Shorter Jim Flaherty

First point:

Canada's banking sector and its regulatory regime (the one they tried to deregulate and destroy when in Opposition ) are to be credited for our relative economic strength in the face of this year's recession (the one we weren't going to have, a year ago).

Second point:

Other countries have seen their economies slide.
Canada's relative position has improved.
The previous Canadian Liberal government is therefore responsible for the demise of European, Japanese and American economic performance.

Then the camera cut out. That was probably the Liberals' fault too.