The results have been fast and furious:
Flathery reported to the Globe and Financial Posts he was "thinking" of make it legal for Governments to lend/borrow on pension funds. His timing couldn't be better for those of you who had any doubts as to the credibility of the charges!
Next, we hear Harper from Switzerland saying he's going to change Canada's Pensions. This, after he has set up a company in Ottawa to run herd on the CPP group. It was patterned after Alberta's AIMCO which Harper considered to be a great idea.
When they interviewed the weasel in charge of this new company he said simply "things are not busy right now" (Links to the stories or video will follow)
Harper arrives back in Canada and the debate on the pension changes was called up. It went as a normal debate was until I posted news about the like AIMCO company he had set up. This went up on day one and on day 2 the Conservatives in Ottawa forced closure on the debate.
My guess is the new legislation will have teeth in it to allow Governments to meddle with pensions. This will be done to give Alberta's outright theft the air of legitimacy.
Over the next months you will see any number of protective moves from Ottawa to save Alberta. And, you will hear any number of excuses from the Alberta Conservatives as they try to salvage something.
While all this is going on remember the AIMCO statements for last year showed an 8 billion dollar loss on their portfolios, the Alberta Government being their biggest if not only customer.
Pension portfolios across Canada gained by 1/2 of 1% (0.50%) while my own personal portfolio gained by 3%
These were shown as outright Losses, not investments!
While on this subject, Mr. Rexall is the Chair of AIMCO. We have a 400 million dollar Arena being proposed in Edmonton. The city of Edmonton has been using P3 company to finance their constructions.
Is the Government lending the City of Edmonton P3 money from the Pension Funds and showing them as losses in the Pension funds while preparing to get payments from the City of Edmonton and putting same into their General Revenues?
How much of Mr. Rexall's money is going into the Arena and is it his money or is it Pension money from AIMCO. People should be asking for full disclosure.