Trump admin seizes US$120,000,000 owned by the Canada Pension Plan Investment Board as stake in an offshore wind project, demands that it be invested in fossil fuel development instead.
Trump admin seizes US$120,000,000 owned by the Canada Pension Plan Investment Board as stake in an offshore wind project, demands that it be invested in fossil fuel development instead.
Because traditionally, wealthy Canadians don’t invest in the rest of Canada, they invest in Britain, the US or the EU. Canada doesn’t grow very fast so value grows slowly. Of course, the reason Canada doesn’t grow very fast is Canadians don’t invest in Canada. Kinda one of those “vicious cycle” things.
The Canada Pension Fund is NOT for rich people to use. It’s mandated by the government to make sure that the Canada Pension Plan (CPP) funding for retired and disabled Canadians is adequate for our needs.
Quick question, who manages the funds? Is it us? Or is it a bunch of wealthy finance bros “because obviously they know how to make money.”