Lies, Damn Lies, and municipal politics

4 responses

  1. George Daszkowski says:

    A big part of the problem is that for many in the anti Porter debate Toronto stops at Dundas.

    The training that helps people “keep on message” removes any opportunity to develop a conversation and engage in taking responsibility.

    It is a pity that Mr Barrie did not recuse himself on the issue for voting with his wallet.

  2. Brad J. says:

    Mark, it’s appreciated when you post stuff like this–I’m in the P3 / infrastructure biz and the way media reports on these projects can be less than responsible. And while we’re generally a CBC radio family, sometimes the Ceeb editorial slant is less than transparent.

    You’re quoted in the Star today ” ‘…Bridges and tunnels,’ McQueen said in an interview, with an air of nonchalant finality.” Nonchalant finality!

    One query – if we can build a tunnel to the airport, why not allow access to the larger island as well?

  3. Tom Purves says:

    Thanks for your continued public service Mark. I really think that most people recognize what an asset the island airport is for the city. Transportation is one of the city’s biggest problems and anything we can do to make travel more accessible for Torontonians and for vistors to Toronto is a good thing.

    I thought Andy Barrie was behaving like a jackass on that call, but you handled it well.

    When will the media wake up to the fact that the island airport and porter is a good news story?

  4. DRK says:

    Decimal Place Trading caused the recession of 2008
    This recession was caused by the manipulation of stock prices on Wall Street through naked short-selling, flash trading, high-frequency trading, secret software, super-fast computers and what I feel was the main cause of this corruption: “Decimal Place Trading.” As I write this article today, much of this corruption is now slowly coming out through social media outlets such as Twitter and Facebook, along with bloggers on the internet, Yahoo bulletin boards, and the movie Stock Shock. The news media is also to blame for what has taken place in this country — including the near-collapse of Wall Street and the banking industry.
    There are many things to point fingers at or place the blame on, and I can think of a few off-hand that I would like to cover — the first being Wall Street’s regulation changes. I am no expert — I am not even a writer — but decided to tell this story since the business news media was not telling it. These Wall Street regulation changes contributed to the aforementioned problems in many ways, with the first being the removal of fractions in stock pricing. On January 29, 2001, the New York Stock Exchange, or NYSE, went to four-decimal-place trading. On March 12, 2001, the National Association of Securities Dealers Automated Quotation, or NASDAQ, followed suit. This new rule had the best of intentions as we headed toward the computer and digital world, but over time it was manipulated and companies like Goldman Sachs figured out how to take advantage of the new system. I am not sure how it happened, whether it was lobbied for years or what — but along came the biggest mistake of all with the elimination of the uptick rule in July of 2007. This rule had been implemented after the great depression, and had been in place since 1938. How could the Securities and Exchange Commission, or SEC, abolish a rule that had been in place for close to 70 years, and had worked? Put these two changes together, and you get a simple equation: greed plus corruption equals recession.
    Reports have been released on the web that Goldman Sachs made over 100 million dollars per day in 46 out of 64 trading days in Fiscal Year 2009, second quarter (April, May and June). Let me say that again. They made over 100 million dollars per day, and are still doing it as I write this letter today. But the question remains, how did they do it? There has been no report of this by any of the news media. How can this be? This corruption is 100 times the gravity of the Bernie Madoff story, and yet there has been no coverage by CNBC or Bloomberg News. Why? Goldman Sachs, upon Wall Street transitioning to fractions and the abolishment of the uptick rule, designed secret software and used this software to gain an advantage on every potential investor. Basically, Goldman Sachs became a Las Vegas poker dealer in New York City on Wall Street, turning profits on investors every trade with their super-fast computers and software.
    Richard Keane August 26th, 2009 Revised version

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