As the full-blown moral panic into what financial assets cabinet ministers own continues, we see the news that Bill Morneau has indeed sold off his shares in Morneau Shepell, for what it’s worth. Not that it will stop any of the chatter at this point – the outrage cycle continues to exhaust itself, and until some new outrage crops up, we’ll continue hearing about this as it sputters and runs on fumes.
Somebody sold a pile of Morneau Shepell shares yesterday, after dividend was paid. Busiest trading day in more than a year. pic.twitter.com/QqVxAuNgIb
— Glen McGregor (@glen_mcgregor) October 31, 2017
Can confirm. These are Bill Morneau's shares being sold off yesterday (and today–trade volumes way up again, close to 300,000 shares sold) https://t.co/Poefhr71Vp
— Glen McGregor (@glen_mcgregor) October 31, 2017
Morneau is donating proceeds from difference in share price vs. Oct 19 (~$5 million); the rest goes into a blind trust. https://t.co/1pafeA3nkO
— Glen McGregor (@glen_mcgregor) October 31, 2017
All this to say, we can now refer to Bill Morneau as the *former* owner of shares in his family HR company. https://t.co/rhdKGxj9EB
— Glen McGregor (@glen_mcgregor) October 31, 2017
And hey, why not find out what every other cabinet minister owns? The Star did, and I’m not really sure how edifying this whole exercise was in the end. Never mind that once again we’re reaching the point of absurdity with all of this. Are there problems with the ethics and conflict of interest legislation? Probably. Were loopholes identified previously? Yup. Did MPs do anything about it then? Nope. Do they really have an interest in closing any of them now? Probably not (and no, the NDP motion that the government voted down was not indicative of anything because it also contained a bunch of other stuff, as these things so often do, that was designed to embarrass Morneau and the government had they voted for it. Because in politics, we can’t have nice things). And once you add in all of the tall poppy nonsense, we’re left with the same tiresome moralizing that we’re always left with when it comes to “perceived” conflicts that aren’t actually there but which were invented out of whole cloth with the convenient lining up of “facts” that don’t pass the bullshit filter. And then we complain that nobody wants to get involved in politics.
Every single MP should take a vow of poverty along with their oath of office. Boom, problem solved.
— ishmael n. daro (@iD4RO) October 31, 2017
https://twitter.com/cfhorgan/status/925393091086786560
Meanwhile, the Liberals are pointing out that Andrew Scheer has assets in Real Estate Limited Partnerships that are really only for the wealthy. Predictably, the Conservatives cite that he’s worth only a fraction of Morneau, and then cries of hypocrisy flew from both sides, and the outrage cycle continues to chug along.
https://twitter.com/cfhorgan/status/925377206351564800
In 10 years there will be no actual issues. Political platforms will contain nothing but accusations of hypocrisy in other tribes. https://t.co/OEOvamU9m6
— Chris Selley (@cselley) October 31, 2017