Top Canadian Banker Explains Green Strategy

Canada's banking system is one of the best regulated, and modulated, in the world, which is why no Canadian financial institution went bust during the 1930s Depression, nor did any even seriously wobble during this year's meltdown.

The result is that Canada's five biggest banks, with their investment banking subsidiaries, have catapulted from the back of the world's 50 biggest banks to 10th slot for the biggest, The Royal Bank of Canada.

I recently interviewed -- for a series running in the Financial Post and CBC (Canadian Broadcasting Corporation) -- the Royal's Chair/CEO, Gordon Nixon, about environmental and financial sustainability, the meltdown and what's next in the world of finance. Here's the interview in full.

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"The answer is not regulation or laws but a set of principles. There is no question an incredible amount of liquidity, combined with ingenuity, led to the development of some products and markets that went too far and failed the test."

Incredible! His banks survived because they had MORE REGULATION than the USA banks, and greed still drives him to chaff at any constraints!