Trust Change

November 1, 2006 4 Comments »

This income trust news is brutal. The government handled it terribly, first by promising no changes to the law, and now by not properly grandfathering current trust. Today the owners got crushed. In the long term a policy change was necessary, but it was terribly mishandled. I see enough reason here to not renew my party membership.

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  1. patrick November 1, 2006 at 9:07 pm -

    I am not a conservative but I will help you rip yours up. This is bad, so bad.

  2. Ian H. November 2, 2006 at 8:55 am -

    You would rather they did the wrong thing keeping their promise than the right thing breaking it?

  3. Micky November 2, 2006 at 9:48 pm -

    The grandfathering needed to be done differently. A lot of people (myself included) have lost a lot of money because we belived them. I am okay with stopping future conversions. But current trusts have been annihilated two days in a row in the market. The government screwed that up.


  4. Ian H. November 3, 2006 at 8:42 am -

    Well, there’s a four-year grace period… the real values haven’t changed, just the perceived value. How would you have done it?