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    Why we’re in a recession

    April 3, 2010 /

    INTRODUCTION The world finds itself in the midst of the Great Recession that came to full fruition in September 2008 with the collapse of Lehman Brothers. Many have asked this simple question – “how can this have happened?” So why are we in this mess? Before proceeding with my explanation, I modestly offer to the reader my personal economic theorem: “A free market economy is a theoretical construct that only works if, and only if all of the players in the economy are both honest and competent. Both elements must be present for an economy to function properly. As this ideal is impossible to achieve, an economy will habitually require…

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Client Reviews

Fong & Partners Inc. - Consumer Proposal & Licensed Insolvency Trustee
Fong & Partners Inc. - Consumer Proposal & Licensed Insolvency Trustee
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Mike Ross
Mike Ross
17:38 25 Nov 19
My wife and I are contemplating filing for bankruptcy but wanted to know all of our options so we could make an... informed decision. Victor was very insightful and answered all of our questions. You're in good hands with Victor Fong.read more
shokofeh rezai
shokofeh rezai
18:05 20 Nov 19
If your debts are stressing you out and you need a way out Fong and Partners should be your go to. Victor has been... helpful and patient. He will provide you with the best possible solutions to get out of your debts. Highly recommended.read more
Phillip Tanner
Phillip Tanner
17:36 14 Oct 19
Vic really knows his stuff, he was able to clearly explain what I needed to do and what my options were and how to... navigate all the paths. Gave me a lot of peace of mind.read more
Péter Zoltán
Péter Zoltán
08:11 21 Sep 19
In a desperate time he shows professionalism in explaining everything meticulously and if needed once more and once... more and once more... But what I appreciate even more is that years after the discharge he still helps in case of emergency - i just got a collection note of a discharged item, and he answered my help request within 25 minutes!!! You can trust himread more
Humayun N. Khan
Humayun N. Khan
02:51 20 Sep 19
It is very difficult to discuss financials with somebody, especially when a family is in a troubled time. It is during... these vulnerable times that Victor came forward and offered to help in every way he could. He is a service to the whole community and answers all questions honestly, openly, and gives the right guidance. He gave the pros and cons of our situation, and just speaking with him with his prompt replies made us feel at ease and see light at the end of the tunnel. While we're based in Alberta, and Victor in Toronto, he has full knowledge of laws in all of Canada and provided us a referral to someone that can help and that has worked with him. We firmly believe that Victor is not in this business solely to make money; he gets pleasure out of helping people, guiding people, and solving people's problems. A sincere thank you, Victor!read more
Caitlin O'Leary
Caitlin O'Leary
16:52 16 Sep 19
I couldn't be happier. Victor and his team have been very supportive, helpful and flexible throughout my contract. I... am thrilled to now be debt free!read more
Patrick Dingli
Patrick Dingli
02:18 31 May 19
Victor was a huge help in a time of need. If you’re in need of his services. He won’t let you down.
Heather Whittle
Heather Whittle
14:03 16 May 19
I had the pleasure of working with Victor Fong for a number of years. Extremely professional, non-judgmental and... sympathetic. One of the best in the business! I recommend Victor above all others to help you get a fresh financial start! All the best Victor!read more
Kamila Nachtmann
Kamila Nachtmann
22:25 10 Oct 18
Going through financial troubles and bankruptcy is emotionally draining. Victor and Mary are professional,... understanding and very helpful. They make you feel comfortable. So important to know you are in good hands. Very helpful and responsive, even long after the file is closed. Such a heavy weight lifted to be able to start fresh! I can't thank them enough!!! If you need help , do not look anywhere else.read more
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