Stephen Harper took 75-billion dollars of taxpayer money and gave it to the banks to improve their liquidity. We're told that he used that money to buy good mortgages of equal value.
Does anybody know what we actually bought with that pot of gold?
What mortgages did the banks unload? Were they conventional, well collatoralized mortgages or were they Harper/Flaherty 40-year term/zero equity subprimes, the sort that are probably now well into negative-equity range?
I guess what I'm asking is, did we just fork over $75-billion of taxpayer money to dryclean Harper's and Flaherty's pants? Was that money used to cover up the Harper Tories' reckless adventurism?
Does anybody know what we actually bought with that pot of gold?
What mortgages did the banks unload? Were they conventional, well collatoralized mortgages or were they Harper/Flaherty 40-year term/zero equity subprimes, the sort that are probably now well into negative-equity range?
I guess what I'm asking is, did we just fork over $75-billion of taxpayer money to dryclean Harper's and Flaherty's pants? Was that money used to cover up the Harper Tories' reckless adventurism?
If my hunch is right, we've got a 75-billion dollar scandal on our hands.
