principles vs. rules

We have a pretty good regulatory environment here. It’s a big regulatory environment in the US too, but it’s a lot more driven here on principle, where it’s a lot more rule-based in the US. And we’re culturally a lot more conservative.

 – Arkadi Kuhlmann answering a question about the differences between Canada and US in the problems that created the current economic problems.

Quoted from The Hour with George Stroumboulopoulos Video Podcast December 17 2008

This description from The Hour: Banking juggernaut Arkadi Kuhlmann runs ING, rides Harleys and reads palms.

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