Wednesday, 20 May 2009

Robin Hood, Julie the Realtor and Brian Mulroney: Notes on Ethics and Economics

Every once in a while, a comment comes in that deserves more than a simple acknowledgement in the comment box. One arrived last week in answer to my criticism of the way the Harper government is dragging its feet in getting stimulus money out the door.

A "Realtor in Toronto" wrote:

"I would say throwing money at everything that says a quiet "help" is not a way to go either, see our southern neighbors. Printing money will have consequences later on. So lets just wait a little more, maybe we won't be the first one to get out of this, but once we do, we won't have to face problems like inflation, flooding of the market with cheap businesses, etc.

Take care, Julie"

Julie's voice comes from the corner which also tried to get Canadian banks to expand a few years ago, and to remove them from the regulatory limits which have proved to be just what kept Canada doing as well has it has. Julie, I wager, also made a bundle flipping properties when the times were good. Julie's friends in the US made even more money by collaborating with mortgage brokers who sold people without the means far too many subprime mortgages.

Keynes was right, regulation is important, government--good government--is essential. The sorry sight of Brian Mulroney going all around Robin Hood's barn as he tries to explain just why he took wads of cash and what he did with it unfortunately does absolutely nothing to encourage decent people's trust in the only agency that is upposed to look out for all of us--government. Where is Robin Hood when we need him, BTW?

1 comment:

Martin Langeland said...

Working as a lobbyist for a major bank?
We should have guessed what was up when he started taking Marion to upscale latte boutiques.