Financial Sector Needs Overhaul to Stay Competitive

Published August 1, 2007

Those tall skyscrapers at the corner of King and Bay in downtown Toronto are an important symbol of Canada's economy, a place where billions of dollars of savings are daily converted into mortgages, business loans, corporate bonds, shares in companies, venture capital for start-up companies and big infrastructure projects.

This is one of Canada's most important industries. It embraces banks, insurance...