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Because I’m bored!

Ok, this is a bit of an inside joke.  There’s this guy (hereinafter know as the “Guy”) in Montreal who just joined a big investment bank.  He used to be a minister (equivalent to a secretary in the US) under the previous liberal federal administration.

A few weeks ago, the Guy was interviewed by a major national newspaper about his new job (as vice chairman of the investment banking group), and he referred to the head of the Montreal office (basically his boss) as a “good boy” (he actually said it French which is even more condescending), needless to say that in the IB community this was “the joke” for August and September – you get bet that the “boss” was less than happy about that one, since he was on the receiving end! 

Yesterday the Guy gave second interview to another national newspaper and suggested that it should be a constitutional obligation for the Province of Quebec to hold a referendum on independence every 15 years, so that for the other 14 years the real economic problems of the province could be addressed.  This is such a stupid idea, that to even suggest such a thing makes the Guy to be, at worse, a complete moron, or at best a political neophyte.  Neither outcome are very good when you are about to start your new job as vice chairman (and rain maker) at a major Canadian financial institution.

However, the Guy does have a point.  A well know economic commentator demonstrated that building roads in Quebec is about 30% more expensive than in the rest of Canada (I won’t even mention the difference with the adjacent U.S. states).  Because the province of Quebec is French speaking there are some barrier to trade with the rest of the provinces, labor is not as mobile, and the union representing the workers are – to stay polite – militant, and have some rather “interesting” contacts with individuals who seem to have role in Quebec’s organized crime scene.  Moreover, the top 3 contractors in the province account for 80% of all road work.  Last year the province allocated a number of new kindergarten licenses across the province, and guess what, 90% of the winners were know as strong supporter to the current administration (liberal).  Now the current bunch has been in power for a few years, and the other bunch (Parti Quebecois) don’t exactly have a clean reputation either.  Mention Oxygen 9 to any high level PQ operative, they turn pale, and walk away… fast.

So the Guy was not wrong, the political process in Quebec is all about Canada Vs. Quebec which means that issues as corruption, poor decision process and sheer incompetence can be swept under the rug.

Still that move was so stupid, it’s breathtaking. 

Next game is:  how long with the “Guy” last in his new job!   

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