At least from a corporate stand point. the canada banks are in great shape. the Canada telecom earnings are doing abetter job than Verizon and ATT. The canada's oil and gas industry is moving in the right direction where in america we stopped off shore drilling and natural gas. I'll bet its easier to start a small business in canada than in america. Then canada's crappy healthcare system is something america wants to copy. Too funny. I never thought I would see the day where Canada is more pro business and do many things right while america is rotting at the core.
Off shore drilling has not stopped in the USA. The USA is producing more oil than at any time since 2000. Gas is so plentiful that terminals in Norfolk are being change to export rather than import. What is happening to the Canadian dollar again? BCE has been a great stock since the US hedge funds got out of the way.
It is a matter of regulation. Canada's banks are far less volatile then the american banks since they did not get caught up in the subprime mortgage securities fiasco. The regulatory agency for Canada found it too risky and so they did not buy into it.ie: less moral hazard. But the down side is that it is harder to start small companies in Canada because of the same regulatory measures. I do think though that Canadian banks are becoming the new Swiss banks because of their stability.
Not sure how Canadian banks are regulated but the nail in the coffin for US banks was when the Glass/Steagal act was repealed and banks were allowed to become brokerage houses, mortgage companies and speculators.