Madam Speaker, I listened with interest to my hon. colleague who as usual gave a very profound address in terms of the nature of this omnibus legislation. He pointed out the reasons why we are concerned about a number of features, one which makes the Minister of Finance virtually a banking and financial czar of the country. As capable as he may be, this obviously causes Canadians some concern.
I have a question for the member. A number of American states have legislation that would require a bank that takes in deposits from a particular region to reinvest in that particular zone. In other words, if we take money from a particular region or community, we are obligated to write loans to benefit the businesses or people of the particular area. It is called the community reinvestment act.
I know my friend across the way is aware of the act. It is something we have been pushing for. The member mentioned in his presentation that it is absent from this legislation. Can he see any reason why it is absent? If not, is it something that the government ought to consider amending or perhaps we can assist by presenting an amendment later in the process ourselves?