CPP and the synoptics

imagesThe synoptic gospels are replete with warnings about greed, about one in seven lines reflect the Jesus wisdom here.All of us could quote endless lines about this time honoured warning.

The 80s of course, the decade of Reagan, Thatcher and Mulroney had their own immortal line—in Oliver Stone’s great character played by Michael Douglas in the film Wall Street.

“Greed is good” said Gordon Gecko.

Now we see the results in the MAdoff-Greenspan era.

We can be proud that Canada has not been left behind.Witness the following.

According to a report released at the end of May,the heads of the Canada Pension Plan are slated to take home millions in bonus payouts this year, even as the fund struggles and the economy slips deeper into recession.

NDP Leader Jack Layton expressed outrage over the figures on May 28 during question period in the House of Commons.

“The CPP Board is supposed to protect the savings of Canadians. This is money earned through hard work and they were counting on it for their retirement,” Layton said.

“We have the prime minister essentially endorsing $17 million of Canadians’ money going into the pockets of executives who just lost $24 billion. How can that make any sense whatsoever?”


Prime Minister Stephen Harper washed his hands over the issue.

A market man all the way, Steve did not want to get involved here.

Apparently he and the CPP board see nothing wrong with compensating these people in such a ludicrous fashion.

Gospel wisdom still holds up.



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