Where does the money go?

By William Corden

A recent article on the CBC ( Canada’s version of the ultra woke BBC… maybe even worse), but I digress.A recent article informed us the Bank of Montreal had been fined $4 million because of some crookery they’d been up to

Here’s the link

We were also advised that Canadian Tire had been fined for false advertising

The TD bank got $9.2 million worth of wrist slapping for money laundering

These news items usually come with an innocuous rider telling us that no guilt was admitted .. so it’s passed off as just a careless administrative mistake.

Nobody goes to jail, nobody has to pay personal fines or lose any personal assets. They just go into the office the next day and it’s business as usual. The “pain”, as they say, is mutualized and nobody feels a thing.

What I ask myself is… where do these monetary fine dollars go?

We, the peasantry, never see a dime of it , we don’t see a new civic community center being built or an improvement in some or other social bulwark. It just disappears into Stephen Hawkings cosmos, something I will explain later.

The question popped up in my mind because I followed up on another instance of a corporate fine being levied here in British Columbia (wilderness home of the penny stock), this one for peanuts of about $1.5 million against a couple of hucksters who got away with 10 times that amount.

It struck me that imposing a fine on a company which no longer exists is like chasing smoke, so I looked up the amount of unpaid fines levied by the British Columbia Securities Commission and wasn’t really surprised to find out that there’s over $430 million in uncollected dollars… that’s half a billion dollars for one relatively sparsely populated province.

Here’s an article highlighting the futility of it all

The fact that it’s uncollected doesn’t affect the handsome paycheques of the Commission’s staff, in fact they have to hire more people to handle the workload.

So I asked earlier , where does the money go?

Well, it would seem that there is “no money” to go anywheres.

The perpetrators and the Commissioners are the only ones who cash out and we get stuck with the bill for chasing the crooks.