In the setting of extensive debate and discussion among the G20, CEOs and business leaders on the COMPAS business panel were asked whom to blame for the Recession and what to do. As for blame, U.S. bankers earn much blame for reckless investments while Congress gets much blame for forcing financial institutions into making high risk mortgage loans. Fewer panelists are willing to lay fault at the feet of the U.S. Federal Reserve for allowing the emergence of a bubble as a result of persistently low interest rates.

As for remedies, panelists praise Washington for cutting business taxes and believe strongly that China should allow the Yuan to float to its true value. Opinion is less one-sided about

• the U.K. proposal for bank transaction fees (possibly a moderately good idea on average with polarized reactions), and
• about interest rates (probably not too low in Canada and the U.S.).

These are the key findings from this past week’s Internet survey of CEOs and business leaders on the COMPAS panel. The weekly business survey is undertaken for Canadian Business magazine under sponsorship of BDO Dunwoody LLP.

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