Saturday, April 24, 2010

ADSCAM! No, wait ...


For an embarrassingly-uneducated pack of screeching wanks who love dredging up the past, Canada's conservatives have some curious blind spots when it comes to history. Here's Slippery Jim Flaherty, waxing creamy over Canada's financial power:

Federal Finance Minister Jim Flaherty rejects any kind of global bank tax proposal.

"I'm not going to impose a tax on our banks that performed well during the financial crisis," he says.

"It seems to me a very odd thing to do — to punish our banks that got the job done adequately," he said, referring to the fact that Canada's banks did not require any public bailout.

Why, yes, Canada's banks are the envy of the world. And why would that be? Oh, look ...

December 23, 2003

Mr. Gerry Salembier
Director, Financial Institutions Division
Financial Sector Policy Branch
Department of Finance
140 O'Connor Street
Ottawa, Ontario

Dear Mr. Salembier,
...
Canadian banks are international success stories. As the most international among them, we recognize that success in international markets is not unrelated to the strength of Canada's financial sector policy. The reputation of Canadian banks as safe, strong and sound financial institutions is an important factor when entering new markets. That reputation is, in large part, due to the strength and foresight of government policy and supervision.

Sorry, what was that last part again?

That reputation is, in large part, due to the strength and foresight of government policy and supervision.

Why, yes ... the foresight of Liberal governments. And the day a single Canadian conservative gives credit where it's properly due is the day I eat my shorts. And I'm fairly confident that's not going to happen.

2 comments:

Cherniak_WTF said...

Jim Flaherty and Steve the corpulent would have loved to go to a more American style of banking system.

It's funny how Paul Martin, as minister of finance is responsible for the good governance over the budget. He also did the responsible thing and called the Gomery Commission - quite a contrast with the Harper children running the show now.

sooey said...

I don't see how letting banks get away with charging outrageous fees and making even more outrageous profits is an example of responsible government, quite frankly.