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Message: Re: $1.4B Exposure For ManuLife

Oct 13, 2008 11:28AM

Mechman,

Harper denied that there was a crisis throughout the campaign and took credit for the state of Canadian banking. He was wrong about the lack of a crisis and he didn't do anything for Canadian banking, that was all in place before he got into power.

I don't want to get into a political debate, and Harper has no monopoly on telling lies in the campaign. However, when Manulife has a $1.4 billion exposure (so far) to the credit crisis, RBC has to pay $0.9B in a deal with the SEC for their trading in worthless credit, and all of the Canadian banks have had large write-downs over the last year because of their exposure, it shows that Harper is in denial.

Strategic denial. Up until just a couple of weeks ago Bush was saying the US economy is strong too.

Cheers,

Bluenoser

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Oct 13, 2008 04:05PM

Oct 13, 2008 06:52PM
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