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Harper Maintains Bail-in Regime in his 2013 budget

The 2013 Canadian Federal Budget put forth by the Harper Conservative government on March 21 may hold more importance to Canadians than just how their tax dollars are being spent.  On page 145 of the 2013 budget, a clause was included that reads:

The Government proposes to implement a bail-in regime for systemically important banks. This regime will be designed to ensure that, in the unlikely event that a systemically important bank depletes its capital, the bank can be recapitalized and returned to viability through the very rapid conversion of certain bank liabilities into regulatory capital.”

...Harper Maintains Bail-in Regime in his 2013 budget

Margaret Thatcher - A true conservative giant dies

Margaret Thatcher was a conservative member of parliament in the United Kingdom, and also served as Prime Minister from 1979-1990. During her time as Prime Minister, Thatcher brought about great change to a nation that was in dire need for a leader. She led the United Kingdom out of labour strikes, and away from the control of unions over their working populations. She also brought the UK from the verge of economic collapse into economic prosperity. In the mean time, Thatcher was faced with opposition from the USSR, and she would play a key role in the dismantling of the Soviet Union. Not only was Thatcher a great politically conservative leader, but she was also a socially conservative leader.

...Margaret Thatcher - A true conservative giant dies

Conservative 2013 Budget May Allow Banks to Confiscate Customer’s Deposits

On March 21st, 2013, Prime Minister Stephen Harper had his Finance Minister Jim Flaherty present their 2013 Budget that included a “Bail-In Regime” on page 145.  This clause will allow banks to convert liabilities into capital in times of need.  The recent events in Cyprus, coupled with the G20 agreement in Mexico City-2012, suggest that this so called bail-in scheme may be used to plunder the savings of Canadians.

The bank failures of 2008 were rescued by governments doling out trillions of dollars of bail-outs.  The result was massive national debt for western countries.  International financial discussions have recently revolved around a new option for banks to simply loot the accounts of their customers.  Cyprus banks were the first to implement a “bail-in”.  The Eurogroup deal on March 25th allowed the Bank of Cyprus to use 37.5 % of deposits exceeding 100,000 Euros for the initial bail-in and a further 22.5% to remain on hold.  This action caused massive runs on Cyprus banks, riots, and unrest leaving citizens screaming “you took my life savings”.

...Conservative 2013 Budget May Allow Banks to Confiscate Customer’s Deposits

Margaret Thatcher was a leader who knew her mind and stood her ground

The Soviets were the first to call her the Iron Lady, but the canny and belligerent Margaret Thatcher turned it to her advantage as the first female prime minister of Great Britain. Like Boudica, she was a warrior; like Winston Churchill, she remade her country.

At home she fought inflation, the unions and nationalized industry, promoted individual over collective rights and espoused hard work and personal responsibility as the route to prosperity. As the personification of the right-wing conservative ideology that came to be known as Thatcherism, she liked to declare: “I am not a consensus politician, I am a conviction politician.”

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Canadian Finance Minister Jim Flaherty leaving behind legacy by keeping nation at steady financial pace

Much was made in the run-up to Thursday's federal budget that was the eighth - and very likely last - budget to be introduced by Finance Minister Jim Flaherty. He is not expected to run for re-election in 2015.

"So," one pundit asked, "what will this budget tell us about Flaherty's legacy?"

Why don't we call Flaherty's time at Finance "Up the Down Escalator?"

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