Mr. Speaker, the member spoke to the issue with regard to banks. It provides me some additional opportunity to interject some facts that are important for the discussion, especially given the fact the member has admitted again, like his party, that there is no role for regulation with the banks, which is absurd. This is part of the responsibility of the Government of Canada.
The Conservatives talk about distancing themselves further when the banks have received over $100 billion of support from provisions of the federal government.
Specifically, we have federal government CMHC purchases, pooled together mortgages from the banks, $75 billion; a bank account that offers short-term credit through PRA to banks, $50 billion-plus; the Bank of Canada offers short-term credit through PRA to private money markets, $5 billion; the Bank of Canada established a new term loan facility to assist banks and others, $8 billion; and the Bank of Canada releases treasury bills to investment dealers, $10 billion. Also the federal government agrees to guarantee loans to private banks and the Bank of Canada accepts asset-backed commercial paper as collateral. What do we get from that? Not a single thing.
The banks instead have said that they will raise credit card fees on his constituents and he does not care. That is unacceptable.