31 January 2014

Chill up spine time #nlpoli

Two separate e-mails plunked the same article in the SRBP inbox on Friday.

Both highlighted the same quote from this National Post story on Muskrat Falls financing:

“The benefit of the guarantee was that no one had to look at the merits of the underlying project,” says Steve Halliday, managing director and head of global credit trading and distribution at TD.

So the investors bought into the project without looking at the merits of the project.

How many ways can that be bad for the people who will be stuck paying for it?