I agree that there is serious problems within this government and how they operate. The secrecy that not just Ted Morton but this whole PC government operates under needs to be investigated criminally. This government has no interest in acting in the publics interests, only their own.

Thank you for your comments and informtion.
Joe

They each have proven that they will “protect their own interests” before protecting the public.

I have now heard from Alberta Finance Minister Ted Morton.   He will not answer questions on the practice of letting investment firms violate our laws.  It is strange to see a public servant stand on the side of financially abusive practices and secrecy.

Despite $32 billion missing from the Canadian economy using legal tricks. (ABCP toxic investments)  Despite mutual fund companies which put billions into their own pockets at the expense of the public.  Despite several investor suicides, by people who have been damaged by illegal investments “approved” by our securities commissioners.

Provincial securities commissions have done thousands of back-room deals without notice to the public.  Deals that give investment sellers “permission” to ignore our laws that protect investors. Strange to think that this is how our securities commissioners get paid. Can you imagine a police force that got paid by selling permission slips to skirt the law?

The finance minister refuses to answer.  This speaks volumes about what he is hiding. Or who he is taking his “advice” from.  I suspect he gets his advice from persons earning $500,000 salaries at the Securities Commission.   The Ontario Legislature recently chastised it's securities commission for failing to protect the public interest.  Alberta Finance is years behind in protecting the public. But they are fine at protecting themselves.

The questions are:

“What public interest is served by giving investment firms permission to sell products that do not meet our laws?”

“If there is a legitimate public interest, then why are the deals done in secret, without notice to consumers of the investments, and without public disclosure?”

If there are legitimate reasons then the questions are easy.  If there is something to hide, then they become more difficult.  Mr. Morton, why are you hiding?

With no explanation, I conclude that our investment industry is getting away with the financial murder of our economy. Some prefer to call it financial rape. I call it legalized financial abuse and it is in the order of billions. They are riding on a perfect wave of self regulation, corruption, connections and cronyism. Mr. Finance Minister, what are you gaining by supporting these practices?

For Alberta Finance to hide this is a breach of trust.  Write a note and see if they can answer.  Then write me a note and myself and Citizens For Better Governance will track the answers. lelford@shaw.ca
Larry Elford (former CFP, CIM, FCSI, Associate Portfolio Manager, retired)
103 – 7 A Ave South
Lethbridge AB T1J 1N3
403 328-0391
Founder of http://www.investoradvocates.ca

Work at home jobs can be hard to trust. That's why we research and publish only the best of the best carefully pre-screened 100% scam-free work at home jobs you can depend on. No get rich quick schemes. No scams. Just 100% real work at home jobs

http://www.onlineuniversalwork.com