Saturday, February 13, 2010

TD Bank and the Liberals

So what's with TD and Liberals? Red Ed Clark is the latest to get into the political fray.

First you have Don Drummond who worked in the finance dept and advised Paul Martin.
In support of Dion's Green Shift:
"A prominent Canadian economist says Stephane Dion's "Green Shift" carbon tax plan is "a good start" that will leave the general Canadian taxpayer "better off."

"The idea itself is very sensible," Don Drummond, the chief economist at TD Bank, told CTV's Canada AM on Friday.

"There's a growing consensus to do something about emissions. We need to put a price on carbons. This proposes it."

Drummond said that "in most cases" the average Canadian will "be better off" because of income tax breaks and additional federal benefits included in the plan. He also noted that the Liberal plan also addresses a "bizarre situation" on energy taxes.

"We have a fairly stiff tax on gasoline. We have a lower level tax on aviation and diesel. But we have no tax of other pollutants from energy (such as coal). So, it levels the playing field," he said."

And This:

"Don Drummond would be well-advised not to give up his day job as TD Financial's chief economist to try his hand at politics.
"McKenna didn’t pull any punches when asked what the federal Liberal leader should do about Tory ads that label him “just visiting” and “only in it for himself.” “I think you have to fire back,” he said. “My inclination is to use attack ads when you’re attacked.” As for the sort of adversaries the Liberals are up against in Prime Minister Stephen Harper’s tacticians, McKenna added, “They are dealing with thugs; they’ve got to fight back and fight hard.”

Now, Ed Clark , or "Red Ed" because he once worked for the Trudeau Liberal government,and helped draft the horrible NEP. He was fired shortly after PM Mulroney took office. Thank God for that!
Red Ed Clark has stepped into the political fray by criticizing PM Harper saying that the PM isn't listening regarding reducing the deficit. He said that Canadian CEOs want taxes raised.

"Last week at a conference in Florida, TD Bank CEO Ed Clark said Prime Minister Stephen Harper isn't listening to the overwhelming view of Canadian CEOs that tax increases are the best way to reduce a record deficit.

He told the conference that almost every person at a recent meeting of the Canadian Council of Chief Executives said “raise my taxes” to erase it.

Since when do bank executives get political and try to tell what the government what to do? They are supposed to be non-partisan. Especially from someone who crafted the NEP that stole millions of dollars from the west namely Alberta?

Mr. Iffy has come out in defense of Red Ed as recent as today at the Olympics of all places. You can understand why.

This is what Red Ed Clark donated to the Liberal Party, in particular to Michael Ignatieff in 2009.

Click on image for larger image.

Is TD another branch of the Liberal Party? One wonders.

BTW. Happy Famly Day!

Update: (h/t) reader, Ron Conway

"Ron Conway said...

Please add the following donations to the Liberal Pty as per Elections Canada-

Oct 28/2005 - 2000.00 - Liberal Pty Can

Jan 5/2006 - 2000.00 - Iggy campaign

Jan 6/2006 - 4895.00 - Liberal Pty Can

Oct 18/2006 - 2000.00 - Bob Rae campaign

May 11/2007 - 956.56 - Liberal mPty Can

Adding up the 2200.00 for Iggy & Rae he has donated over $13,000.00 to the Liberal Party of Canada in the past 5 years. Let not this man be called an ordinary Canadian- He is a very large supporter of the Liberal Party of Canada and their policies."


Ron


15 comments:

  1. Please add the following donations to the Liberal Pty as per Elections Canada-

    Oct 28/2005 - 2000.00 - Liberal Pty Can

    Jan 5/2006 - 2000.00 - Iggy campaign

    Jan 6/2006 - 4895.00 - Liberal Pty Can

    Oct 18/2006 - 2000.00 - Bob Rae campaign

    May 11/2007 - 956.56 - Liberal mPty Can

    Adding up the 2200.00 for Iggy & Rae he has donated over $13,000.00 to the Liberal Party of Canada in the past 5 years. Let not this man be called an ordinary Canadian- He is a very large supporter of the Liberal Party of Canada and their policies.


    Ron

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  2. gotta launder that money outta quebec somewhere...what better place than the "Toronto Dominion"

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  3. Got ya Ron Conway. Thanks for the info, I'll post in an update.

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  4. I have more than 40 grand in TD mutual funds that I am considering moving to a non Liberal bank. Anyone else?

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  5. "Anonymous said...

    I have more than 40 grand in TD mutual funds that I am considering moving to a non Liberal bank. Anyone else?"

    You bet. I'm moving to the Alberta Treasury Branch.

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  6. Does the TD hold the out standing Leadership loans?

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  7. Don't put your dime where RED ED can get hold of it to use it to support the liberal party of canada.
    Anonymous, frmgrl may have a solution to your problems.

    frmgrl, the liberals stole in the millions and apparently 40million dollars is still missing. I get this feeling that it is stuck in some special vault at TD BANK. No doubt.

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  8. I have 65 grand in TD investment funds that I am moving.

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  9. My business and rrsp's have been with TD for the last 15 years. I am sick of their high bank fees for crappy service from old, rude, b1tches! I will be pulling out all money in the next 2 weeks. Can anyone recomend a bank with a business overdraft that is PC?

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  10. Tip for those moving their investments. Don't cash them in, move them to another bank. Check to see what tax implications are if you cash them in, capital gains, tax withheld. Check with your new bank to see the best way to do it.

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  11. McKenna, the Vice Chairman, called the Conservatives "thugs" and during Dions time hosted a reception for him with the business community.
    Conservatives should consider not doing business with this partisan bank.

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  12. Thanks, maryT for that advise.

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  13. Your broker will have a closure and transfer fee. With a small account it could cost as little as $60. but then again don't tell them that you voted for Stephen Harper.

    Janice

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  14. I already have closed two accounts but man o man I'm waffling over walking away from a huge line of credit that TD has dangled and continued to increase over time.

    The mortgage is a different matter as renewal comes up in March....

    How would Mr. Ed the talking horses ass call it.....Yes...leverage!!

    Janice

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  15. Wait, so Conservatives are allowed to receive donations from corporations, but Liberals are not allowed to receive donations from private donors?

    Given that all political parties have designated pollster companies, it's no surprise that some banks may prefer certain parties over another. However, that's a gross generalization in itself.

    Your argument is rather flawed. I suppose this is why so many blog and why so few get published to academic journals.

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