Contribution from a Neo-Neo Conservative
Paul Desmarais is the founder of Bombardier. There isn't enough space on this server to list the federal government grants and contracts that have benefited Bombardier, under the guise of throwing money at nationalists in Quebec.
No War, For Oil
Glenn Reynolds remarks this morning (Jan. 24, 2004) on a National Post piece that wonders out loud why the Canadian media seems so disinterested in the connections between former PM Chretien's family and that of the Desmarais.
This 1997 article summarizes the connections then between the Desmarais clan and powerful European interests.
His sons, André and Paul Desmarais Jr. are the current co-CEO's of Power Corporation of Canada, the majority shareholder in France's TotalfinaElf. André is married to Chretien's daughter, France.
This link outlines the long list of Canadian politicians who cut their teeth with Power Corp.
Power Corp owns 67.7% of Power Financial Corp. Power Financial Corp. controls Canada's largest mutual funds company, Investors Group, and Great-West Lifeco, Canada's largest life insurance company. Power Corp also extensive media holdings - through Pargesa their influence extends into the European media.
In May, Financial Post writer Diane Francis wrote of a deal between Saddam Hussein and TotalFinaElf that would have allowed Elf to earn back it's $4 billion investment in 11 months.
Stockwell Day of the conservative opposition Alliance Party poked a stick at the prime minister during Question Period:
"I do not fault the Prime Minister's family ties with his nephew, our Ambassador to France," said Day "or with Paul Desmarais Sr. who is the largest individual shareholder of France's largest corporation, TotalFinaElf, which has billions of dollars of contracts with Saddam's former regime. With this valuable source of information and experience at his fingertips, has the Prime Minister ever discussed Iraq or France with his family or friends in the Desmarais empire?"
Just after Chretien stepped down last fall, his long time chief political advisor was a guest on local talk radio. A caller asked about the Chretien-Desmarais family connections. His voice changed, and he interrupted her mid sentence, threatening that such talk could result in legal action against her and the station.
The host cut her off.
Halliburton should have it so good.
I am taking the "neo-neo conservative" characterization as a compliment, I'll have you know....
Posted by: Kate | January 26, 2004 at 10:05 PM