[Canada] Canadian Politics Redux

[crazy canuck]

I am pretty sure not using the n word is more than just an on-line cultural phenomenon.

[Barrister]

Interestingly, it's also verbotten to use the french n-word.

Potential trigger warning for potentially offensive French words - but no other way to discuss without using the word.




Doing some googling - what I get for the "French N-word" is "nègre".

But that searching also seems to show that "nègre" can be translated into english as either "negro", or the n-word.  In English "Negro" is perfectly acceptable if rather-old-fashioned, while the n-word is treated as being so offensive you can't even type it in a neutral fashion.

And even the n-word in english - it gets somewhat complicated as it has both the "hard R" and "soft R" versions, and the "soft R" is seen as acceptable when used by one black person to another.

So going back to my original point - if someone reports being called the n-word in the Federal public service I don't doubt them.  But given how hyper-sensitive the public service can be I highly doubt it was being used in a a manner deliberately meant to cause offence.

[Barrister]

So yesterday Premier Smith fired the entire board of AIMCo.  This is the fund that manages both Alberta's government pension funds, plus our Heritage Savings Trust Fund.  Apparently it supervises $160 billion worth of assets.  Which includes my pension.

Now reports are out that she wants to appoint none other than Stephen Harper as chairman of AIMCo.

https://financialpost.com/fp-finance/stephen-harper-potential-head-aimco

So, I have thoughts.

First of all I weirdly have some level of experience on managing a large investment fund.  Back in 1999-2000 I was the law school representative on student government.  Given that most of student government is a bunch of 18-20 year old undergrads, being a 24 year old 3rd year law student gives you a lot of clout so I was chairman of the finance committee (and of the counsel as a whole).  Being Finance committee chairman also gave a seat on the board of the U of Manitoba Endowment fund - not just student government, but the university as a whole.  No idea how much money it was worth in 1999, but in 2024 they have a hair over $1 billion.

So anyways, my experience really was that we hired professional money managers, they seemed to know what they were doing, so we went along with it.  (Just to be clear it was myself and the President as student representatives - most of the board were much older).

AIMCo has done alright for itself.  They haven't beaten the market, but few actively-managed funds do.  The CPP investment board doesn't.

So not quite sure why Smith fired the board.

And then - Harper?

The Chairman of the Board isn't going to be a full-time position.  Unlike the U of Manitoba it has enough under management it probably has its own staff, rather than just rely on someone else.  Harper as a former economist (and former PM!) is not unqualified to serve as a chairman, but is hardly going to be doing the nitty-gritty of day-to-day management.

So what's going on?

You have to think this is coming back to separating Alberta from the CPP.  Which was part of the "firewall" letter Harper signed back when he was the head of the NCC, before he became Prime Minister.  It was an idea floated by Smith, but then kind of hidden during the last election campaign.  I don't think it has much popularity in the province.

If an Alberta Pension Plan is formed, AIMCo would be in charge of it.

So curious to see what happens from here.