Saturday, February 3, 2018

Latest ICBC Fraud in the News

There has been a lot of talk recently about the latest ICBC Fraud. The MSM claim both BC provincial parties are blaming each other but it doesn't take a brain surgeon to figure out what happened. You can't blame this on the NDP. The Liberal government extracted a $1.3 billion dividend from ICBC to balance Christy Clark's fake fudgeit budget. That was another act of fraud just like how they extracted a $852 million dividend from BC Hydro that wasn't there.

Peter Rose from Delta wrote in to the Vancouver Province and nailed it. "How gullible does Attorney-General David Eby think the public is? The Insurance Corp. of B.C. is $1.3 billion in the red, but the Liberal government siphoned off $1.3 billion from ICBC. That means ICBC is breaking even. It’s up to the provincial government to reimburse ICBC the funds it took and, in future, keep its hands out of the till."

This is the same kind of investment fraud that created the Greek financial Crisis and the BC Liberals keep getting away with it. In this case, they extracted a dividend from ICBC which did not exist to falsify their budget and created another manufactured emergency. They did the same thing to BC Hydro only worse.

Before they forced BC Hydro to borrow $852 million to give the BC Liberals they privatized the independent power brokers that sell power to the public company at above market rates. That means they created a tsunami of deferred debt withing BC Hydro then on top of that forced them to borrow more money they didn't have to give to the BC Liberals. They all should be in jail. Before we do anything we need to fix that fraud before it continues to get any worse.

Norm Farrell nails it - Again

1 comment:

  1. Don't forget the ICBC lottery. Our litigious court system incentivizes fraud. You have a better chance of getting richer by being in an accident than playing the actual lottery.
    Truth be told there's a better chance of getting sent to Syria, tortured,sent back and becoming a millionaire than winning lotto max. I don't know wether to laugh or cry


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