Madam Speaker, the bill was introduced in this Parliament on November 23, 2011. That is not at the last minute. I appreciate that the hon. member does not believe in the Senate. However, the Senate is still a constitutionally important part of our parliamentary system. The fact that we introduced it in the Senate first instead of in the House does not mean that we have cut short the time. In fact, it means that we have had ample time. It would still have to go through the Senate to become law.
It is important that we have the bill in place. We are very fortunate in Canada to have what has been voted the world's soundest banking system the past four years by the World Economic Forum. That is a testament to the oversight provided by this government and the institutions that are established by it. The laws and rules we have in place are very strong. This review has revealed that indeed they are strong. We do not need dramatic change, although there are a lot of technical changes that need to occur.
I hope we will not have a debate like we have in the past, where people thought it was about old age security, or what French socialist political leaders say, or the Canada pension plan, or natural rates of unemployment. I hope that all those people who the member said want to speak this time will actually speak about the bill instead of what we heard the last time.
This is an important bill that would ensure that our banking system continues, stays sound and continues to function in the best interests of Canada. The strength of our banking system has been a bulwark of our economic success during a very challenging time globally. Other countries look at our system with envy. We should look at it with pride. This is our opportunity to endorse that.