Friday, April 20, 2007

The Cone of Silence Bank Presidents and the RCMP

Funny but Bank Presidents sound just like the RCMP Superintendent and Commissioners when it comes to telling the truth to Parliamentary Committees.

Deputy Commissioner George, who was suspended from duty after a previous appearance before the committee, was rebuked by MPs, who said her testimony has been evasive and incomplete.

Staff Sgt. Frizzell said the pension investigation took an unexpected turn when documents were uncovered suggesting insurance funds were being diverted with Deputy Commissioner George's approval.

But he was ordered off the case before he had a chance to follow the trail, he said.

She said she had nothing to do with the winding down of the pension-fund investigation, or the issuing of a "cease and desist order" to Staff Sgt. Frizzell directing him to return to other duties.

She did not rule out the possibility that she might have seen documents related to transferring insurance funds to the pension fund.

She did not recall this, but she said she relied on advice from another senior Mountie with expertise in insurance and financial matters that there was nothing untoward with the life-insurance funds.

Back off on ABM legislation, banks warn MPs

Whenever members of the Commons committee probing ATM fees tried to peer inside the world of banking, they were met for the most part with blank expressions or no comments."We won't comment on that," said the Royal Bank's Jim Westlake, group Head, Canadian Banking, when asked about profit margins on the ATM fees.

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