From Wall Street to Bay Street: The Origin and Evolution of the United States and Canadian Finance

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The financial crisis in 2008 spread to the world and triggered a global economic recession. Unlike the U.S. banking system, which suffered huge losses, acquisitions and taxpayer-funded rescue measures, Canada's banking system has relatively well resisted the crisis and maintained its liquidity and profitability. The differences between the two banking systems can be traced back to their unique institutional and political history.

From Wall Street to Bay Street is the first book to deal with similarities and differences between Canadian financial systems for lay readers and the United States. Christopher Kobrak and Joe Martin reveal that each system has taken different paths since the early 19th century, although they all come from the British system. The author traces the roots of each country's financial system back to Alexander Hamilton and deeply believes that although Canada has retained the financial tradition of Hamiltonism, the United States has supported the populist Jacksonian tradition since the 1830s. The sporadic and inconsistent manner in which the American system changes over time is inconsistent with the evolutionary path adopted by the Canadian system. From Wall Street to Bay Street providing a timely and easy comparison of financial systems reflecting the political and cultural environment of two countries in the world's ten largest economies

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