Tuesday, November 6, 2007

Why Dissolve the CMHC?

The Canada Mortgage and Housing Corporation is a taxpayer backed subsidy to the Canadian banking business. The government shuold sell off the CMHC and let the private sector take over the task of insuring risky mortgages.

Why should my hard earned tax-dollars back up risky mortgage bonds?
Why does the government need to be involved?

Some facts:

About the CMHC
History

The Canada Mortgage and Housing Corporation DOES NOT serve the interests of the Canadian public. It is in the back pocket of the banking, development, and real estate industries. The economic analysis and products they offer only serve the interests of a select few wealthy individuals and corporations. These people recognize the massive risk they are offloading onto the unsuspecting Canadian taxpayer (that is you and me) and will do everything in their power to keep the status quo.