Harper Rejects Debt Bailout, Putting Pressure on Canada Banks

``If the government became the day-to-day underwriter of market risk in commercial securities markets, that's a bottomless pit,'' Harper said in an interview in Ottawa. A government rescue wouldn't be ``healthy for the long-term growth of the Canadian economy.''

Bravo to Harper. No Super-SIVs or TAF-y pulls for our northern neighbors! Canada's banking system will be long-term stronger for it.

The real question is: is this just jawboning on Harper's part, with a cronyist government-backed bailout waiting in the wings, or does he really mean it?