Tuesday, August 12, 2008

Flaherty calls for greater financial literacy.


In that case, he badly needs a lesson in the ABCs of BCE

Talk about the pot calling the kettle black. Today we learn from the article entitled ”Financial literacy needed in complicated economic climate” that "Canada's minister of finance told a meeting of financial managers recently that whether it's a sophisticated investment or a simple savings account, today's financial world cries out for improved financial literacy."

In that case Jim Flaherty needs a remedial lesson in the ABC’s of BCE.

In his reckless attempt to stem phantom tax leakage, he CAUSED tax leakage. $800 million a year in the case of BCE alone. Another $1.2 billion from the other 44 trust tax related takeovers.

Can we really afford to have a sub-prime Finance Minister who CAUSE what he sets out to SOLVE? That is the definition of negligence and incompetence.

We share in that outcome if we don't speak out against it. No more so than in the case of the media whose job it is to ferret out incompetence and waste. Not much ferreting required here, as the under reported story has pretty much written itself. Just looking for a paper with the public’s interests at heart to print it.

1 comment:

Robert Gibbs said...

"Flaherty" and "Financial Literacy" in the same sentence?

Now that's hilarious!

Thanks for the greatest laugh of the day Brent.