Thursday, June 19, 2008

OMERs squeals: " Ottawa may face 'crisis' over BCE challenge"


Pension funds are extremely narrow self-interests that oppose my interests and the interests of the 75% of working Canadians without employer pension plan participation.

Here we have another iteration of the “sky is falling” that led to Halloween 2006.......funny (and grossly inequitable) that Flaherty gave pension funds a special “carve out” from his draconian 31.5% tax. They pay 0% tax on income trusts held in their private portfolio. OMERs for example bought undervalued Golf Town Income Trust in 2007 and are not subject to the new tax. Buying undervalued trusts is what OMERs stated will be one of its major themes in 2008

Two questions:

(1) How does that stem alleged tax leakage?
(2) This is a Tax Fairness Plan?

Meanwhile on the topic of BCE, Teachers’ violated the spirit and intent of the federal pension regulations that govern it, by acquiring shares to which are “attached”, directly and indirectly, more than 30% of the votes of BCE.

As to the permsissibility of that maneuvre by FSCO, The CRTC Chairman stated : “I am astounded”.

On the question of bondholder oppression, hopefully the SCC will be as hard to fool as the CRTC Chairman.

See also: The self-dealing sovereign wealth funds known as OMERs, Teachers' and PSP

Ottawa may face 'crisis' over BCE challenge
Might force rules rewrite, OMERS chief cautions
National Post
June 24, 2008

2 comments:

Anonymous said...

Interesting. The government ignores the ticking time bomb that is the coming retirement of millions of baby boomers, in order to shore up their own fat pensions. To do so, they create 2 sets of rules: one for themselves, and one for the rest of us. And then, they ignore the existing rules with respect to the BCE takeover, namely that Teachers can only own 30% of any one company. When faced with a possible court challenge, they can simply change the rules, retroactively of course.

How is this not conflict of interest?

Are we Canadians so determined to live in a happy dream world where no one needs to think about retirement income that we are going to allow this to happen unchallenged?

Rather than screwing people out of income trusts and blue chip stocks like BCE the government should be doing everything in its power to make sure that those of us without big fat pensions can have a modicum of dignity and half decent income once we retire.

Just wait until the real crisis hits. We're going to see Canada Pension plan and OAS benefits drastically cut because there won't be enough money to go around.

Hilário Godinho said...

Hilário Godinho

Peço Asilo Político, Je demande Asile Politique, Ich verlange politisches Asyl, I ask for Political asylum
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Enviar dinheiro para a Anti Pide/D.G.S.E..
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Hilário Vicente Rosa Godinho --- Conta de Épargne UBS CHF --- Nº conta 233-691451.M1F --- Nº de cliente 233-691451 --- Iban CH21 0023 3233 691451M1F --- SWIFT Adresse (BIC): UBSWCHZH80A --- UBS AG --- Postfach, CH 4053 Basel --- Suisse. --- Ou ---
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Telefone: 0041 765 450 994. Comuniquem na Imprensa Mundial. Eu falo Português, E também Francês. -----
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Peço Asilo Político, Je demande Asile Politique, Ich verlange politisches Asyl, I ask for Political asylum
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Dictatures, PIDE/D.G.S.E., Torture, Faim, Corruption. Non Merci.
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Envoyer argent pour l'Anti Pide/D.G.S.E..
Mr. Godinho --- Dornacherstrasse, 245 --- CH 4053 Basel --- Suisse. -----

Si ne peut pas imposer la paix, peut convaincre par l'exemple. -----

Je demande Asile Politique. -----

Donations pour la Résistance Portugaise Militaire et Civil Anti Pide/D.G.S.E..
Hilário Vicente Rosa Godinho --- Compte d'Épargne UBS CHF --- Nº de compte 233-691451.M1F --- Nº de client 233-691451 --- IBAN: CH21 0023 3233 6914 51M1F --- SWIFT Adresse (BIC): UBSWCHZH80A --- UBS AG --- Postfach, CH 4053 Basel --- Suisse. --- Ou ---
Mr. Godinho --- Dornacherstrasse, 245 --- CH 4053 Basel --- Suisse. ---
Téléphone: 0041 765 450 994. Communiquent dans la Presse Mondiale. Je parle Portugais, Et aussi Français. -----
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Peço Asilo Político, Je demande Asile Politique, Ich verlange politisches Asyl, I ask for Political asylum
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Widerstand Portugiesisches Militärisches und Zivilist Anti Pide/D.G.S.E. -----

Freiheit, Demokratie, Justiz, die Presse, Humanitäre Rechte. Ja.
Diktaturen, PIDE/D.G.S.E., Tortur, Hunger, Bestechung. Nein Danke.
Ich verlange politisches Asyl, das Geld, Kranke und Invalide mit dem Hunger vor dem Gericht mit Schulden.
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Herr. Godinho --- Dornacherstrasse, 245 --- CH 4053 Basel --- Schweiz. ---
Telefon: 0041 765 450 994. Teilen in der weltweiten Presse mit. Ich spreche Portugiesisch, Und auch Französisch. -----
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Peço Asilo Político, Je demande Asile Politique, Ich verlange politisches Asyl, I ask for Political asylum
------------------------------------------------------------------------------------------------------
Resistance Portuguese Military and Civil Anti Pide/D.G.S.E. -----

Freedom, Democracy, Justice, The Press, Humane Rights. Yes.
Dictatorships, PIDE/D.G.S.E., Torture, Hunger, Corruption. Not Thank You.
I ask for Political asylum, Money, Sick and Invalid with Hunger in Court with Debts.
To send money for the Anti Pide/D.G.S.E..
Sir. Godinho --- Dornacherstrasse, 245 --- CH 4053 Basel --- Suisse. -----

If it can not impose peace, can convince by example. -----

I ask for Political asylum -----

Donations for the Resistance Portuguese Military and Civil Anti Pide/D.G.S.E..
Hilário Vicente Rosa Godinho --- Account of Épargne UBS CHF --- Nº of account 233-691451.M1F --- Nº of customer 233-691451 --- IBAN: CH21 0023 3233 6914 51M1F --- SWIFT Adresse (BIC): UBSWCHZH80A --- UBS AG --- Postfach, CH 4053 Basel --- Switzerland. --- Or ---
Sir. Godinho --- Dornacherstrasse, 245 --- CH 4053 Basel --- Suisse. ---
Telephone: 0041 765 450 994. Communicate in the World Press. speak Portuguese, And also French. -----

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