As Mark Carney takes up PM advisor job, his company solicits Ottawa for $10 billion — Due to an unusual hiring arrangement, Carney is shielded from the usual ethics disclosures
As Mark Carney takes up PM advisor job, his company solicits Ottawa for $10 billion — Due to an unusual hiring arrangement, Carney is shielded from the usual ethics disclosures
*This week, it was reported that Brookfield Asset Management — of which Carney is the sitting chair — is pitching Ottawa on a $50 billion asset fund that would be seeded by as much as $10 billion in federal dollars.*
*This means that Carney is taking on a new job at the right hand of the prime minister at the precise moment that he oversees a company seeking to secure one of the largest contributions of federal cash in the country’s history.*
*[…] Details of the fund were first disclosed in a Tuesday exposé by The Logic, and then confirmed by both Financial Post and The Globe and Mail.*
*Sources close to the talks told Financial Post that Brookfield has been shopping around the idea of managing a $50 billion pooled pension fund that would be directed towards Canadian assets.*
*As per The Logic, $36 billion of that would come from existing pension funds, with another $10 billion contributed by the federal government.*
*[…] On Sept. 9, Carney was appointed as a senior economic advisor to the prime minister, and put in charge of a task force on economic growth. However, Carney will be employed by the Liberal Party of Canada rather than a public body like the Prime Minister’s Office.*
*This will have the effect of insulating Carney from the usual ethical disclosures and conflict-of-interest rules that would follow a senior government staffer on the public payroll.*
northern-fool on
This should NOT be allowed to happen
Erectusnow on
Now we see what he was paid off with to save Trudeau. Trudeau is a danger to our country at this point. He will choose his ego over country every time.
mayuan11 on
At least now we know what Trudeau’s exit strategy is. He’s moving over to Brookfield, I did not see that happening…
Immediate_Pension_61 on
If you guys listen to Bruce Flatt, CEO of Brookfield, he has been saying that pensions and sovereign funds are ripe to tap into. All these asset managers will be using pension funds for investments.
I honestly don’t have problem if pensions are being invested in housing and transit but if something hits the fan, nothing will happen to these managers. People will be left with nothing.
Honestly every pension should just invest in SP500 and call it a day.
marksteele6 on
If we disregard the idea that there’s an ethics issue at play, is the investment itself a bad one? 10 billion is a sizable investment, but the returns should be equally sizable and the government will get their share of that. It’s also a good faith gesture by the government to get them to invest in Canada rather than abroad..
To put it another way, if Mark Carney was not taking up the role of advisor to the PM, would anyone have an issue with this as a government investment?
physicaldiscs on
Setting us up for one last big grift before the LPC gets booted out.
Everyone thought Carney was going to join the LPC to be PM. It looks like it’s just to secure a fat bonus from BAM.
BilboBaggSkin on
What a time to be alive
Serenityxxxxxx on
And the corruption continues…
Ok_Cauliflower6524 on
Hahahaha man Canada is a joke. Work for the government and instantly ask for 50b for a new fund of his company. We are cooked
IntelligentPoet7654 on
Canada is becoming a corrupt circus show run by deranged carnies.
Hot-Percentage4836 on
Outreageous.
No one shall be « *shielded from the usual ethics disclosures required of prime ministerial advisors* ». This in unacceptable.
The way it plays out just screams suspicion, and things likely won’t be investigated before billions of our taxpayers money pour into this.
ObjectiveLump on
🤣🤣 you know what’s funny… he’ll probably get the 10 billion and then fleece the taxpayer for ad much ad he can, one thing is painfully obvious is politicians use their positions to enrich themselves at all costs… there is absolutely zero morality in politics, as a matter of fact it’s seems to be who can lie and get away the best with it. And since they are all tied to one another there will never be any semblance of justice for this type of thing… its why so many people think Canada is a joke now ,and rightfully so I believe
losemgmt on
I don’t understand – so taxpayer dollars will go to Brooksfield so they can purchase assets in Canada?
So they’re giving our money to a corporation and the end result will be citizens spending more money to purchase inflated assets?
JRWorkster on
Liberals and corruption, is there a more iconic duo?
budgieinthevacuum on
And people think public servants just doing the job are fleecing taxpayers. It’s these grifters that really are.
tonkatsu2008 on
Trudeau knows his government is on borrowed time, so it’s not surprising he is squeezing every last opportunity to grift from the government coffers.
Different_Willow_139 on
LOL
Bentstrings84 on
Liberal supporters, this is totally above board and you’d be okay with the CPC doing the same right?
-Shanannigan- on
So now that’s settled for everyone who believed that Carney would be an improvement for Liberal party as leader, he’s just as corrupt and dirty.
Steel5917 on
Given what we are learning from whistleblowers in committee about the STDC, he’ll likely get the money. Liberals are taking corruption to whole new heights under JT.
marksteele6 on
This comment thread has been great for building out my blocklist. The fact that people here honestly seem to think a deal of this magnitude wasn’t planned out years in advance is concerning. The saddest part is some of you actually vote too…
MilkIlluminati on
> Carney is shielded from the usual ethics disclosures
not that they matter, it’s just a pinkie promise anyway
gweeps on
This guy sucks. He advocates for a benign economic dictatorship.
25 Comments
I mean, that’s probably what it cost Trudeau to get him to take the job.
Excerpts from [article](https://nationalpost.com/opinion/first-reading-as-mark-carney-takes-up-pm-advisor-job-his-company-solicits-ottawa-for-10-billion) by Tristin Hopper:
*This week, it was reported that Brookfield Asset Management — of which Carney is the sitting chair — is pitching Ottawa on a $50 billion asset fund that would be seeded by as much as $10 billion in federal dollars.*
*This means that Carney is taking on a new job at the right hand of the prime minister at the precise moment that he oversees a company seeking to secure one of the largest contributions of federal cash in the country’s history.*
*[…] Details of the fund were first disclosed in a Tuesday exposé by The Logic, and then confirmed by both Financial Post and The Globe and Mail.*
*Sources close to the talks told Financial Post that Brookfield has been shopping around the idea of managing a $50 billion pooled pension fund that would be directed towards Canadian assets.*
*As per The Logic, $36 billion of that would come from existing pension funds, with another $10 billion contributed by the federal government.*
*[…] On Sept. 9, Carney was appointed as a senior economic advisor to the prime minister, and put in charge of a task force on economic growth. However, Carney will be employed by the Liberal Party of Canada rather than a public body like the Prime Minister’s Office.*
*This will have the effect of insulating Carney from the usual ethical disclosures and conflict-of-interest rules that would follow a senior government staffer on the public payroll.*
This should NOT be allowed to happen
Now we see what he was paid off with to save Trudeau. Trudeau is a danger to our country at this point. He will choose his ego over country every time.
At least now we know what Trudeau’s exit strategy is. He’s moving over to Brookfield, I did not see that happening…
If you guys listen to Bruce Flatt, CEO of Brookfield, he has been saying that pensions and sovereign funds are ripe to tap into. All these asset managers will be using pension funds for investments.
I honestly don’t have problem if pensions are being invested in housing and transit but if something hits the fan, nothing will happen to these managers. People will be left with nothing.
Honestly every pension should just invest in SP500 and call it a day.
If we disregard the idea that there’s an ethics issue at play, is the investment itself a bad one? 10 billion is a sizable investment, but the returns should be equally sizable and the government will get their share of that. It’s also a good faith gesture by the government to get them to invest in Canada rather than abroad..
To put it another way, if Mark Carney was not taking up the role of advisor to the PM, would anyone have an issue with this as a government investment?
Setting us up for one last big grift before the LPC gets booted out.
Everyone thought Carney was going to join the LPC to be PM. It looks like it’s just to secure a fat bonus from BAM.
What a time to be alive
And the corruption continues…
Hahahaha man Canada is a joke. Work for the government and instantly ask for 50b for a new fund of his company. We are cooked
Canada is becoming a corrupt circus show run by deranged carnies.
Outreageous.
No one shall be « *shielded from the usual ethics disclosures required of prime ministerial advisors* ». This in unacceptable.
The way it plays out just screams suspicion, and things likely won’t be investigated before billions of our taxpayers money pour into this.
🤣🤣 you know what’s funny… he’ll probably get the 10 billion and then fleece the taxpayer for ad much ad he can, one thing is painfully obvious is politicians use their positions to enrich themselves at all costs… there is absolutely zero morality in politics, as a matter of fact it’s seems to be who can lie and get away the best with it. And since they are all tied to one another there will never be any semblance of justice for this type of thing… its why so many people think Canada is a joke now ,and rightfully so I believe
I don’t understand – so taxpayer dollars will go to Brooksfield so they can purchase assets in Canada?
So they’re giving our money to a corporation and the end result will be citizens spending more money to purchase inflated assets?
Liberals and corruption, is there a more iconic duo?
And people think public servants just doing the job are fleecing taxpayers. It’s these grifters that really are.
Trudeau knows his government is on borrowed time, so it’s not surprising he is squeezing every last opportunity to grift from the government coffers.
LOL
Liberal supporters, this is totally above board and you’d be okay with the CPC doing the same right?
So now that’s settled for everyone who believed that Carney would be an improvement for Liberal party as leader, he’s just as corrupt and dirty.
Given what we are learning from whistleblowers in committee about the STDC, he’ll likely get the money. Liberals are taking corruption to whole new heights under JT.
This comment thread has been great for building out my blocklist. The fact that people here honestly seem to think a deal of this magnitude wasn’t planned out years in advance is concerning. The saddest part is some of you actually vote too…
> Carney is shielded from the usual ethics disclosures
not that they matter, it’s just a pinkie promise anyway
This guy sucks. He advocates for a benign economic dictatorship.
[https://www.dorchesterreview.ca/blogs/news/mark-carney-just-what-we-dont-need](https://www.dorchesterreview.ca/blogs/news/mark-carney-just-what-we-dont-need)