Comment 27870

By Lisa O (anonymous) | Posted December 10, 2008 at 23:37:11

Don't think that only Americans are the only ones in a tailspin over the recession and heading for payday loans. Our neighbors to the north have been affected from it as well. Obviously, the Asian and European financial systems have taken a tumble also, but we oft forget how closely America and the great nation of Canada are tied. In the wake of the severe dip and near crash of the credit system, banking institutions worldwide are feeling the ill effects. The Canadian government has been in a state of turmoil over how to handle the problems it is facing with the economic climate. The situation was getting ugly; the members of Parliament were determined not to cooperate with the Conservative Prime Minister, and may have been heading for a vote of No Confidence, effectively a removal of the Prime Minister. In response to the way things were unfolding, the Prime Minister asked the Governor General, head of Parliament, to dissolve or suspend the Parliament in order to give him more time to get a working plan in order to deal with the crisis without fear of partisan squabbles – which was then implemented. (This action is called "prorogation" and it does not happen very often at all.) Just remember, even though here in America we have tough times and need to get payday loans, we are not alone. Click here to read more on payday loans.

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