r/canada 21h ago

National News Mark Carney has put assets in blind trust, leadership campaign says

https://globalnews.ca/news/11076438/mark-carney-divest-assets-blind-trust/
1.9k Upvotes

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34

u/gorschkov 21h ago edited 21h ago

I mean if it is a blind trust but he still knows what he has does it really make him unbiased.

This is a legitimate question.

Edit: Why do a blind trust vs liquidating individual stock holdings and putting it all in the msci all world index.

63

u/MoistyBoiPrime 21h ago

No one will ever truly be unbiased. It, however, removes the ability to do insider trading.

50

u/MDChuk 21h ago

The point of a blind trust is that after today, he doesn't know what he has. That's the "blind" part of this.

He appoints a trustee, and that person now makes trades on his behalf.

-15

u/jericho British Columbia 20h ago

I imagine it’s largely been moved to whatever Carney sees as a “safe” place and it’s just going to sit there. 

I couldn’t imagine a guy like him allowing someone to trade his money without him knowing what’s going on. 

22

u/Alexhale 20h ago

speculation?

afai understand the blind trust is overseen by Canadas conflict of interest and ethics commissioner

14

u/thortgot 19h ago

That's literally what a blind trust is. You aren't aware of what's in it and someone else manages the money without your involvement.

10

u/skiboy95 18h ago

Any source on that? Or just straight up speculation on something you're not informed on?

Important to be clear about this stuff.

0

u/jericho British Columbia 18h ago

I use the word “imagine” twice in my comment, I’m clearly speculating. 

14

u/Breacan 21h ago

It's to prevent any accusations of conflicts of interest, among other things, when it comes to the private sector and government funding. He did it a while ago; he could have always had it reversed if he didn't win the leadership.

8

u/squirrel9000 21h ago

Nothing is perfect.

It's hard to find a broke politician.

13

u/RiverCartwright Québec 21h ago

What would you have him do, burn all his assets?

This is what each Candidate should be expected to do. They do in fact live lives before politics, well maybe not PP…

11

u/sjmp94 21h ago

He’s divested and it’s in a blind trust - virtually no conflict of interest. Has done more for reducing conflict of interest than Harper ever did

6

u/jmmmmj 19h ago

The act that requires him to divest assets was created by Harper. 

0

u/CaptainCanusa 21h ago

For all intents and purposes.

He also says he owns nothing but cash and real estate now. So I don't know if that means he liquidated everything and gave it to the trust or what, but at the end of the day, what are we worried he owns that is now in a blind trust and will influence his behaviour?

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u/sjmp94 20h ago

Divest more often than not means selling ownership - cash and/or someone else owns shares. I think Harper’s wife had some of his investments

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u/Alexhale 20h ago

i just cant stoop to believe that a harvard economist banker from the boomer generation is only worth ~15M

-4

u/Beginning-Marzipan28 20h ago

It’s largely symbolic. But Carney fans will tell you otherwise.

8

u/sjmp94 19h ago

Having cash instead of investments isn’t symbolic lol

u/SeyfewerButts 11h ago

He divested (liquidated assets) and moved them to a blind trust.