Evidence of meeting #43 for Finance in the 39th Parliament, 2nd Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was immigration.

A recording is available from Parliament.

On the agenda

MPs speaking

Also speaking

Tom Pang  Acting President, Chinese Canadian Community Alliance
Peter Ferreira  President, Canadian Ethnocultural Council
James Bissett  As an Individual
Fred Carsley  Lawyer, As an Individual

5:05 p.m.

Liberal

John McCallum Liberal Markham—Unionville, ON

No, no.

5:05 p.m.

Conservative

The Chair Conservative Rob Merrifield

Let's do that. If that's a consensus, we'll have Mr. Purdy Crawford for the first hour and then have the sellers of the product for the second hour.

Is that fair?

5:05 p.m.

Liberal

John McCallum Liberal Markham—Unionville, ON

I'd like to make one other....

Go ahead.

5:05 p.m.

Conservative

The Chair Conservative Rob Merrifield

Let's get a consensus on that first of all.

5:05 p.m.

Bloc

Paul Crête Bloc Montmagny—L'Islet—Kamouraska—Rivière-du-Loup, QC

I agree to having Mr. Crawford in the first hour, but, in the second hour, we could hear, in particular, from the Superintendent of Financial Institutions and the federal players involved. The Superintendent of Financial Institutions is the person most in contact with the responsibilities. Investors have come and told us—

5:05 p.m.

Conservative

The Chair Conservative Rob Merrifield

Yes, I agree with that. Would that be for a subsequent meeting, or do you want it right after that one?

5:05 p.m.

Bloc

Paul Crête Bloc Montmagny—L'Islet—Kamouraska—Rivière-du-Loup, QC

After the first hour. Who are the sellers?

5:05 p.m.

Liberal

John McCallum Liberal Markham—Unionville, ON

Canaccord is one.

5:05 p.m.

Conservative

The Chair Conservative Rob Merrifield

National Bank, Scotiabank, Canaccord.

5:05 p.m.

Bloc

Paul Crête Bloc Montmagny—L'Islet—Kamouraska—Rivière-du-Loup, QC

All right.

5:05 p.m.

Conservative

The Chair Conservative Rob Merrifield

That's what I was thinking of for the panel for the second hour, and then we'd bring OSFI in on a subsequent meeting.

Is that fair?

5:05 p.m.

Bloc

Paul Crête Bloc Montmagny—L'Islet—Kamouraska—Rivière-du-Loup, QC

We said we would deal with the crises in the short term, that we would then make recommendations to prevent the situation from reoccuring and that we would try to produce a report on the subject before the summer adjournment.

5:05 p.m.

Conservative

The Chair Conservative Rob Merrifield

That would be the objective, yes.

5:05 p.m.

Bloc

Paul Crête Bloc Montmagny—L'Islet—Kamouraska—Rivière-du-Loup, QC

The Caisse de dépôt et placement du Québec because it was its executive director who started the process.

5:05 p.m.

Conservative

The Chair Conservative Rob Merrifield

No, that's fine.

5:05 p.m.

Liberal

John McCallum Liberal Markham—Unionville, ON

The Caisse de dépôt et placement.

5:05 p.m.

Conservative

The Chair Conservative Rob Merrifield

Yes, fair enough.

5:05 p.m.

Liberal

John McCallum Liberal Markham—Unionville, ON

There's one last suggestion, which came from my colleague, Mr. Rae.

5:05 p.m.

Conservative

The Chair Conservative Rob Merrifield

You have a lot of suggestions over there. I like that, good ideas.

What's your suggestion?

5:05 p.m.

Liberal

Bob Rae Liberal Toronto Centre, ON

I've considerable history in finance, so you should watch what you say.

5:05 p.m.

Conservative

Rick Dykstra Conservative St. Catharines, ON

Actually, I know your history in finance, Mr. Rae.

5:05 p.m.

Conservative

The Chair Conservative Rob Merrifield

Order.

Mr. McCallum, do you have another suggestion?

5:05 p.m.

Liberal

John McCallum Liberal Markham—Unionville, ON

This is my colleague's idea, but the one bank that seems not to have been heavily into these difficulties is TD Bank, so maybe we should hear from the head of TD Bank, Mr. Ed Clark, on what his secret is and he how sees the world unfolding.

5:05 p.m.

Conservative

The Chair Conservative Rob Merrifield

Do you want him on that second-hour panel? Is that what you're suggesting?

5:05 p.m.

Liberal

John McCallum Liberal Markham—Unionville, ON

Yes.