Criminal Corruption at the Highest LevelsAlgoma Steel went into bankruptcy protection in 1991, in 2001 and again in 2015 under the Companies Creditors' Arrangement Act to relieve its investors of financial and other obligations to steelworkers, the public and certain private interests. The India-based global cartel Essar Group seized control of Algoma Steel in 2007, operating it as a subsidiary known as Algoma Inc. In an arrangement among oligarchs in May 2021, the New York-based international investment cartel Legato Merger Corp was brought onto the scene. The deal among the oligarchs merges Algoma with Legato and gives Essar over $1.1 billion worth of new shares in Legato. In the midst of all this, in July, the Trudeau government gave Algoma $420 million in public funds. Public funds should be used for public purposes to humanize the social and natural environment and to strengthen Canada's self-reliance and stability. Human-centred productive enterprises are a most effective way of generating public funds for public purposes. Public funds must not on any account be handed over to private interests to defend and enlarge their private enterprises and increase their control over Canada's economy. As always, Trudeau spouted high sounding words to excuse the corruption of using his position in government to pay public funds to the rich. To give the corrupt practice a shiny veneer, Trudeau declared that the payment to the Essar global oligarchs would "create jobs and build a cleaner future."
Public money on the contrary should be invested in social programs to meet the needs and guarantee the rights of the people, and to create stable human-centred social enterprises that put workers to work creating added-value for the common good and not to make the billionaires richer. The added-value from human-centred social enterprises can be invested back into the Canadian economy to defend it from economic crises and to create possibilities for Canadians to enhance their control over their economy and its direction. Governments paying the rich underscore the need for a new direction for the economy. The socialized economy must be under the control of Canadians with the added-value workers produce invested back into the economy. Denounce the Corruption of the Trudeau Government!
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Of
course the money in the hands of the rich may create jobs. Buying
workers' capacity to work and having them work in their private
enterprises is a way the rich become richer, through expropriating the
added-value workers produce. And that is the point for the ruling
elite. For them, public money must go towards strengthening the
control,
domination and privilege of the rich and weakening the capacity of the
working people to defend their rights and have any control over their
work and lives. Global control by the oligarchs in no way brings
stability and security to the economy as Canadians have seen time and
time again.