Thursday, November 10, 2011

Stockwell Day signs up for reverse mortgage scam

Stockwell Day has signed on as a Director of HOMEQ Corporation, who are engaged in the field of reverse mortgages, where seniors strapped for cash resort to selling their homes for 40 cents (or less) on the dollar. I consider that a scam and an act of financial desperation/exploitation.

Thanks to people like Stockwell Day, Canadian seniors are more strapped for cash now than ever what with the protracted low interest rates providing them with less income from their limited retirement savings.

As a prominent member of Stephen Harper's cabinet, Stockwell Day participated in the destruction of income trusts, which had emerged as the Canadian capital market's solution to the problem of Canadians providing for themselves with sufficient income during retirement, rather than resort to means like reverse mortgages. That preferred solution was summarily taken off the table when the Harper Conservatives made the fraudulent argument that income trusts cause tax leakage, denying Canadians that choice and casuing great financial hardship.

Meanwhile here is what the duplicitous Stcokwell Day wrote while in opposition on the matter of income trusts:

November 8, 2005.

Dear Mr. Laxton

Thank you for expressing your concerns about the confusion the Minister of Finance has caused on income trusts.

Income trusts have helped numerous Canadian companies grow and flourish and enabled ordinary Canadians to generate more income for their retirement years. The federal Liberal government's reckless decision last September to cancel advance tax rulings on income trusts caused Canadian businesses to lose billions of dollars in market capitalization and Canadians to lose thousands of dollars of personal savings.

Canadians investing in good faith to save for their retirement deserve certainty, not a government review of how the Liberals can grab more taxes from them.

We know that Canadians draw regularly form their investments to supplement their retirement savings. When the value of their investments drops as a result of government indecisiveness, so does their retirement income. It is time the government stopped penalizing our citizens.

My colleagues and I in the Conservative Party are committed to maintaining income trusts as a valuable savings and investment tool for Canadians.

Thank you again for contacting me,

Yours sincerely,

[signed Stockwell Day]

Stockwell Day, M.P.
Official Opposition Foreign Affairs Critic


Anonymous said...

No doubt;Liberals are experts on scams.

Brent Fullard said...

I can't speak for Liberals, since I am not one.

Meanwhile, most scams involve people who attempt to hide behind anonymity.

Please tell us about that, since you are one such person?

Anonymous said...

You're a Liberal blogger!

Anonymous said...

You can't speak for Liberals but you certainly pass judgement on others.

Dr Mike said...

Man o man , it`s easy to slag someone when you don`t use your real name.

I consider anonymous posters to be cowards much like a terrorist attacking from the dark.

It`s truly sad when guys like "anonymous" don`t have the cojones to put themselves out there.

They obviously don`t believe a word of what they say or they would say it with a name.

Dr Mike Popovich near London Ont

Dr Mike said...

Forgot to mention , Stock is just one more "tool" in the Harper "tool" box.

Dr Mike

Brent Fullard said...

Re: "You're a Liberal blogger!"

Putting other people in "boxes" is some people's idea of intelligent discourse.

Re: "You can't speak for Liberals but you certainly pass judgement on others."

I am glad that comment makes sense to you, as I find it nonsensical and incoherent.

Bruce Benson said...

Since Stockwell Day left Harper's inner circle, I guess Harper is one tool short of a full tool box. Hahaha!

Anonymous said...

Stating that you are a Liberal blogger isn't putting you in a box (lmfao), it is a statement of fact.

Anonymous said...

I see Anonymous - that courageous poster seen all over the web – agrees that Stockwell should be out there to screw seniors once again. Way to go Anonymous!


Brent Fullard said...

Fact: This blog is aggregated on Liblogs.

Fact: That doesn't make me a "Liberal Blogger".

Fact: I am an independent.

Anonymous said...

More double speak and twisting from Brent. The same type of crap he tried with income trusts. Fortunately, NO ONE with any authority on the matter listen to him. ROFLMFAO!

Anonymous said...

Double speak. Conservatives are experts at it. Just look at Stockwell Day's letter. Oh yeah I forgot. Facts are just something that gets in the way of some good Con double speak.


Anonymous said...

Holy cow Brent. How could you twist these words? I know you must be some Liberal hack right? I mean Stockwell did say this but somehow you twisted these words. Ummm... errr ... I just know it because Anonymous said so.

"My colleagues and I in the Conservative Party are committed to maintaining income trusts as a valuable savings and investment tool for Canadians."


Anonymous said...

Reverse mortgages !!
We Cash Strap our seniors with a bogus fraud decision to kill income trusts and kill senior pensions.
Then further strap them with mortgage debt of another kind.

but the kicker is a nice Padded job for our Stockwell

The fairytale party


Anonymous said...

A lot of free speech haters out there in the comments...

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