Evidence of meeting #64 for Finance in the 41st Parliament, 1st Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was csis.
A video is available from Parliament.
7:55 p.m.
Conservative
Brian Jean Conservative Fort McMurray—Athabasca, AB
Yes, thank you, Mr. Chair.
Mr. Kennedy, you mentioned that somebody would talk to you about criminal law, and I was wondering how many years you practised criminal law?
7:55 p.m.
As an Individual
I was a lawyer with the Department of Justice for 25 years. I started off as a criminal prosecutor in Toronto for about eight years. I picked it up again as the senior general counsel for the Federal Prosecution Service. I was responsible for the criminal prosecutions in Canada in terms of drugs, proceeds of crime, money laundering, those things.
7:55 p.m.
Conservative
Brian Jean Conservative Fort McMurray—Athabasca, AB
Actually, it says that in your bio, which is on the website in front of me; thanks very much, Mr. Brison.
8 p.m.
As an Individual
Of course, I have four-plus years on the.... As chairman of the commission, one has to refresh one's knowledge of criminal law.
8 p.m.
Conservative
Brian Jean Conservative Fort McMurray—Athabasca, AB
Absolutely, and you were reappointed once by this government.
8 p.m.
Conservative
Brian Jean Conservative Fort McMurray—Athabasca, AB
Twice by this government, that's right.
In your time as a prosecutor, did you ever lose any cases?
8 p.m.
Voices
Oh, oh!
8 p.m.
Conservative
Brian Jean Conservative Fort McMurray—Athabasca, AB
That begs the question, what do you know about me?
8 p.m.
Conservative
Brian Jean Conservative Fort McMurray—Athabasca, AB
Yes, thank you very much. I appreciate that. I've never been convicted, nor charged. I only wanted to say that for the record. As I said, I was a criminal lawyer, but not a criminal and a lawyer at the same time.
That was my point. The one thing I do know—and I have a short period of time—is that in every room that has two lawyers, there will be three opinions. One will be on one side, one will be on the other, and one will be somewhere in between.
Thank you.
8 p.m.
Conservative
The Chair Conservative James Rajotte
That was what they said about economists—they've predicted 12 of the last five recessions.
Thank you.
Mr. Brison, you'll probably have a couple of minutes. Once the bells ring, I will adjourn.
8 p.m.
Liberal
Scott Brison Liberal Kings—Hants, NS
Thank you very much.
I have a question on mortgage policies. When were 40-year, no-down-payment mortgages first introduced in Canada?
8 p.m.
Prof. Jane Londerville
In the early 2000s and they weren't around for very long.
8 p.m.
Prof. Jane Londerville
In 2004, 2005, something like that, and they were only there for like two years, maybe.
8 p.m.
Prof. Jane Londerville
Okay. So there you go.
8 p.m.
Liberal
8 p.m.
Prof. Jane Londerville
There was, yes.
8 p.m.
Liberal
Scott Brison Liberal Kings—Hants, NS
I think around 40% of first-time mortgages fell into that category.
8 p.m.
Prof. Jane Londerville
I don't know that percentage, but I wouldn't be surprised. I saw some stats from Genworth where they had done quite a.... A third of theirs were 40 years in the year that I was looking at.
8 p.m.
Liberal
Scott Brison Liberal Kings—Hants, NS
So, they are introduced in 2006 and the decision to reduce the amortization period came about after the global financial crisis, is that correct?
8 p.m.
Prof. Jane Londerville
Yes. I think 2008 was the drop to 35 years, and 2010 to 30 years. Something like that.