13 November 2008

The Fire Sale Begins...

Federal government considering sale of Crown assets: Flaherty
Last Updated: Thursday, November 13, 2008 | 5:27 PM ET The Canadian Press

Finance Minister Jim Flaherty says the Conservative government is looking at selling off some Crown assets in order to keep the country from running a deficit.

He wouldn't reveal which properties — or Crown corporations — might be on the auction block, but hinted Ottawa's stake in Toronto's CN Tower might be one of them.

Flaherty ruled out selling the CBC, which accounts for $1 billion of the federal budget every year.

Public Works Minister Christian Paradise cautioned that the review of assets is only in the preliminary stages.

Flaherty emerged from a Conservative caucus meeting in Winnipeg with a grim economic assessment, saying that conditions across the globe are likely to get worse and that he is consulting with economists almost every other day.

The governments are now selling everything they can think of to remain solvent now that they have decided that bailing out all the industries in the country is a good idea. It's only a matter of time now before the entire financial ponzi scheme collapses, so look for some good Crown Corporation investments while they're hot! LOL Yeah, right....

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