 2000, the present Minister of Indian and Northern Affairs complained that the banks had to comply with rules from the previous century, referring to the stringent regulations concerning banks.
Does the Prime Minister realize that if we had listened to his party at that time and deregulated the banking system, that would have been a major mistake in both political and economic terms?