Canadian perspective: Ontario Teachers' Pension Plan poised to sell out Canada to American ownership clique

by Rene Moreau

Ontario Teachers' Pension Plan representatives suggest that the CRTC dealt with the issue of Canadian ownership of Bell Canada Enterprises (BCE). In my capacity as alarmist, I must remind the Ontario Teachers' Pension Plan that Mr. Conrad Von Finkenstein, the supposed head of the CRTC, was formerly head of the Competition Bureau of Canada and stopped not one deal as the neighbours' corporations had a feeding frenzy on Canadian businesses. Of course, the Canadian government did nothing to stop Canadians from selling almost everything available. When Mr. Von Finkenstein gives his blessing to such a deal, this is not necessarily a good thing.

Through it all, of course, NAFTA says 'thou shalt not discriminate against American corporations', and our government bends down to that. Literally.

By he way, if anyone chooses to check out the Royal Bank of Scotland's (Bridgeport, Connecticut) affiliation with Citizens Bank, in the U.S. Van City of Vancouver, a credit union, also uses the name Citizens Bank. They claim to have no affiliation with the American Bank.

It is not at all unusual for the name of a European entity to be put in the list of potential buyers or bankers to give some supposed relief from all the American names. The name Deutschebank keeps coming up for instance, in buy-outs.

Maybe now would be a good time to set up self-defences from the wishes of the corporate world. It could be called a Corporate Magna Carta.

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