Canadian government LOANS ONE BILLION

[Rick]

Reading comprehension is not one of your strong points.

Supporting Crown Corporations such as the CBC is good in your mind then?

[M.Dancer]

Supporting Crown Corporations such as the CBC is good in your mind then?

Supporting the CBC is a waste. They are not even accountable for their own finances.

[GostHacked]

Rick, see my above post. No tax dollars are being used to finance the loan to Vale.

What money IS being used for this loan then? Where is it coming from?

[Pliny]

Supporting Crown Corporations such as the CBC is good in your mind then?

The point is to differentiate between a money losing crown corporation like the CBC and a self-sustaining

one that returns dividends to the government.

But ultimately - No. I don't think the CBC or EDC should exist as Crown Corporations, even if it is "self-sustaining". Crown corporations that are today self-sustaining have a history of being managed into the ground and wind up being a tax burden. A private corporation managed into the ground disappears - or at least it should, I know some get bailouts and corporate welfare - I don't think they should.

[Pliny]

What money IS being used for this loan then? Where is it coming from?

Supposedly, it is the money they earned from the sale of their products and services. Maybe it borrowed some from a private commercial bank. It is self-sustaining.

It seems if you wanted to know the answer to this you would do the leg work yourself but I think you have already concluded it is taxpayer money.

[Rick]

The point is to differentiate between a money losing crown corporation like the CBC and a self-sustaining

one that returns dividends to the government.

But ultimately - No. I don't think the CBC or EDC should exist as Crown Corporations, even if it is "self-sustaining". Crown corporations that are today self-sustaining have a history of being managed into the ground and wind up being a tax burden. A private corporation managed into the ground disappears - or at least it should, I know some get bailouts and corporate welfare - I don't think they should.

Well said Pliny and I couldn't agree more with you.

That said,regardless if the money is allegedly coming from a 'self-sustaining' plan in this instance, ultimately it is tax payers who are funding its existence.

Hence I cannot nor will I support it in any shape or form for it is essentially corporate welfare.

Edited October 8, 2010 by Rick

[M.Dancer]

What money IS being used for this loan then? Where is it coming from?

From the global credit pool, from investments and from fees.

http://www.edc.ca/english/investor_financial_highlights.htm

[Pliny]

Well said Pliny and I couldn't agree more with you.

That said,regardless if the money is allegedly coming from a 'self-sustaining' plan in this instance, ultimately it is tax payers who are funding its existence.

Hence I cannot nor will I support it in any shape or form for it is essentially corporate welfare.

Taxpayers are not funding it yet, unless you are being very general and mean the taxpayers are "the people" but I expect they will be in short order, which is the reason I wouldn't support even it's inception.

[maple_leafs182]

Money needs to be gold or some commodity. We can't have governments or private companies creating dollars out of nothing. Paper money is and will always be abused.

[M.Dancer]

Money needs to be gold or some commodity. We can't have governments or private companies creating dollars out of nothing. Paper money is and will always be abused.

Tin foil is a commodity.