Tuesday, March 2, 2021

The Independent CPPIB's Machin Resignation Comes After Chrystia Freeland's Comments; It Must Be So Simple To Just Replace the Head of the Most Important $500B Fund For Canadians

 A non-Canadian resident is unable to pay for a trip somewhere in the world to do whatever business he is able to do, legally? Interesting to see that even non-residents are beholden and shackled by our provincial health cares systems and the Liberal government's ineptitude of rolling out vaccines nevermind disclosing details of the vaccine contracts. Did anyone else know that? Where is that written down? Even more stunning is the Liberals' thinking that the reigns of the most important pool of capital necessary to all Canadians can simply be replaced as easily as a cashier at a grocery store. So much for continuity - Canadians may not know it, the fund has performed well...under Machin.

Terence Corcoran: The official version of the Mark Machin takedown just doesn’t add up | Financial Post

"...The story broke in the Wall Street Journal last Thursday. According to “people familiar with the matter,” Machin “told contacts” that he had arrived in Dubai earlier in February with his unnamed “partner” and “used local connections” to secure doses of the Pfizer/BioNTech version of the vaccine.

Despite the fact that the CPPIB is technically independent from the federal government and is officially overseen by an independent board of directors, Finance Minister Chrystia Freeland and her press secretary instantly issued damning comments. Katherine Cuplinskas, the press secretary, said that, “While the CPPIB is an independent organization, this is very troubling.”

Press secretaries do not issue personal comments. They are told what to say as the representative of the minister. “The federal government has been clear with Canadians that now is not the time to travel abroad,” Cuplinskas continued. “We were not made aware of this travel...”

Machin is not a Canadian. 

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