Finance committee  I think there's no shortage of blame to go around. Many of the comments suggest that it's systemic, and not my broker, not Canaccord only, or a rating agency, or regulatory authorities, or banks playing both sides of the fence, or liquidity guarantees that aren't guarantees.

Finance committee  I think it is a systemic problem and not just—

Finance committee  I think the short answer is that the investment adviser believed that the product was safe and liquid. It wasn't.

Finance committee  The comment in the co-op that has most commonly been made, particularly with this issue in the news out of the United States, is whether it's time to get a bigger mattress to stuff savings in.

Finance committee  Yes.

Finance committee  Yes. And our broker was also unaware of the contents of the paper. My understanding is that about one-third of all of the money market funds in Canada last summer were held in some form of asset-backed commercial paper. So my expectation is that the vast majority of Canadians who

Finance committee  Thank you. My name is Steve Furino and I am the treasurer of Beaver Creek Housing Co-operative in Waterloo, Ontario. I would like to tell our story in two parts. First is how the situation came to pass for us and consequently our need to be made whole for our ABCP investments.