Source: http://online.wsj.com/article/BT-CO-20130830-710971.html
On August 30, 2013, the Wall Street Journal in an article entitled: "CMHC to Cap Guarantees of Mortgage-Backed Securities to C$15 Bln for Rest of 2013" stated


 " In a notice sent to the country's lenders, CMHC said the limit on guarantees is "an important oversight mechanism" to protect the Canadian government's exposure to the housing market"
Clearly, a nation-wide building scandal would impact mortgage-backed securities and "exposures" for the Canadian - and US - governments - given "the players"!
"Not My Job... Canada Mortgage and Housing Corporation (CMHC)...
But... CMHC Insurance Said To Encourage Poor Lending Practices At Banks...
According to dfrancis@nationalpost.com in a National Post article entitled "CMHC bubble is 100% made in Canada", mortgage insurance provided by CMHCencourages poor lending practices at banks...
Source: http://www.nationalpost.com/opinion/columnists/story.html?id=734ff73e-1f8c-4bfd-b3de-5e468913e8be
Continued...