Thursday, March 12, 2009

Quiz: Is Flaherty like Bernie Madoff, or more like Bernie Ebbers?

Jim Flaherty knowingly defrauded Canadian income trusts investors/taxpayers out of $35 billion of their life savings, with his manufactured claim that income trusts cause tax leakage. This argument was premised on an analysis that was fabricated and false, as it left out a full 38% of the taxes collected by Ottawa from income trusts. This knowingly false and fabricated analysis was performed by Mark Carney, currently Governor of the Bank of Canada.

Flaherty’s fraud shares many of the attributes of the Bernie Madoff scandal, as innocent retail investors were directly affected by a fraudulent scheme., that the press (Wall Street Journal) failed to report on.. It also shares many of the attributes of the World Com fraud perpetrated by Bernie Ebbers, whose fraud was an accounting fraud, in which Bernie Ebbers produced falsified accounting statements......exactly as Jim Flaherty and Mark Carney did with their openly fraudulent tax leakage analysis.

When will justice be done in Canada for the fraud perpetrated by Jim Flaherty and Mark Carney? They need to spend some quality time in jail, alongside the two Bernies......Madoff and Ebbers.


Kephalos said...

CAITI may be overlooking another candidate for the "Jim Flaherty look-alike contest".

What about Conrad?

Connie has gone to the Big House because his "accountant" tried for some tax-free non-compete payments -- basically fast and loose with the Canadian Income Tax Act.

Nobody, but nobooby, has been faster or looser with certain sections of the Income Tax Act than James M. Flaherty.

So what have we got here? Flaherty is like Madoff for A) defrauding innocent investors, like Ebbers for (B) accounting fraud, and like Black for C) income tax fraud.

Wow! Is that an American triple or a Canadian hat-trick?

Anonymous said...

I sincerely hope that people in the U.S. that were robbed by Bernie Madoff get more sympathy from fellow Americans than income trust holders in Canada got from other Canadians when they were robbed by Bernie Harper. Somehow I think they will. People in the U.S. generally admire success, where as in Canada people envy success and think if their neighbors have more than them they stole it, and deserve to lose it.

Madoff's mistake was he should have operated in Canada. He would have died of old age before going to prison here. People here would be saying his investors were greedy and should have diversified, so got what they deserved.


Anonymous said...

Bernie Flaherty. No more Jim for me.


WesternGrit said...

What's the common thread here (and you can add Pocklington and Mulroney)? They're all Canadian Conservatives.

Is it every conservative's destiny, to some day be convicted of fraud and/or embezzlement? I ask this question with all the conservative names linked to "extra-legal" activities in the business world over the past few years (and throughout history, really).

I guess the bottom line is: greed makes you a conservative - when the almighty dollar is more important than everything else. The greed often translates into non-legal excesses among that crowd... much more so than moderates, or middle of the road people...

Anonymous said...

I couldn't agree with you more... The Canadian crooks that you mentioned above should be indicted, prosecuted and sentenced for their crimes against Seniors. They are truly low life scum no better than the American criminals you also mentioned.


Anonymous said...

I just want to know how the guy sleeps at night. He willfully--and gratuitously--destroyed the hard-earned savings of hundreds of thousands of families in North America, forever diminishing their quality of life. He wounded to the core so many innocent investors who believed his party's promises. And he did it all in the most damaging way possible. Worst of all, he did it based on a completely fraudulent premise.

And let's not forget that economist who was Flaherty's hand-maiden in this devastation.

They are utterly lacking in remorse but they also refuse to acknowledge the consequences of their actions. Not only have countless individuals suffered--and continue to suffer--but Flaherty and his cohorts did irreparable damage to Canadian industry and capital markets. And for what? For what??????

Frankly, I think Flaherty and company are less like Ebbers or Madoff and more like economic terrorists.

Bruce Sherman
Oakland, Oregon