Saturday, May 30, 2009

Opposition Demands Auditor General Probe Caisse Losses

Quebec's pension fund manager reported historic losses
for 2008 this week in Montreal. (Canadian Press)

From The CBC:

Opposition parties at the National Assembly are demanding the auditor general probe the record losses by the Caisse de Dépôt et Placement du Québec last year.

On Friday, a special legislative committee wrapped up 30 hours of hearings which heard testimony from past and current heads of the giant pension fund manager.

The Caisse saw the value of its assets plummet 25 per cent to about $120 billion from $155 billion last year.

Read more ....

My Comment: When there is a $40 billion dollar shortfall .... there better be a "probe" and an accounting on what happened.

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