Big red

Last month, we were the first to tell you about the provincial Liberals financial difficulties - reporting the party took out $5 million worth of loans from four banks on March 31, 2009 while running a deficit of $2.6 million during the election period. And here's some more news on the same file: on Saturday, during a meeting of the party's presidents' council at The Fairmont Waterfront, attendees were told the Liberals are spending $150,000 each month to service their debt.


It sounds like traditional supporters of the BC Liberals have withheld their consent and their money from the "culture of deceit" exemplified by the party leadership. This is a common problem for parities with disillusioned supporters. First they withhold their money, then their volunteer time and then their votes.

$150,000 per month implies $1,800,000 per year. If they took out loans at 10%, that would imply servicing an $18 million dollar debt. That seems pretty unlikely. Either the number is overstated or they are retiring debt at a very healthy clip as part of that monthly payment (ie, most of the payment is debt repayment, not debt service).

Thanks Paul for doing the math. Perhaps the BCLibs need to cut back the website, cut out all the fax bombers and cut all the tributes to Gordon Campbell.

If the BC Liberals are in debt, perhaps they are selling the province too cheaply?

The Libs have nothing to worry about --unless it looks like the New Democrats inner core will actually champion the environmentally sustainable BC policies that their entire membership voted in, and will actively promote economic and social justice which all unions have been too chicken-fecal to fight for. If the NDP did change and go back to its socialist roots with a good environmental focus and actually look like they might win an election, the international corporations (the rich) will come up with the cash to bail out the Libs-or-whatever-name-they'll-go-by-then-Party once again. The rightwingnuts have always had their loyal and steady backers--the rich 10% of the population; the 1% worldwide filthy rich (Rockefellas, Rothchildren, Waltons, etc., who own everything ) and the 27% brainwashed masses who don't read your column or Bill Tieleman's columns, or Murray Dobbin's or Jerry West's, etc. The brainwashed Campbell supporters may vote without knowing all the facts, but at least they vote. The Great Undecided? How can anyone be undecided?????

Marysue, you're no Mary Polak. I read Holman. I am skeptical about BCLibs, but the alternative stinks to high socialist heavens.

You like socialism, I see. Try doing a Google on "USSR" or "North Korea". See if you like it.

Leave a comment

Copyright © 2004 - Public Eye Mediaworks. Reproductions of any portion of this Website are permitted only with the expressed permission of Public Eye Mediaworks.
Canadian Web Hosting graciously provided by dotcanuck Web Services. Layout and graphics courtesy of Art Department Design.