Senator says Ottawa may have to buy stakes in Canadian companies to aid economy

Sen. Yuen Pau Woo, facilitator of the Independent Senators Group, speaks to reporters on Parliament Hill in Ottawa on Tuesday, June 19, 2018.A prominent leader in Canada’s Senate says the Canadian government should be prepared to buy stakes in companies in order to steer the economy out of the pandemic.

Mr. Woo is an economist by training and profession and once worked as a central banker in Singapore. Before he was appointed to the Senate he headed the Asia Pacific Foundation of Canada.The Senate leader said buying stakes in companies could help preserve Canada’s production capacity during an economic downturn caused by the impact of the novel coronavirus.

“My own view is that taking a direct stake in industries and companies are distressed is probably the best approach because it enables the government to strike the balance between meeting the needs of shareholders, executives and, more importantly, workers.”

globepolitics Like that pipeline? How's that working so far?

globepolitics Because government owned businesses are always successful, right?

globepolitics B u l l s h I t

globepolitics Says the Chinese guy!!

globepolitics GAWD! What could possibly go wrong with that?🐻

globepolitics Company singular actually, and I bet it starts with a 'B' and ends in a 'ombardier'

RobertFife globepolitics NO WAY!!!! Must not be allowed to happen. If CPC did not quash Trudeau’s power grab bill, taxpayers would be the sad owners of SNC Lavalin and Bombardier right about now.

globepolitics Of course why not!

RobertFife globepolitics Riiiight. This should work.

RobertFife globepolitics why,, if we need oil companies we can pick them up from bankruptcy and get rid of the bastards that lied about climate change for decades.

globepolitics Nope

globepolitics Gee, wonder what companies the Liberals might buy stakes in...

globepolitics You know he's talking about Bombardier right

globepolitics No. No. No!!!

globepolitics ' why are same ppl being left in charge of these companies, ENRON wins every f'n time, this is lunacy, madness, break out the pitch forks '

globepolitics The communist takeover Bullshit No one should get into bed with the government, you will lose everything Better to go bankrupt

globepolitics Can you buy my house for my personal economy ?

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Ottawa asking banks, credit-card companies to lower interest rates due to COVID-19 pandemicOttawa asking banks, credit-card companies to lower interest rates due to COVID-19 pandemic GlobePolitics globepolitics Asking banks....lol Why not impose it? globepolitics Just do it! globepolitics How bout the rising mortgage rate by big banks to Canadians. Soaring unemployment, crashing economy, slashed BOC rates, and banks raise rates.. . Call your bank. Ask if rates are up in last month? This is robbery. Less worry bout 5k credit cards, more worry bout 500k mortgages
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