Bernanke Warns on Fiscal Cliff Impact

Federal Reserve Chairman Ben S. Bernanke said the prospect of more than $600 billion in spending cuts and tax increases “clearly” is having an effect on economy “even though we’ve not yet even reached the point of the fiscal cliff kicking in."

CIBC's Tal: We Need to Monitor Subprime Loans in Canada
46:33 - According to the latest report from CMHC, condo building activity in Toronto appears to be "well managed," unlike the 1980s housing bubble. Yet, BOC Governor Stephen Poloz recently addressed the pace of rising home prices in Canada's two hottest markets - Toronto and Vancouver. Benjamin Tal, deputy chief economist at CIBC World Markets, joins Bloomberg TV Canada's Amanda Lang to discuss the current state of the Canadian housing market, where it's headed and what measures need to be taken to "cool" foreign buyers. (Source: Bloomberg)
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