Tuesday, January 13, 2009

Fight! Fight!

From the Globe & Mail:

Finance Minister Jim Flaherty is pushing ahead with the creation of a long-debated national securities regulator, igniting a battle with Quebec and Alberta just as Ottawa is seeking the provinces' help in reviving Canada's flagging economy.

Incensed at the very suggestion, Quebec and Alberta responded to the report by threatening a Supreme Court challenge of Mr. Flaherty's authority to establish a national commission.

Unmoved, the Finance Minister vowed to establish a national regulator with willing provinces, something Mr. Hockin said could be done without Alberta and Quebec.

So more conflict to arise with our present, charming govt. at a time when we are in dire economic circumstances. Whether a securities regulator is a good idea or not I need to research more. Although I don't see it as being particularly negative. Too much free rein & not knowing what's being done is not good. But even so, if the regulator reports only to the govt., behind closed doors, then the govt./finance dept. can do whatever it likes & we will continue to be left in the dark.

No comments: