When the original holders of the Infinity Rubber factory went bankrupt, a new buyer took it over at a significantly discounted price. The new owner financed their payment through a rather predatory loan.The rate for this loan was set at 18%- usury!
So, the question one must ask is why didn’t they speak out against the previous creditor? I’m no fan of the banks- but, this case, it seems a bit unfair to attack BMO saving this company from a loan shark! So was this a flashmob in support of usury?
The loan had already been issued, and it was too late to withdraw. So, the action had no potential to help the poor souls who have been on-strike for so long. From the outside, this seems like meaningless grandstanding- a waste of everyone’s time and resources. Or, perhaps, the union had an ulterior motive?
If anything, the only people who could benefit from this action are the predatory lenders– BMO may be more reluctant to crush their unfair deals next time!
There are a couple of important lesson here for all occupations:
1. Simply doing something because ‘it supports a union’ is not reason enough. It is now obvious they sometimes lose sight of what’s important.
2. Not only is transparency more respectful to your fellow occupiers to- but, had the organizers shared the idea (the why, not the where/how) in advance, we’d not find ourselves dancing in support of a loan shark!
What would Abbie Hoffman do? (WWAHD)
your efforts would be better spent criticizing and revealing the predatory, immoral, and corrupt practices of the 1%, rather than trashing the well-intentioned efforts of the 99%, What side are your on????
So, I just broke the story that a highly influential member of Occupy Toronto may have loyalties to George Szoros, and you’re taking on this petty issue? Are you kidding me?
I’m on the side of anyone who is honest and transparent with their intentions. And, from this story, I’m beginning to have my doubts about the intentions of the Steelworkers Union! Do you not think they are being somewhat disingenuous here?
I’m also in this movement to straighten out problems in the banking sector. And, from some rudimentary research this past 5 minutes, it seems to me that the Steelworkers are a bank!
Any thoughts on this? Can you help confirm my suspicion here?
And, if they are a bank, who do they put most of their loyalties towards- baby boomer pensioners, or their workers? Is there a generational battle going on here?
George Soros philanthropic organizations fund or partially many progressive groups – Adbusters being one of them. Who cares where the funding comes from – as long as it is used for progressive action.
-Because Canada is being used as a pawn in a proxy war between the US and China…
-Because Canadians don’t want to be manipulated, we want to make our own decisions…
-Because someone isn’t being honest with their fellow Occupiers…
-Because the truth must come out…
-Because people doing the manipulation are hurting individuals…
I’m totally opposed to the pipeline. But, equally opposed to being lied to…
So, you admit to the fact that Soros and TIDES Foundation are involved? Great! Now, let’s start an open and honest conversation!
And let’s stop manipulating Canadian salmon markets!
Oh yeah, and didn’t Adbusters deny being funded by Szoros?
I am perplexed about the right wing’s use of George Soros’ and TIDES Foundation’s names in derogatory contexts. I have read and heard about how we should be hostile towards these people but I have never heard a reason why we should be hostile. Could you provide some enlightenment? Also several months ago I made a comment on one of your pieces dealing with Marxists – and I had a number of questions relating to whether you could discern any distinction between what Marx was saying about alienation of labour and what the Pope’s encyclical on the dignity of labour says on the same subject. To date, I have not seen any reply from you, Greg. Could you give a reasoned reply to this subject? Thanks.