Canada's online magazine: Politics, entertainment, technology, media, arts, books: backofthebook.ca

Politics, tech, media, culture and more, from a Canadian point-of-view

  • Politics
  • Media
  • Culture
  • Science and Tech
  • Living
  • Arts and Books
  • Features
  • The Video
You are here: Home / Politics / Goldman Sachs McGuinty

Goldman Sachs McGuinty

05/12/2010 by backofthebook.ca Leave a Comment

By Alison@Creekside

goldman-sachs-buildingIsh Theilheimer at Straight Goods wonders why there has been no public outcry about McGuinty’s decision to hire Goldman Sachs to come up with a privatization blueprint for 49% of Hydro One, Ontario Power Generation, the Ontario Lottery and Gaming Corporation, and the Liquor Control Board of Ontario.

The LCBO, OLG, Hydro One and OPG provide more than $10 million a day, totalling $4.1 billion in profit last year to fund social services for Ontario — making Bay Street’s usual privatization argument pretty weak here — but, um, Goldman Sachs?

Ish: “In the USA, for instance, the company has supervised highway privatization deals in which it acted as a financial advisor to the state at the same time as it invested in companies vying for the highways.”

In Goldman Sachs: The Great American Bubble Machine, Matt Taibbi describes the corp as

“a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money. . .”

“the heads of the Canadian national banks are Goldman alums, as is the head of the World Bank, the head of the New York Stock Exchange, the last two heads of the Federal Reserve Bank of New York — which, incidentally, is now in charge of overseeing Goldman . . .”

Following its part in managing the recent financial collapse of Greece, the Vampire Squid is being investigated for fraud by the US Securities and Exchange Commission for misleading its own clients and encouraging them to invest in a product that was destined to fail.

dalton-mcguinty75Canada doesn’t have a national securities regulator. In announcing plans to put one in place on May 3rd, Fin Min Jim Flaherty said that Canada is not directly probing Goldman Sachs because any probe of Goldman would fall under provincial jurisdiction.

Oh, go, McGuinty!

Fun facts: Vampire Squid corporate tax rate in 2008? One percent.
Fin. Times : “Goldman Sachs Group Inc and 22 European banks were the major beneficiaries of US$93-billion in payments from AIG — more than half of the U.S. taxpayer money spent to rescue the massive insurer.”
.

Filed Under: Politics Tagged With: Canadian politics, Dalton McGuinty, finance, Goldman Sachs, Ontario

Subscribe to BoB by e-mail or RSS

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Google+
  • Living
  • Politics
  • Media
  • Culture
  • Arts and Books
  • Features
  • The Video
Fire sale sign

Fort McMurray: Shopping time!

By Brady Tighe We’re now officially in the aftermath phase of the northern Alberta wildfire crisis. The fire is long gone, and everyone with a home to return to is back in its … [Read More...]

Nathan Cullen

Electoral reform: Hashtag fresh thinking

By Alison@Creekside The most interesting and innovative idea to come out of the first meeting of the all-party Special Committee on Electoral Reform, or ERRE, was Nathan Cullen's suggestion, … [Read More...]

Trudeau on quantum computing

The Trudeau gush fest is getting old

By Jim Henshaw There have been several bewildered as well as angry accounts coming out of the USA lately about how little media time has been spent covering the Democratic Presidential Primary … [Read More...]

Rick Meyers in Nanaimo Pride Parade

My friend, Rick, at the Pride Parade

By Frank Moher On this dreadful day, I don't want to write about the shootings in Orlando. I want to write about my friend, Rick. Rick lives just outside of Nanaimo, a city of about 80,000, … [Read More...]

Stephen Colbert on Late Night set

Triumph of the drama nerds

By Frank Moher Two drama nerds have recently moved into high profile positions. Before I name them (or perhaps you’ve already guessed who they are; or perhaps you’d like to scroll down and look at … [Read More...]

From “Our Rape Blog”: Shooting the Moon

Originally published on Our Rape Blog, the author's account of the aftermath of a violent sexual assault. By Mary Fraughton Have you ever played Hearts? It’s a card game. For our purposes, … [Read More...]

First Nations defending Lelu Island

The video: Lelu Island: “They will come.”

From Creekside: The B.C. provincial government is trying to green light the construction of a massive LNG terminal on Lelu Island in the Skeena Estuary -- Pacific Northwest LNG, backed by Malaysian … [Read More...]

Google

Follow Us!

  • Email
  • Facebook
  • RSS
  • Twitter

RSS CBC News



Recent Posts

  • Fort McMurray: Shopping time!
  • From “Our Rape Blog”: Shooting the Moon
  • Electoral reform: Hashtag fresh thinking
  • The fish hotel
  • Hatred on an Alberta golf course
  • The video: Lelu Island: “They will come.”
  • My friend, Rick, at the Pride Parade
  • Our selective sympathy
  • The Water Bomber, The Frogman and The Great Canadian Novelist
  • Komagata Maru: The story behind the apology

Tags

9/11 Afghanistan Alberta bad behaviour books British Columbia business Canada Canadian military Canadian politics CBC celebrity computers Conservatives crime environment family film G20 Globe and Mail internet Jason Kenney journalism Justin Trudeau law Liberals Maclean's music National Post NDP newspapers oil sands online media Ontario Quebec RCMP religion sports Stephen Harper television theatre Toronto U.S. Vancouver women

Archives

The Video: Lelu Island: “They will come.”

Pages

  • About
  • Privacy

Copyright © 2023 · News Pro Theme on Genesis Framework · WordPress · Log in