Mr. Speaker, we help the victims by not having victims in the first place.
The member for Random—Burin—St. George's spoke about the need for revamping the financial services rules in our country. I and others have dealt with that issue in a number of different ways over the last several months.
Does the member agree that the real exposure is to not have people take advantage of other people in the first place? People are able to do that because they are able to get around what few rules there are. In fact, we should have tougher rules so when people are holding themselves out as investment dealers, they actually have to be registered as investment dealers and under the supervision and responsibility of the banks with which they do the transactions.
I understand there is an outstanding law suit. The victims are hoping to recover some of their money from the Royal Bank.
In the United States a lot of the victims have recovered money and at the end of the day perhaps the losses are as little as 50¢ or 60¢ on the dollar. That is the proper way to look at the problem as opposed to dealing with it after the horse is already out of the barn.