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First Name Brent
Last Name Fullard
Phone No ( 647 ) 505-2224
Sent message: Letter to the CEOs of Canada's six banks
February 6, 2010
Mr. Gordon Nixon, RBC
Mr. William Downe, BMO
Mr. Richard Waugh, BNS
Mr. Gerald McCaughey, CIBC
Mr. Ed Clark, TD
Mr. Louis Vachon, National Bank
I was prompted to write to you as a result of today’s headline article “Big Six Banks urge Ottawa to tighten mortgage rules” in which the statement is made that you are willing to forego short term profits to avoid any chance of a US style collapse.
I am pleased to see that you are taking a more socially responsible approach to the businesses you have been entrusted to run and that you have come to realize that there are consequences to your actions, that are often adverse for people in society beyond your boardroom walls and beyond simply your shareholder base and meeting the next quarter’s earnings forecast.
One such matter in need of immediate attention on your part is the matter of Mr Flaherty’s income trust fiasco and the existence of a solution called the Marshall Plan solution that I call upon you to support for inclusion in Budget 2010 in order that Canada can restore faith in the integrity of its capital markets, in the integrity of the Canadian system of democratic government and in institutions like your own, who in the words of Seymour Schulich interviewed on BNN said:
Amanda Lang: “How do you account for Bay Street’s compliance on the income trust tax”?
Seymour Schulich: “No disrespect to present company, and no disrespect to Bay Street, who made billions of dollars selling these things, and put them in all their client accounts and abandoned everybody, no disrespect to those people, there’s 2.5 million people who own these things and let me tell you my view.....
Sunday, February 7, 2010
Posted by Fillibluster at 12:00 PM