What laws?
The law of no free checking, high bank fees, legal monopolies,
subsidizing rich bankers and their families, so they don't need to
spend any of their private bonuses, colusion between the federal
government and private banks to fix the price of the dollar?
I can imagine they saved a lot of money not having to lobby for anything because they get it by default.
Go corruption!
My and every other person in America's money is perfectly safe in
the bank, no fees assessed thanks to the FDIC. So what did you as a
Canadian get out of this personally?
You are aware that all of the money the US tax payers put into
Citigroup and other bailouts will be paid back and then some right?
The price per share almost doubled since the US got them in
exchange for the bail out, and they are going to sell them back in
early 2010.
Let's talk about the Export development Canada investment into GM in Ontario.
Let's take a walk down the not so distant memory lane:
May 26, 2009
http://www.edc.ca/english/docs/speeches/2009/mediaroom_16482.htm
"The Government is also using Canada Account to provide $4 billion in
loans to assist GM and Chrysler with their restructuring – again
administered by EDC’s employees."
This was carried out by Mr. Stephen Harper, successor to Mr. Paul Martin and all his heirs in May of 2009 through the crown corporation known as EDC.
This
was a massive buy in on GM in Ontario RIGHT BEFORE it declared
bankruptcy, to pay the salaries and bonuses of the friends of the
ministers. They were running out on payroll.
So where did this money come from, who told them they could use it this way, and where did it go?
A. This money came from the Employment Insurance federal fund paid for by small businesses in Canada.
B. The Queen, her majesty told them they could use it in the EDC charter which gives them the power to use billions in IE and other money from poor and underprivilaged people along with small business owners to give to their friends, and family. Oh yes, and the families of their friends, and their friends too. See Gagliano buys a vinyard with 1/2M from Farm Credit Canada in my post above for a common and under reported example.
http://laws.justice.gc.ca/eng/E-20/page-1.html
"Agent of Her Majesty
18. The Corporation is for all purposes an agent of Her Majesty in right of Canada.
“entity”
means a body corporate, a trust, a partnership, a fund, an
unincorporated association or organization, Her Majesty in right of
Canada or of a province, an agency of Her Majesty in either of such
rights and the government of a foreign country or any political
subdivision thereof and any agency thereof;
Shares not transferable
(3) The shares of the capital stock of the Corporation are not transferable and shall be held in trust for Her Majesty."
http://laws.justice.gc.ca/eng/E-20/page-1.html#anchorbo-ga:s_2-gb:s_10
"Powers
(1.1) Subject to any regulations that may be made
under subsection
, in carrying out its purposes under subsection
(1), the Corporation may
acquire and dispose of any interest in any property by any means;
(b)
enter into any arrangement that has the effect of providing, to any
person, any insurance, reinsurance, indemnity or guarantee;
(c)
enter into any arrangement that has the effect of extending credit to
any person or providing an undertaking to pay money to any person;
(d) take any security interest in any property;
(e) prepare, compile, publish and distribute information and provide consulting services;
(f) procure the incorporation, dissolution or amalgamation of subsidiaries;
(g) acquire and dispose of any interest in any entity by any means;
(h) make any investment and enter into any transaction necessary or desirable for the financial management of the Corporation;
(i) act as agent for any person or authorize any person to act as agent for the Corporation;
(j)
take such steps and do all such things as to it appear necessary or
desirable to protect the interests of the Corporation; and
(k)
generally, do all such other things as are incidental or conducive to
the exercise of its powers, the performance of its functions and the
conduct of its business."
C. Where did it go?
Visit the following link:
http://www.motorsliquidationdocket.com/maincase.php3
And search for "Export Development Canada"
You will find the corresponding documents in the GM New York
Bankruptcy filings which dismiss GM from billions of Canadian tax payer
dollars worth of liability. These documents were filed only 2 months
after the Canadian government gave them 4 billion of your money to pay
for private jets, and the salaries of people who pretty much stepped on
CAW members.
I hate to tell you this, but this didn't happen to America. This
happened to you. As a Canadian person, you don't even know what your
own government is doing. Most Canadians do not even know who their head
of state or representative is. The same is true of Mexico, Italy and a
lot of other countries that work this way.
Oh, and we still have far superior banking here. No matter who
owns the banks now. BTW, my bank is now owned by Chase and the service
has only gotten better.