Mr. Speaker, It has always been my concern that the five major banks make such high profits during both downturns and upturns in the Canadian economy.
The high amounts of profit the banks have declared this past month are particularly incredible. Even more disturbing is the fact that while some banks are making over $1 billion profit, they are at the very same time putting builders and developers out of business with a callous take it or leave it attitude.
I call on the Prime Minister to fulfil the recommendation of the Standing Committee on Industry to implement an independent ombudsman to oversee banking practices in this country. The sooner small and medium size businesses get a fair shake, the sooner they will be able to prosper again.