Monday, October 16, 2006

CMHC to be Privatized

Which priority was this?

The Harpocrties will sell anything not nailed down regardless of it's financial success...it's called devolution of federal power.

Ottawa eyes privatization of CMHC

Private companies — mainly U.S.-based multinationals — are ready to rush in to the lucrative mortgage-insurance market that CMHC dominates. And the federal government has signalled it wants out of the housing business altogether, arguing that it's a provincial responsibility. “Trial balloons are being floated around” and can be traced back to Finance Minister Jim Flaherty's office, one Bay Street source said. “This has been in the wind for a couple of months now,” said another private sector source.

The success of such endeavours can be seen in the Liberals selling off the student loan progam to the banks. Hows your debt doing?!

And it's a sure fire way of creating a Housing Bubble like they are experiencing south of the border.

And of course privatization of the CMHC will benefit the Tories pals in business but do nothing for ordinary Canadians.


A tip o' the blog to Politique Vert

See:

Privatization

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2 comments:

Devon Rowcliffe said...

It's clear that the Harper Tories are simply throw-back Thatcherites.

The current UK Conservatives cringe at the idea of mass privatization - they're paying the price now, and advocating lots of re-nationalization.

I guess our political flavour-of-the-month is two decades past its sell-by date.

eugene plawiuk said...

Yes Duncan Campbell is remaking himself as the new Blair. I suspect that Gordon Brown will not keep New Labour's title and power but that it will shift to Duncan. I will blog more on this later.

Interesting that in the House yesterday the Minister who answered questions about this was the Minister of Social Development, not the Finance Minister.

And she laughed this off, no such plan she said....which considering the source is less than reassuring....