Mr. Speaker, the Minister of Finance said the commercial paper crisis was only further proof of the need for a single securities regulator. The Parliamentary Secretary to the Minister of Finance went even further. It is sheer hypocrisy, considering that the banks, which are responsible for this crisis, are already under his responsibility and that of the Office of the Superintendent of Financial Institutions.
Instead of seeking false pretenses for his plans, which no one except Ontario wants, should the minister not admit that he and his Superintendent of Financial Institutions are the ones who abdicated their responsibilities in the commercial paper crisis?