“The accumulated Canadian experience on nuclear plant repairs shows that it always costs much more and takes longer than originally budgeted, and suggests that it would make a lot of sense for Ontarians to consider all our options before committing our children and grandchildren’s funds,” wrote York University environmental studies Professor Jose Etcheverry in the Toronto Star May 9. “Instead of saddling the public with high nuclear bills, the people and the government of Ontario should pause and consider what other civic tasks could be achieved with our money.” Read full story.
CMHC takes first steps to new identity
By any measure, the national housing agency created in 1946 by the Liberal government, led by former prime minister Mackenzie King, has morphed into a major financial institution. Despite this “unconstrained power”, the Canada Mortgage and Housing Corp. (CMHC) was not regulated like other large financial players. It had no meaningful oversight beyond its political masters and no real supervision….After decades of practising benign neglect, the federal government is belatedly bringing CMHC in line with the new risk realities of the post-2008 financial crisis world….“Banking and mortgages are the most complex industry imaginable. It’s directorship at its toughest,” said York University Professor Richard Leblanc in the Financial Post May 9. Read full story.