After more than a decade of extreme government and central bank interventions in financial markets and institutions all over the world, policies and actions are increasingly coming under a much needed scrutiny. This is a key step toward reigning in what has been a runaway finance sector and remind policy makers that their fiduciary duty as elected and appointed officials, is not owed to profit-maximizing banks, but to the taxpayers and citizens of the country.
The pendulum seems to be finally swinging back toward fiscal restraint, aversion to debt, and democratic accountability. Recent attention on the negotiations in Greece are one example. This interesting case in Canada, is another. See: The Canadian court case the mainstream media won’t cover.
In this recent case, Canadians sued the Bank of Canada and won. Here is a direct video link.
For more background on Canadian constitutional lawyer, Rocco Galati, who argued the case, see The Globe’s recent interview with him here: The lawyer who challenged the Harper Government and won.