Carol Hughes at the Human Resources, Skills and Social Development and the Status of Persons with Disabilities Committee

On October 4th, 2011. See this statement in context.

October 4th, 2011 / 5:10 p.m.

NDP

Carol Hughes NDP Algoma—Manitoulin—Kapuskasing, ON

Thank you.

We understand that CMHC bought $66 billion in risky mortgages from the banks during the economic downturn. We all know that the housing bubble collapse in the U.S. was the major contributing factor to the recession that followed in 2008 over there. So I'm just wondering, when you bought these, was there a risk to Canadian taxpayers as a whole?

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