"Daily Show" correspondent Jason Jones interviewed U.S. hedge-fund manager John Tabacco who said Wall Street doesn't need more regulations. If the U.S. does start tightening the screws, well then …
"We'd start looking a h--- of a lot more like Canada!" Tabacco exclaimed in a tone that said Get that maple leaf outta my face!
And in the other corner, Peter Aceto, the CEO of Canada's eighth largest bank, ING Direct Canada.
"The model of regulation we've had in this country has been a huge contributor to the stability of the banking system and the stability of our economy," Aceto said in a calm tone that suggests he is surrounded by large quantities of pine-fresh air and the sweet smell of maple syrup.
OK, so maybe it wasn't exactly Rocky IV but you could practically hear the Fugheddaboudit! all the way to Vancouver!
For those of you keeping score at home, the "Daily Show" offered this statistic from a Wall Street Journal article: The U.S. market has had 16 banking crises since 1790, while Canada has had … zero.
A quick glance at the scoreboard may have you thinking this game is over, but one thing you should have learned from the last financial crisis is … never count a capitalist out!