It's extremely frequent. We've been tracking these trusts for a long time.
We have two major concerns that don't get addressed. One is the Accounting Standards Board in Canada. We're the only country in the world that allows the auditors to set the rules, so it's no great mystery that the rules are loose. I'm in court extensively on these types of cases. So I don't know how we can possibly allow that to happen.
We also allow provincial securities commissions, and I've testified before them many times. There's no point in talking to the RCMP, I'm sorry to say. I've done that 20 times and these cases go nowhere. So we have a situation across Canada where no one is looking at the interests of the investors.
On Mr. McCallum's reference to the securities commission and the document it put out a couple of weeks ago, I will have a response to that in the National Post perhaps as early as tomorrow. It's very clear that nothing is happening in that area.
We sat through the Nortel fiasco; we're now sitting through the income trusts. If you look at my track record, I've called many of these over the last 20 or 30 years. So I'm saying we have a crisis in Canada—the worst I have ever seen. It absolutely shocks me that we're foot-dragging on what is clearly the cause of the problems of the gentlemen here and many others.
No one is taking action. We're working with the class action lawyers because they're quite concerned. I also write every second issue of Canadian Business. Do you think I don't get e-mails, Mr. McCallum? I get tons of them, and they certainly don't support the foot-dragging that's occurring.
We have a major problem here, and passing it off and saying it's the responsibility of the provinces or somebody else is absolutely irresponsible, in my opinion.