Mr. Speaker, Canadian banks have a golden opportunity. They can prove their commitment to the Canadian people by helping farmers in Canada.
Grain and hog farmers in Canada are trying to survive the most serious crisis since the great depression of the 1930s. After years of record profits, bank closures and a multitude of service charges, the banks have been spending millions on a lobbying campaign to force the acceptance of mergers. Canadians have be vigilant in their opposition to the mergers and have clearly said no.
The banks were in the farming and mining communities in the good times and now they must stand by them through the bad. They must reconcile their profitability with the responsibility which comes with their charters.
They can begin rebuilding their reputation with Canadians right now. It is imperative that Canada's chartered banks put those merger campaign dollars into productive use and invest in the farming and mining communities of Canada.
I urge the banks to halt foreclosures on any family farms during this crisis.