The G-7 Crime Syndicate turns on the G-7 Godfather

[marmar]

from Bloomberg:



Canada's Harper Joins G-7 Chorus, Pins Crisis on U.S. Policies

By Theophilos Argitis

Sept. 28 (Bloomberg) -- Canadian Prime Minister Stephen Harper said U.S. policies helped create the crisis in financial markets, adding to criticism from other Group of Seven leaders and saying there's little his government can do to help.

Poor oversight, cheap credit and a tax structure that may encourage housing bubbles are among the causes of the turmoil roiling U.S. markets, Harper said in an interview with Bloomberg News. Harper, vying for re-election on Oct. 14, has framed his campaign around the notion he's the best party leader to steer Canada through economic turbulence.

``A lot of things have gone wrong here and, by the way, there were a lot of warning signs. This should not be a huge surprise,'' Harper, 49, said aboard his campaign plane. ``I certainly had expressed my concerns about some of these things to my American counterparts in the time leading up to this.''

Harper joined a growing chorus of criticism within the Group of Seven industrialized nations over the way the financial system has been managed in the world's biggest economy, highlighting the U.S.'s isolation as it seeks to stop the rout. Canada is the biggest U.S. trading partner and one of its closest G-7 allies.

French President Nicolas Sarkozy, speaking at the United Nations on Sept. 23, urged a November summit of the world's major economies to deal with the ``mad system'' that he says produced the meltdown. German Finance Minister Peer Steinbrueck used a speech this week to say the ``Anglo-Saxon'' model of banking has ``an exaggerated fixation on returns.'' ......(more)

The complete piece is at: http://www.bloomberg.com/apps/news?pid=20601087&sid=ams6XK7VMiLg&refer=home