Friday, December 12, 2008

Flaherty asks for time to consult on stimulus....why? avoid another panic attack on Canadians?

Flaherty asks for time to consult on stimulus? Flaherty never consulted with Canadians for a nanosecond on his income trust tax, except with those narrow self interests who had something to gain from income trusts’ demise, people like Gwyn Morgan, Dominic D’Alessandro, Paul Desmarais Jr and Michael Sabia, as reported in the Globe on November 2, 2006:

“High-profile directors and CEOs, meanwhile, had approached Mr. Flaherty personally to express their concerns: Many felt they were being pressed into trusts because of their duty to maximize shareholder value, despite their misgivings about the structure. Paul Desmarais Jr., the well-connected chairman of Power Corp. of Canada, even railed against trusts in a conversation with Prime Minister Stephen Harper during a trip to Mexico, and told him he should act quickly to stop the raft of conversions, according to sources.
Amid this escalating tension, Mr. Sabia's phone call became a flashpoint, prompting the federal government to accelerate its crackdown on the sector”

Flaherty asks for time to consult on stimulus

Globe and Mail
December 12, 2008 at 8:52 PM EST

OTTAWA — Finance Minister Jim Flaherty is asking for a little breathing room to come up with an economic stimulus package. Canada's economy retains enough life to allow for some “thoughtful consideration” of how to proceed, said Mr. Flaherty, rejecting critics who say he is taking too long to develop an economic stimulus plan. As governments in Europe and Japan pledged upwards of $370-billion (U.S.) to fight a global recession, Mr. Flaherty told a business audience in Saint John Friday that “panicking” risked making the weakest economic growth in almost two decades even worse. “We are living in extraordinary times,” Mr. Flaherty said. “We also know that panicking and making the wrong choices would be devastating for the Canadian economy and that responding to this type of global economic turbulence requires steadiness and stability and consultation.”

Well Jim that's exactly what you did back on October 31, 2006 with you destructive income trust tax....YOU PANICKED and made the wrong choice that was devastating for the Canadian economy unleashing a rash of takeovers of devalued trusts and causing Canadians to lose $35 billion of their life savings and an essential means to provide income during retirement.


Dman said...

Cut the b-s excuses PotHole Jim FlimFlamerty … you have a Finance Department staff of 800 … they can’t all be ecomomists like Harpy … I’m sure once they’re untied & un-gagged, they can / will make a formidable contribution to getting the job done.

Dr Mike said...

Hey Jim , consultations only work if those consulted are from a full cross-section of the population , & not just those with their own personal agendas.

Hey Jim , when you do consultations , take everything into account , not just what is said from a bunch of axe-grinders who are seeking monetary gain.

Hey JIm , do not forget about ordinary Canadians who are the back-bone of this country & who have the most to lose if your policy turns out to be a lemon.

Hey Jim , call me sometime , I would be glad to help you out.

The door that is!!!!!!!!

Dr Mike Popovich.

Anonymous said...

How much more time does he need? CON stance on the economy (Canada is fine) during the election was ludicrous. All the indicators of a good financial mess have been around for the last 2 years - especially in Ontario. His own riding (auto)is an excellent example.

With Flaherty's track record - especially the mess with income trusts, mortgage thing, etc. - maybe it is best if he does nothing? Ideally he will follow Dman's suggestion to untie and ungag those on his staff that are actually capable of taking regular Canadians into consideration ...
Or even better, he will have the decency to recognize that he is in over his head and resign!
Either way, I think we can all agree this clown should leave sooner than later and deserves to have his ass hit really hard by the door on his way out.