More Ranting About Politicians.

It doesn’t look like the Dow is going to be hitting any records today. So call me a liar. Well maybe if it goes down quite a bit today it won’t hit the record close for a while. But I do think it’s in the interest of Wall Street to let the Dow hit a record. Think of all those folks that will be streaming in to the markets, only to have Wall Street sell of when 12 or 13,000 is broken. That would be more conducive to large profits for Wall Street.

We do know that the price of oil has fallen almost two dollars this morning and is currently below $61. If the inventory report this week shows an increase, hopefully the markets will be spurred on to reach new highs. I think once oil breaks $60 then we’ll be heading to the low 50’s or high 40’s.

Yesterday we were talking about politicians. Then later at home, I was watching the news and a story comes on about former city councilor and now Immigration and Refugee Appeal Board Judge named Steve Ellis offers to accept a claimant if she has sex with him. Fortunately, or unfortunately for Ellis, her boy friend got the whole thing on video. Just more proof that politicians are not only useless for any sort of public good, but only after their own interests. If you want to see the whole story here’s the link:

http://www.ctv.ca/servlet/ArticleNews/story/CTVNews/20061002/irb_judge_061002/20061003?hub=TopStories

The video is on the right in the video section. Enjoy.

A little while ago I sent a letter to the Finance Minister of Canada talking about how unfair it was that people who work under federally regulated companies could not do what they want with their pension money when they leave. They have to keep it in federally regulated locked in accounts and are unable to do anything with the funds until they reach retirement. People who work at all other companies are free to use their funds. Rather than talk about that you can read the September 19th post for the particulars.

What this post is about is that I emailed the letter to three people; the Finance Minister, The Prime Minister and my member of parliament. So far I have received responses from the Finance Minister’s Office, and the Prime Minister’s Office. I guess my MP is too busy to reply, and he’s not even in the governing party.

I sent my email on the 28th of August. On the 31st the Finance Minister’s Office sent me a nice and short form letter reply. I have since wrote back and am awaiting there reply. The form letter as well as my reply is below:

Does as soon as possible mean before the next election? Am I now to petition all Federally regulated employees and forward that to the minister to get this issue looked at? The previous Liberal government was at least looking into it, what happened to that information? I've read several letters to that commission asking for the withdrawal of the Locked in pension requirement. Yet where is there any action?

Dean
re-FINEMail@fin.gc.ca wrote:
August 31, 2006
2006FIN194479Mr. Dean
Dear Mr. Dean:
On behalf of the Minister of Finance, the Honourable James M. Flaherty, this is to acknowledge receipt of your correspondence of August 28, 2006.Please be assured that your comments will be brought to the Minister's attention as soon as possible.Departmental Correspondence Unit


Now is that cool or what an actually acknowledgement from the Minister’s Office. Wait it gets better. Yesterday, over a month from the original email, I received a reply from the Prime Minister’s Office. I hate to think how long it would have taken had I used regular mail. But the PM’s office say that they will pass my concerns on to the Finance Minister but my email was addressed to the Finance Minister, I only cc’d the Prime Minister. Below is the email I received along with my reply:

Prime Minister/Premier ministre wrote:
Dear Mr. Dean:On behalf of the Right Honourable Stephen Harper, I would like to acknowledge receipt of your recent e-mail correspondence regarding pension funds and locked-in RRSPs.Please be assured that your comments have been carefully reviewed. I have taken the liberty of forwarding your message to the Honourable James Flaherty, Minister of Finance. I am certain that the Minister will wish to give your enquiries every considerationThank you for writing to the Prime Minister.Executive Correspondence Officerfor the Prime Minister's OfficeAgent de correspondance de la haute directionpour le Cabinet du Premier ministre
And my reply:

Thank you for your prompt response; however, I have already forwarded my comments to the Finance Minister directly. His office is doing an excellent job of humouring me as well.

I know the previous Liberal Government was looking into this issue as I have seen several submissions to the commission looking into federal pension rules from concerned people like me with funds stuck in locked in retirement accounts that could be combined into our regular RSP's as with most of our provincial counterparts. Instead we are forced to keep second accounts and pay double the fees. All this to ensure that the friends of the government, in the executive offices of the banks, earn more profits at the expense of the little working guy.

I would assume that the Finance Minister's pension from his days as an MP are not subject to the same restrictions as mine or any other federally regulated employee? Perhaps the government enjoys being condescending to the little guy? Perhaps these working "stiffs" are not smart enough to control money that is rightfully theirs? I really fail to see the logic in the government not doing anything to amend this archaic pension legislation.

I it really necessary to go through the exercise of collecting signatures on a petition, starting a website etc. to get the government to look at this issue? Or is there someone in the public service that actually see how unfair this is? I know that the Finance Minister doesn't care. He's earned enough as an MPP and now as an MP to care. When he gets out he will have enough connections to get a high paying job. But the rest of us are having a hard time and need access to additional funds or at the very least need to be able to manage their investments without watching them dwindle under the burden of additional fees.

Please let me know whether you will look at the work of the pension commission and work to get this restrictive legislation changed.

Regards,

Dean


I think that my MP has gone missing.