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Bank Soundness Datapoint Of The Day

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by Felix Salmon
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Oct 09 2008 10:54am EDT

Bank Soundness Datapoint of the Day

This has got to sting, in New York and London:

Canada has the world's soundest banking system, closely followed by Sweden, Luxembourg and Australia, a survey by the World Economic Forum has found as financial crisis and bank failures shake world markets.
Britain, which once ranked in the top five, has slipped to 44th place behind El Salvador and Peru...
The United States, where some of Wall Street's biggest financial names have collapsed in recent weeks, rated only 40.

Namibia is in 17th place. When Namibian banks are in better shape than those in the US or the UK, you know the global economy has changed out of all recognition.

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