[UPDATE 6am, 25 Nov 2012: I fell for this hoax completely. Somebody set up a fake OSFI Twitter account and only referenced the bears (with a few gvt organizations as diabolically good cover). I popped up a post pointing this out, triumphantly. What can I say? I’m not going to take down the original post, which appears below. Excellent joke, got me entirely. You wag, whoever you are. (I can now return to worrying that the OSFI is not listening to the canaries).- vreaa (Thanks to Whisperer and LJ for pointing out the hoax).]
“The Office of the Superintendent of Financial Institutions Canada (OSFI) is the primary regulator and supervisor of federally regulated deposit-taking institutions, insurance companies, and federally regulated private pension plans.” – from OSFI website. For a summary of the OSFI’s mandate, see ‘OSFI, Our Mandate’.
The OSFI has set up a Twitter account. Below find a screen capture showing the Twitter accounts that they themselves, the OSFI, follow (as of 25 Nov 2012). Of the 9 accounts they are following, 5 are Government of Canada organizations (BOC, CRA, StasCan, Immigration, CEAP). The other 4 accounts are all bloggers who are bearish the housing market! Two are from identified individuals (Ben Rabidoux and Garth Turner), the other two are anonymous sources (Canadian Watchdog, and Vancouver’s own YVR Housing Analyst). The Twitter accounts of industry analysts and vested interests are screamingly obvious in their absence. We find this remarkably clear vindication of the work done by these bloggers, which is often (and conveniently) dismissed out of hand by industry-related commentators. And we’re pleased that the OSFI is listening to ‘the canaries’.
[Thanks to ‘Canadian Watchdog’ for bringing this to our attention, 25 Nov 2012]