Canada did suffer during the 2007-8 crisis, though its banking system didn't collapse as the US system did.
The reasons suggested are various. I'm not an expert on either the US or Canadian experiences, though some quick searches suggest a few explanations, including an overall different regulatory and banking environment in Canada (far more centralised to the Federal government rather than distributed to numerous states). NBER and a few other sources look promising.
Canada did suffer during the 2007-8 crisis, though its banking system didn't collapse as the US system did.
The reasons suggested are various. I'm not an expert on either the US or Canadian experiences, though some quick searches suggest a few explanations, including an overall different regulatory and banking environment in Canada (far more centralised to the Federal government rather than distributed to numerous states). NBER and a few other sources look promising.