The Canadian Press

1981-09-26 | High Interest Rates

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Robert McIntosh, president of the Canadian Bankers Association, met with Finance Minister Alan MacEachen and representatives of the banking community September 26. He said lending institutions were dealing on their own with hardship cases arising from high interest rates. And he said there was no need for the government to come up with major new programs to help homeowners.

Date: 1981-09-26
Placeline: OTTAWA, Ontario.
Source: The Canadian Press
Length: 33 seconds

Transcript Prediction: << the banking institutions and the others are saying that when it comes to hardship cases that are pushing people right over the cliff on the banks will deal with them on a one-by-one basis they are dealing with them in that way they are deferring interest where that's appropriate and finding different ways they're telling their counseling people on how to handle their finances with liquidating their assets and other forms of matter in some cases but with there was a unit unanimity on the part of the institution it was not the necessity for a global solution >>