Now, even a bank slams workfare (from Canada. This is GREAT stuff)

[arikara]

TD report pokes holes in welfare and EI policies, offers new blueprint for safety net

(my note: for those who don't know, TD is a major Canadian bank)

THOMAS WALKOM
NATIONAL AFFAIRS WRITER

The worm turns. Old ideas gain currency again. Now, even hard-headed business people are beginning to realize that taking a sledgehammer to the welfare state was a bad, bad idea.

The latest evidence is a remarkable paper released yesterday on how Canadian governments should deal with welfare, poverty and unemployment.

The conclusions of the paper are not in themselves remarkable: the authors point out that former Ontario premier Mike Harris's workfare scheme didn't work and that the 1995 decision by former federal finance minister (and now Prime Minister) Paul Martin to gut the employment insurance system made matters even worse. Many have said that.

The paper's authors also recommend a concerted federal effort to expand and reform the social safety net so that the very poorest are guaranteed enough to live and the working poor get a little bit extra. We've heard these ideas before, too.

What is remarkable is the report's provenance. It was written by the TD Bank Financial Group, a big, rich bank. And it appears destined to form the basis of recommendations that a joint panel of business, labour and anti-poverty activists is to present to federal and provincial governments next month.

more...

http://tinyurl.com/756aa

[Atman]

1. Wow. TD is my bank. Accidentally.

The bought my old bank. Now their logo is on my checks. I have no idea who they are, but this sounds good.

[nine23]

3. RE: "I have no idea who they are..."

They're an enormous, 130 year-old Canadian chartered bank, the second-largest in Canada (may even be the largest by now; large enough that I use them seamlessly to do my banking in Canada AND France).

Back to the article: Even though we're a rather liberal country, I'm AMAZED to see a major Canadian financial institution addressing poverty on ANY level. It's just so...un-banky!

[TrogL]

4. Actually, they were bought out by Canada Trust

a 1970's upstart that grew big, so big that they were bigger than traditional banks. They did this by buying state-of-the-art computers and networking that allowed them to centralize (with regional mirrors) all banking activities years before the traditional banks got around to it.

They bought TD primarily so they called call themselves a "bank" rather than a trust company.

[achtung_circus]

5. RBC (Royal Bank) is still bigger. nt

[Spazito]

2. Very interesting article! Thanks for posting

[Pierre Trudeau]

6. that's my bank too

Weird. I've been using TD for years now. I never had much love for banks, any bank, but concluded it's a necessary evil.

(Ever tried to get by without a bank account?? It's not easy. I tried for a couple years... basically you don't exist without one.)

I figured well, if I must, I'll get a TD account (my sister worked for them, thought that might come in handy). For such an evil entity, this bank has at least provided good reliable service. And now it seems they are socially enlightened as well. Go figure.

[TrogL]

12. I used to work for Canada Trust

back in the 80's. The key to their service is amazing computer systems.

[arikara]

7. I'm shamelessly kicking this up

because its important for all to see some positive news in amongst all of the bad that's been happening.

[I Have A Dream]

8. Kick

:kick:

[redqueen]

9. I want to move there so bad...

Hopefully in another year or so...

[AX10]

10. KICK!

[Lisa]

11. wow! I had expected something like this from VanCity, but ...

.... hearing it from one of the Big 5 is amazing.

They're a huge institution, with multiple branches in cities and towns across Canada.

[arikara]

13. I know, we deal with Coast Capitol

and they've been losing their touch since they merged. Although they did come out with a no fee chequing account.

[applegrove]

14. This is from the Toronto Star which is the liberal newspaper. And

yes - corporate culture is much better in parts of Canada than the US.

[applegrove]

15. TD I think still owns TD Waterhouse the stock trading company.