> Canada has like 40 banks and strong regulation has kept them out of crises like in 2008
Canada secretly bailed out their banks to the tune of $114 billion CAD in 2008. If you compare Canada's secret bank bailout to the US equivalent on a per capita basis it looks even worse. [0]
The reason we didn't hear about it at the time is that the big 5 Canadian Banks have so much power over the government and the media that they were better able to control the narrative.
Concentrating power in the hands of a few banks is a bad idea.
What’s the right number of banks per capita?