OUT ON A LIMB: Tales of international finance and regional boards

Ironic that everybody wants Canada to change its banking regulations to conform to the way everybody else manages their systems

Taking a skim through the Campbell River Mirror and the Campbell River Mirror Daily recently, I was struck by a few thoughts…

It makes you wonder if financial planners are really able to learn anything.

Of all the banking systems that weathered the economic downturn…well, okay, there was only one – Canada’s. As the one that weathered it best, it’s hugely ironic that everybody wants Canada to change its banking regulations to conform to the way everybody else manages their systems – you know, the systems that didn’t weather the economic downturn at all. Hello America.

The Canadian government tried to propose to G-8 countries that they impart a little tighter control of their banks. The suggestion fell on deaf ears, so to speak.

Now, this week we learn the EU wants Canada to ease off its banking controls if it hopes to negotiate a free-trade agreement with Europe. Yes, Europe is such a paragon of economic virtue that we should be following their prescription for financial management. Hello Greece, hello Italy.

As journalists, the Area D sewer issue is the gift that just keeps giving. This week we hear that the city can’t have the $3.5 million grant that was promised to Area D for sewer improvements. Well, you can’t blame the city for asking, I guess.

Whenever it comes to debates about taxation, you frequently hear people say there’s only one taxpayer. It’s usually said in reference to different levels of government raising taxes, acting like there’s different sources for those taxes. They ignore the fact that  the source of the money is the same pockets, i.e., yours and mine.

So, saying the city can’t have the $3.5 million is kind of the opposite. Who cares who uses the $3.5 million, it comes from the same pocket, i.e., yours and mine? It’s just another government shell game.

Our municipal reporter Kristen Douglas attended another Strathcona Regional District board meeting yesterday after these words went to press. Read all about it online and in our next issue.

Yes, I know, you’re thinking what did that poor woman do to deserve that? Because is there any government organization with a more poisonous atmosphere than the SRD?

The contentiousness with which that board operates and the sour relationship between its rural directors and the City of Campbell River directors makes me think this is a model that is not working.

Still, as journalists, controversy and strife is our sock in trade. The SRD board and international bankers are keeping our newspaper columns filled.