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CONFLICT OF INTEREST- Mark Carney's Brookfield China Connection · Radio Baloney - The Richie Baloney Show!

• 0:03
  Speaker 1: So Pierre Poliev breaking. In September, Mark Karney some people
• 0:09
  Speaker 1: call him Marx Carney, like Carl Marx. Mark Karney though,
• 0:12
  Speaker 1: or Marx Carney as some people call him, Mark Carney
• 0:16
  Speaker 1: officially became the chair of Trudeau's Task Force on Economic Growth.
• 0:20
  Speaker 1: Now he had been advising since twenty twenty before that
• 0:24
  Speaker 1: as well. In October, Karney met with the deputy director
• 0:28
  Speaker 1: of the People's Bank of China. Just two weeks later,
• 0:31
  Speaker 1: news broke that Brookfield secured a quarter billion dollar loan
• 0:35
  Speaker 1: from the Chinese state owned bank. Now he owes a
• 0:38
  Speaker 1: hostile foreign regime and his interests are against Canada's interests. Well,
• 0:44
  Speaker 1: I mean, China's interests aren't in Canada's interest. Why won't
• 0:47
  Speaker 1: he reveal to Canadians all of his conflicts? Well, let's
• 0:51
  Speaker 1: take a look at this. Mark Carney to chair Leader's
• 0:54
  Speaker 1: Task Force on Economic Growth September ninth, twenty twenty four.
• 0:59
  Speaker 1: The Canadian asked manager has an offshore senior loan of
• 1:02
  Speaker 1: about seven hundred million due year end that funded its
• 1:07
  Speaker 1: purchase of the mixed juice property site from Greenland Hong
• 1:11
  Speaker 1: Kong Holdings. The company has secured a fifteen year on
• 1:16
  Speaker 1: short loan of one point ninety six billion, one two
• 1:20
  Speaker 1: hundred and seventy six million from the Bank of China.
• 1:23
  Speaker 1: So it feels like there could be a conflict of
• 1:25
  Speaker 1: interest in all of this, right, Brookfield. Now, China seems
• 1:30
  Speaker 1: to think a lot of Mark Carty. In fact, they
• 1:32
  Speaker 1: even interfered in the Liberal leadership race on his behalf.
• 1:36
  Speaker 1: Freeland targeted by malicious we chat campaign with alleged ties
• 1:40
  Speaker 1: to China. Huh. The Security and Intelligence Threats to Elections
• 1:46
  Speaker 1: task Force site set in a release Friday, an information
• 1:49
  Speaker 1: operation directed at Freeland was traced to we Chat's most
• 1:54
  Speaker 1: popular news account, an anonymous blog that experts have linked
• 1:58
  Speaker 1: to the People's Republic of China. We Jet is obviously
• 2:01
  Speaker 1: a Chinese app, and we know that China has been
• 2:05
  Speaker 1: influencing the Chinese diaspora in Canada politically to support politicians
• 2:15
  Speaker 1: that China supports, not for the good of Canada, for
• 2:18
  Speaker 1: the good of China, maybe ones that they feel like
• 2:21
  Speaker 1: they can influence on their behalf for their own benefit.
• 2:25
  Speaker 1: So this all seems like kind of important stuff, doesn't
• 2:28
  Speaker 1: It really doesn't it. Let's go, do I want to
• 2:31
  Speaker 1: show you something here? Prior to his resignation. Carney did
• 2:37
  Speaker 1: not own direct shares in Brookfield Asset Management Limited outright. However,
• 2:42
  Speaker 1: he held financial interest through deferred share units and stock
• 2:46
  Speaker 1: options from his tenure as senior executive and board chair.
• 2:51
  Speaker 1: Now what would be how might he benefit from that?
• 2:55
  Speaker 1: As of late twenty twenty two, when he became a
• 2:57
  Speaker 1: reporting insider due to chairmanship, he held forty one thousan
• 3:02
  Speaker 1: three hundred and fifty seven DSUs that sam defared deferred
• 3:07
  Speaker 1: share units, valuing at approximately three point two million Canadian Additionally,
• 3:13
  Speaker 1: by the end of twenty twenty four, he held options
• 3:15
  Speaker 1: on four hundred and nine thousand shares with an average
• 3:18
  Speaker 1: strike price of thirty seven dollars, value at six point
• 3:22
  Speaker 1: eight million US dollars based on the stocks price then. So,
• 3:27
  Speaker 1: deferred payout DSUs are usually paid out in cash or
• 3:30
  Speaker 1: shares only after a specified event, such as leaving the
• 3:33
  Speaker 1: company or retirement. This deferral allows Carne to delay receiving
• 3:38
  Speaker 1: the income, potentially potentially letting the value accumulate over time
• 3:43
  Speaker 1: as Brookfield's stock appreciates, especially given the long expiration dates
• 3:48
  Speaker 1: of his related stock options twenty thirty three or twenty
• 3:51
  Speaker 1: thirty four. So how Brookfield does while he's Prime Minister,
• 3:56
  Speaker 1: does affect Mark Carney's at wealth blind trust or not?
• 4:02
  Speaker 1: This was alone to Brookfield from China. It all starts
• 4:06
  Speaker 1: to get awfully tangled and awfully kind of ripe for
• 4:09
  Speaker 1: corruption and perverse incentives, does it not.
• 4:13
  Speaker 2: You know, people will charge me as being elitist or
• 4:17
  Speaker 2: you know, a globalist to use that term, which is well,
• 4:21
  Speaker 2: that's exactly you know, it happens to be exactly what
• 4:23
  Speaker 2: we need.
• 4:26
  Speaker 1: Anyway. That's all I'm going to say about that. Please like,
• 4:28
  Speaker 1: share and subscribe. Subscribing really helps me out. I thank
• 4:32
  Speaker 1: you for that. I will see you next time.