- Bernard Madoff’s wife was able to withdraw $10 million dollars the day before he surrendered. The feds said,
“ The process (of scrutinizing the money) gives us the right to look at all of it to try to prove that Mrs. Madoff did not earn this money on her own”.
Now, let’s see, @ minimum wage, $10/hour, that would take her…500 years! Either she’s a very old lady, or she must have earned more than the minimum wage!
- In the recession news, the unemployed number in the US has officially hit 12.5 million and construction has soared, of tents, that is. A recent picture in the Toronto Star showed people and tents beside a railway line. A locomotive is passing close behind them with a fluttering American flag and the Union Pacific flag painted on the side and the words, “Building America” beside them. Ironic indeed!
- In Ontario, it’s up and down for the 1.3 million poor, as usual. On the good side, the minimum wage increases 75 cents per hour to $9.50, and the child tax credit doubled to $92 per child per month. The bad news is that on that basis you would still be well below the poverty line and the premier is hinting that next year’s planned increase in the minimum wage may have to be shelved until the economy improves, by which time any gains would be more than wiped out by inflation. Back to the old treadmill!
- And the ridiculous? The Ontario Energy Board has put aside money to be more flexible with those who can’t pay bills, i.e. not to charge interest on unpaid bills, and to help those people to become more energy efficient and have lower bills in the future. Only problem is the poor don’t own their houses and the landlords are not interested in refits because they don’t pay the utilities.
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