Moneybags isn’t out of the woods yet.
The Ethics Commissioner says Bill Moneybags Morneau did not engage in insider trading when he sold off millions of dollars worth of Morneau-Shepell shares.
According to the ethics commissioner, because the upcoming tax changes were announced a fair bit of time ahead of the sale of the shares, his sale – and advising his father to sell – did not amount to insider trading.
Conservative Finance Critic Pierre Poilievre pointed out that “not illegal” is not usually the standard we set for cabinet ministers:
“It is not good enough for ministers to boast that their actions are not illegal.”
Of note, this decision was made on the final day Mary Dawson holds the ethics post.
Even as the ethics commissioner announced her decision, Morneau still faces an investigation into Bill C-27. That legislation will impact pensions in a way that could increase the profits of Morneau-Shepell.
The incoming ethics commissioner Mario Dion has not said whether he will continue that investigation, even though a Finance Minister potentially using their role to profit themselves would be a serious problem.
Yet, even if the new ethics commissioner stops the Bill C-27 probe, the opposition parties will be seeking more answers, and the issue certainly isn’t going away.
At this point, it is now a matter for public opinion. Since the system is so rigged in favour of the political elites, the ethics commissioner has almost no real power, and can only levy laughably weak fines.
That’s why it will be up to the people to demand accountability from a government that clearly has no interest in serving the public.
Photo – Twitter