I was looking at the difference in the borrowing rates.... In fact, those differences have widened even more, so the cost for it would be even greater right now. As you all know, the federal government's borrowing rates are considerably lower.
Meanwhile, with the example of the REM, the private partner is expecting to get rates of return of 8% or 9% on this and the federal government is lending at 1%. I don't have problems with the federal government lending at low rates for public infrastructure, but I don't think those should go to private profit in that way.
One thing I found surprising, after that, was that even Bay Street was highly skeptical about the CIB, for a number of reasons. I think that certainly explains some of the problems that it's had.